Archive for the ‘business idea’ tag
Book Review – The Idea Hunter
I always push the idea of having your own business or at least invest into a business venture. In order to do this, you need good viable ideas that you can explore and monetize. I have made a new commitment lately to start improving my knowledge in the area of idea development and market research. Once you get that science under control, you have covered at least 50% of how to be successful in the business world. Even if you just want to be an investor into someone else’s business, this knowledge gives you more intelligence in making those decisions.
Now to the book “The Idea Hunter”. This book has some very important factors that will put you on the right track. It does not present a lot of formulas that you can use to come with a million dollar idea but it lays the foundation on how you could uncover many new ideas. They actually presented a simplified system called “IDEA” which I will explain below.
1. Focus – Before we jump into the IDEA steps, you need to have a focus area that you want to pursue. In other words you need to pick an industry then pick a mission within that industry. For example, you like a clean environment but in doing so you feel that renewable energy is one important area to pursue. Within renewable energy, you could break things down even further based on your specific interest.
2. Interested – The first step in the IDEA formula is the concept of being interested. You have your focus area ready, so now you need to really seek out and be aware of things happening in this field of choice. Always be taking notes on the topic. This basically means to take initiative to find new ideas.
3. Diversify – While you have a focus area of where you want to develop ideas, you need to look into how things are done in other fields as well as look at multiple sources to get ideas. It could mean to meet with experts but also talk to the common consumer as well. Do not rely on any single means to find good ideas.
4. Exercised – To be a good idea hunter, you need to practice the craft. Meaning you need to be always out there looking for ideas and observing things. The more you do this just like an athlete, its the more you become proficient as an idea hunter and developer
5. Agile – Once you collect ideas on the go, you need to be active in bringing them to fruition. An idea may not be great initially but by exploring and mixing things up, its very likely that a better idea could emerge in the whole process. Basically, it means you have to be active and continuously brainstorming what you find to develop further.
Conclusion:
While this book is not glamorous, it does give you a system to become a serious idea hunter and developer. It focuses a lot on developing an mindset of idea seeking and refinement which in the end will get you that break through. In the end, the best point for me, is the concept of focusing on a cause in order to be successful. If you are too scatter as I have been to be honest, you will get stuck at the start all the time.
Always have a system record new ideas whether its a smartphone, postit or small note book.