Want to become an entrepreneur, but unable to think of an idea?
Entrepreneurship is the new bling, tempting people worldwide. There is no age bar to get started. It is such a rat race everyone yearns to be a part of.
Are you still at an arm’s distance?
What is stopping you?
No matter how much you dream with eyes wide open or close or do intense brainstorming, you fail to come up with a eureka moment.
In fact out there in the Entre-world we numerous start-ups revolving around the whim and fancies of the entrepreneur, most end up getting busted in no time or get stuck in a liner vicious circle devoid of scalability.
Are we to blame the lack of vision, beyond the rat race?
Is it the flaw in the ‘eureka moment’?
Your dream, your idea is the foundation for the entire structure. Whenever in ambiguity ask yourself, is it innovative? Is it an earth shaking idea? Is it industrially sustainable?
Let’s walk through some common mistakes people undermine while entrusting their dreams.
# Why Target B2C?
The root problem is that all the major developments revolve around the B2C market. B2C business ideas are easy to formulate and often end up in a vicious circle of funding for quick returns.
The question is how long does it last?
Most of the ideas have a tendency of getting saturated within a period of six months to a couple of years, in this sector. There aren't any long lasting solutions for large scale issues.
Try to formulate a vision by focusing on B2B market opportunities, which mainly concentrates on the needs of the market and the Research and Development.
#Insecure About Funding?
The funding structure is hyped in the entre-scenario. A common misconception most entrepreneurs have is that the funding process is always narrow and short lived. There are no grounds for long term fund source.
Keeping the above in view, many restrain themselves from innovating on the lines of tech ideas having the real potential to woo the world.
Keep aside the ‘more for less’ rule; out there, there is no lack of workforce or funding don't be insecure to try some long term life changing ideas.
#Planning To Be A Copy-Cat?
The entre-world does not need a duplicate ‘Mark Zuckerberg’ or the next ‘Jack ma’. The plea that the idea once worked will work again is a mere misconception. Stop borrowing ideas, be the next you.
If you can’t think the fields like e-commerce, transport or hyper local avenues, etc. are already exhausted; don’t worry there are a lot more waiting.
Try to formulate your ideas on problems and need based areas like sanitation, waste management, alternate energy, an agricultural technology which is still untouched and needs to be explored.
The crux is, only a real product invention based on the needs and the target market can take you to places. So start with the basics, decide the audience and the problem you which to tackle.
The Entre-world is waiting for your perfect eureka moment having a unique blend of ideation and innovation with a pinch of the invention.
Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.