There are countless businesses already in existence, so it’s very likely that you won’t be the first person to think of an idea or product. Many talented entrepreneurs waste time and energy trying to think of a unique business, when they should be focusing on how to be better, rather than how to be different.
“Don’t believe the myth that an idea isn’t a good one because there is competition,” says Marianne Cantwell, founder of Free Range Humans. “If it is a good idea there either will be competition already, or there soon will be. Remember Facebook was not the first social network and Google was not the first search engine.”
Cantwell recommends keeping a list of businesses that you find inspiring, then asking yourself how you could put your own stamp on that product or industry. “This thinking will free you up to find more ideas than you imagine, closer than you think,” she says.
Meditate
If you haven’t already watched Headspace founder Andy Puddicombe’s TED Talk, this is a great place to start. Puddicombe explains the importance of taking time to stop and look after our minds, and why this is an essential part of the creative process.
“We are so distracted, we are no longer present in the world in which we live,” he explains. A busy, stressed mind is unlikely to be able to access the inspiration and clear thinking required to come up with a business plan, and build that plan into a reality. Taking some time to clear your head and become aware of the world around you could open up a myriad of potential ideas.
Use your skillset
If you’re not trained in finance, you wouldn’t open an accountancy practice. It’s the same with any business – you’re far more likely to make your idea a success if you focus on the skills you already have. Vicki Anstey, founder of Barreworks, quit her job to set up a dedicated barre studio after discovering a ballet workout technique that revolutionised her body, posture and confidence.
“My background in marketing and advertising gave me the right instincts and skills to turn a much loved hobby into a profitable business,” she explains.
