Methods of Generating New Ideas for Entrepreneurs

Summary: Even with a wide variety of sources available, coming up with an idea as the basis for a new venture can still be a difficult problem. The entrepreneur can use several methods to help generate and test new ideas including focus groups, brainstorming and problem inventory analysis.

The following are some of the key methods to help generate end test new ideas:

1. Focus Groups ? these are the groups of individuals providing information in a structural format. A moderator leads a group of people through an open, in-depth discussion rather than simply asking questions to solicit participant response. Such groups form comments in open-end in-depth discussions for a new product area that can result in market success. In addition to generating new ideas, the focus group is an excellent source for initially screening ideas and concept.

2. Brainstorming ? it is a group method for obtaining new ideas and solutions. It is based on the fact that people can be stimulated to greater creativity by meeting with others and participating in organized group experiences. The characteristics of this method are keeping criticism away; free wheeling of idea, high quantity of ideas, combinations and improvements of ideas. Such type of session should be fun with no scope for domination and inhibition. Brainstorming has a greater probability of success when the effort focuses on specific product or market area.

3. Problem inventory analysis? it is a method for obtaining new ideas and solutions by focusing on problems. This analysis uses individuals in a manner that is analogous to focus groups to generate new product areas. However, instead of generating new ideas, the consumers are provided with list of problems and then asked to have discussion over it and it ultimately results in an entirely new product idea.

The entrepreneur is not limited by only the three methods presented in this article. There are other creative problem solving methods and techniques that are also available.

Copyright 2005 Stephen Pierce

Stephen Pierce is strategic marketing advisor, innovation facilitator, author and speaker. He provides strategies that make growing profits in your business a fast reality. Learn how to get Marketing Momentum for real business success. To receive your free online video coaching visit: http://www.stephenlive.com or request your free Innovation Audit at http://www.innovationmarketers.com

---

How To Grow Your Micro-Business

If you want to grow your micro-business (defined as a... Read More

Starting Your Business: It All Boils Down To Making Money and Saving Money

Bootstrapping in the context of business start-ups refers to the... Read More

How to Start a Franchise

Franchising InformationFranchise oppotunities are all around us today. You may... Read More

Oil Change Guys History; Part II

Franchise companies are not born they are made and when... Read More

Your Company Needs A Mission Statement; Make It Count

Does anyone remember that book "Built to Last" done y... Read More

Drive Website Traffic Unconventionally, Force Your Children To Do It

If you believe that every little bit helps then keep... Read More

Confidence = Preparation + Courage

It always amazes me when I see someone on television... Read More

The 7 Major Reasons Businesses Fail and How to Overcome Them

This year, over 800,000 of the approximately 2,000,000 start up... Read More

Solving the Million Dollar Mystery: 4 Steps To Create A Turn-Key Business

You're a smart, hardworking entrepreneur, and you're moving fast. You... Read More

PTO; Justification of the Means and the Ends

Some would say about certain issues that the means do... Read More

Can a Microbusiness Help You Enjoy a Better Retirement?

Not having enough money for a comfortable retirement tops the... Read More

Become a Recognized Authority in Your Field - in 60 Days or Less!

You don't have to be rock-star famous before you are... Read More

Why I Should Go In To Business

Rohit Kochgaway was very upset with his boss for his... Read More

Focus is the Key to a Successful Startup

The definition of a startup means you have very few... Read More

How A Woman Became A Successful Bill Collector In A Mans Industry And How You Can Too!

I have worked in the credit industry for over 17... Read More

From Employee to Entrepreneur: Taking the Plunge

Before you decide whether or not running your own business... Read More

Franchisor Sample Grand Opening Launch for New Franchised Outlets

It is paramount that all franchising companies work hard in... Read More

How To Find Focus And Turn Your Talent Into A Thriving Professional Business

There are tons of books and articles available to help... Read More

Could a Non-Profit Structure Be Right for Your Business?

If you have a business idea, or an idea for... Read More

Entrepreneurship as Your Passion

Entrepreneurship has been my passion for as long as I... Read More

The Use of Common Stock in Venture Capital Transactions

When raising capital for a business venture, a company can... Read More

The Entrepreneurs Dilemma

In business, you plan to protect your inventory, your unique... Read More

Boundary Setting 101 for Solo Entrepreneurs

Select the best response to the statement below:As a solo... Read More

Oil Change Guys History; Part III

Studying the history of franchise companies is interesting is watching... Read More

Time Management Tips for Solo Entrepreneurs

Does it seem like everyone and everything is vying for... Read More

Getting Rich Isnt a Bad Idea

You've seen plenty of articles claiming to offer you the... Read More

Interview with Best-selling Entrepreneurial Authors Barbara Winters and Nick Williams

Ray Bradbury's quote, "You've got to jump off cliffs all... Read More

3 Essential Elements of Operating a Successful Business

Have you ever imagined what it would be like to... Read More

From Entrepreneur to Infopreneur: Make Money Selling Info Products

The term "Infopreneur" is a relatively new industry buzz word... Read More

7 Lean Marketing Laws For The Inspired Entrepreneur

The following laws will provide guidance on how to act,think... Read More

How To Find Hot Online Business Ideas

Would you like to find the key that unlocks the... Read More

Success Secrets - What I, Mike Litman Learned From This Old Book

Yesterday was a beautiful, sunny day in New York and... Read More

10 Tips for Would-be Entrepreneurs

Every evening as the sun sets beyond the mangroves that... Read More