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How to Find a Great Idea

Inspiration for your next amazing business idea can come from anywhere, so pay attention!

By

Here are three ways that inspiration hit some very successful business people.

  1. Annoyance. Bothered by a $40 late fee on a rented video, Reed Hastings thought to himself that video rentals should work like gym memberships -- you get charged the same amount each month no matter how much you use them. And from that, Netflix was born.

  2. Noticing a trend and building off it. Gregorys Coffee founder and CEO decided to start his own business while sitting in a Starbucks. He realized he wanted to create an experience for people who like the speed of Dunkin Donuts and Starbucks, with the atmosphere of a boutique coffee shop.

  3. They recognize needs. House cleaning and dog walking don't seem like innovative ideas, but people have started lucrative businesses focused on giving people what they crave most -- time.

These tips and many more come from Start Your Own Business. Check it out and other great resources at the Entrepreneur Bookstore.

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