How to Find a Great Idea
Here are three ways that inspiration hit some very successful business people.
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.
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.
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.