3 Steps for Generating Ideas as a Business Leader and Entrepreneur

Ideas matter. As a business leader and entrepreneur, it’s essential to generate as many ideas as possible.

Here are some ways to generate new business ideas.

Step #1: Brainstorm

Creative brainstorming is a method of problem-solving that includes brainstorming ideas and then testing the idea with others. Brainstorming requires being open to new ideas and willing to discard old ones without judgment, which can be a challenging process when working.

Step #2: Filter Winning Ideas

Once you’ve brainstormed ideas, you can filter them using a SWOT analysis. The SWOT analysis is a popular tool for evaluating and analyzing ideas. Here are some examples of how this thinking framework can use it to evaluate ideas:

• It helps a brainstorming group focus on the most important ideas, like strengths and weaknesses.
• It helps a brainstorming group find opportunities that may be overlooked, as well as threats that may arise.
• It helps you create a clear path to take action on your idea and move it forward in the right direction.

Step #3: Develop Ideas Before Sharing

Communication is a part of human nature. People try to create content that others will like and not just their colleagues or friends on social media.

Still, before communicating your ideas, it’s essential to develop the concept more fully. This can be done through research or even deeper analysis. When you think through all aspects of an idea, the feedback you receive from others will not deter you from continuing down a particular path if the idea proves sound after inspection.

Maturing an idea is essential because not all good ideas are appreciated. Suppose someone has a great idea for a business venture, but the feedback they receive from others is not very positive. In that case, that might deter them from continuing down that entrepreneurial path.

Instead of getting discouraged by negative feedback, it’s better to use it to refine an idea rather than abandon it — unless, of course, the feedback is accurate, and there is a fatal flaw to the idea. If the negative feedback is valid, then it’s necessary to go back to the drawing board.

A simple workflow for generating new ideas is to brainstorm, filter, develop the idea in detail, then use third-party feedback to refine or search for a better one. With these tips, you’ll be well on your way to generating new business ideas.