Your Honeymoon Trip to Malaysia Can Give You Unlimited Startup Idea
It took seven months for my friend Danny to decide whether he is ready to get started as an entrepreneur.
Lockdown in our area was lifted. By the grace of God, covid cases dropped. We were back in our routine again.
Last October, on 26th, I met Danny after straight seven months, 11 days.
It’s 9 a.m, we are in the park, sitting on the wooden bench, the wind isn’t blowing, the sun is falling over my spectacles and I can’t see anything but I can feel Danny beside me:
— “Hey Danny, how are you? Long time.”
— “Doing fine, how are you doing?”
— “I’m cool. Are you set for entrepreneurship?”
— “Yeah…” (I got super-excited and jumped up saying: “Amazing. I’m very excited. What’s the plan?”
He continued: “Now unsure about how to find a ground-breaking, mind-blowing idea to have a great impact in this world.” (I got sad. I thought he had already made good progress by now.)
— “Wrong approach. That’s not the way. There’s nothing such as ground-breaking, mind-blowing, the next big thing—it’s a myth. Ideas are cheap. Give me two minutes and I’ll give you 100 ideas. Ideas don’t matter. Execution matters.
There’s a simple way to find some good ideas that work as well as is effective. Remember your honeymoon trip to Malaysia? The shoppings you have done with your wife there?
(Danny is a little angry and confused…)
Wait wait, I know you aren't married.
Okay, ever took your sister for shopping? Do you know what’s in her mind while she shops?
Nope? Okay, here’s the CT scan of her thoughts — women are very simple:
- What does do my cousin’s friends have that my friends don’t?
- What will be something better in my wrist than this old bracelet?
- What do I actually need for regular use?
- What will I enjoy/love having? And I won’t regret the amount of money lost?
This is the process you too can use to come up with some amazing ideas for your startup.
Analysis of the Questions
1. What do my cousin’s friends have that my friends don’t?
Do you know the secret agenda here? Okay, she is brainstorming what the other community is having but her community doesn’t. And when she has this, only she will have it in her community, making her special/unique/attractive/valuable/cool/hot.
2. What will be something better in my wrist than this old bracelet?
The hidden agenda here? You got it right — “how can I make my wrist look better to be/look more attractive than everyone else?”
3. What do I actually need for regular use?
Here’s what she thinks: “I am already attractive. I don’t need anything else. And my cousin’s community has that thing and I have that in my community as well. I am happy with whatever there is with me. What is the thing that I actually don’t have? What is my regular day-to-day use item that will solve a problem of mine that is out of stock at my home? Ohh, I need a vanilla flavoured toothpaste.”
4. What will I enjoy/love having? And I won’t regret the amount of money lost?
Meaning, she is out of ideas of what to buy, hence she is thinking about what she will love having, doesn’t matter who else has it or if it is costly.
Here’s How You Come Up With Better Ideas for Your Business:
You just need to ask yourself these four questions:
1. What is the thing that is there in another community but not here in mine?
— Which will make me valuable in this community and I can charge some amount for that?
2. What is the thing that can be made better in my community?
— So that people are willing to get my service to enjoy a better experience?
3. What problems of myself can I solve?
— Which I can charge others for it because others too surely might have a similar problem?
4. What do I actually enjoy doing? And how can I monetize it?
— So that I do what I love doing and get paid for it.
— “Got it, Danny?”
— “Yeah, it got way simpler now. Thanks so much, buddy. You’re amazing.”
— “Happy brainstorming. Stay safe. See you tomorrow.”