How to Come Up With Startup Business Ideas in the Digital Era

Your idea doesn't have to be completely original, just better than what's available already.

Every ambitious entrepreneur has the same major objective -- for their startup business idea to become the next big thing. It may be hard to imagine, but Steve Jobs and Mark Zuckerburg were once in the same position as most business owners.

Developing an idea for your startup business should be tackled with the same commitment as any other work-related task. It's unlikely that the idea will simply occur to you in the middle of the night or while waiting in line at the supermarket. While it's a pleasant thought, generating ideas requires organization, research, and planning. Here's how to begin.

Where the best startup business ideas come from.

One of the strengths of technology in the digital era is focused on simplifying your life. The Internet takes center stage at helping customers meet their needs, whether big or small. It can also be our biggest source of inspiration. Start by reading about successful startup business ideas. Many entrepreneurs share their stories, offering tactical advice that startups can take in their own idea generation. Take note of what has worked and what hasn’t.

The best ideas come from identifying problems: For Steve Jobs and Steve Wozniak, the problem was an expensive computer. They recognized that gap and built Apple I, then II and so on. For entrepreneurs today, brainstorming is a targeted exercise that takes as much creativity as it does concept.

Focus on trends in the areas you are interested in: As a potential startup business owner, you have likely developed a niche based on prior experience, future potential, or both. Take the time to learn the ins and outs of that particular niche as you develop your passion.

Flesh out your network: Think about the last time you were in a collaborative, lead-generating meeting. If everyone came to the table prepared with ideas, you’d likely walk away with at least one viable opportunity. Go to as many business networking events as you can. The more you talk to like-minded entrepreneurs, the more likely you are to hear about their pain points. There’s also a strong likelihood that you could find a potential partner to take on the startup business idea adventure.

How to ask yourself the right questions.

Sometimes, launching a startup business idea involves taking a risk. But there are questions you can ask to prepare and see if your idea has what it takes to get some traction.

What is your skill set? Are you good at sales and marketing? Do you have strong writing skills? If so, you may consider starting a side hustle by consulting with other startups on their marketing efforts. Think about pairing up with other compatible entrepreneurs. Also, consider starting a blog or developing a website to market your skills.

What’s missing out there? Whether it’s in your personal life or professional, this is one of the most important considerations for a new idea. While you may think that an idea has great potential, does anyone need it? Think about the gaps that you see in your life. If you have experience working in certain fields, what tool or service would have made your life easier?

What service can a small company offer over a large corporate competitor? Small business owners have a lot of success in forming relationships with their clients. That personal touch can make a big difference, especially when you’re working in your local community. If you’re thinking about working for events, for example, that face to face contact is crucial.

Think about the questions that investors might ask you, if your startup business idea gets to that level. What sets your idea apart? Do you have a plan for growth? What kind of help are you looking for? Thinking this through early on can help you determine if your idea has potential.

The best startup business ideas are simple.

Whether you’re looking for an idea to be your full-time passion project or just a side gig, it’s best to start small. Think about some areas in your life where you could fill a gap.

Although generating a startup business idea might appear difficult, it's merely the initial step in a lengthy process. The real challenge arises when trying to bring that idea to life, which is where many entrepreneurs encounter significant obstacles. Consider the number of seemingly promising startups that struggle to secure funding on well-known shows like Shark Tank. In most instances, these businesses have already moved beyond the idea phase.

The stark truth is that 90% of startups will not succeed. Nonetheless, investing time in generating numerous solid ideas can assist you in distinguishing those with the potential to become a real business from those that should be discarded.