Finding Business Ideas in Everyday Things

I've often struggled coming up with good business ideas. I've learned that my struggle was with how I thought about my surroundings.

Business ideas are everywhere, if you know how to look

In business school we would often talk about the "unicorn" businesses of recent years. Uber Eats, Air BnB, Hello Fresh, and Netflix to name a few. Each of these companies revolutionized our world by turning something upside down. So when I tried to come up with new business ideas, I would always make comparisons to these successful businesses.

Since then, I've learned that I can find great business ideas by looking at everyday things in different ways. Let me show you 3 methods to try.

#1 - Incremental Innovation

When you look at Apple's history, you'll notice that they hardly ever pioneer something new. Instead, they take something that already exists and reimagine the design/delivery/marketing.

So, to try this method, look something around you that you regularly use and imagine a better version of that thing.

As an example, consider the Stanley Cup water bottles.

Metal water bottles are far from a new concept. So, how could someone innovate in such a longstanding market? The Stanley Cup capitalized on a heath trend - drinking more water, and a cultural trend - showing personality through accessories.

In design, the Stanley Cup is just a re-shaped metal water bottle with a handle. It is a reasonable idea, and probably seemed anti-climactic for it's creators. Yet, this simple change filled a specific need (for social status) for specific people (water-focused, health conscious people).

Now try it for yourself. Look at something you're familiar with and consider it's faults. Imagine several different ways to make small improvements.

#2 - Bring A Foreign Thing Home

A few years ago I travelled to the United Kingdom. I had some chocolate bars there that I loved. When it was time to travel home I bought a whole stash of chocolate and cherished it for the next few months. Recently, I found a foreign candy shop in my town. They import and sell the same chocolate that I love. Now I can have those treats whenever I want.

This is a fairly simple idea- just import something and sell it. The trick is finding the right thing to import. Don't overcomplicate it.

In fact, "foreign" can be anything new to the people of your area.

Look at some things around your house that might be new to people in your area. Consider art, food, exercise routines, sports, and games. Pick a few that you are very passionate about, and ask your friends if they are familiar with those things. See if you can generate some interest.

If people quickly become interested in your "foreign" thing, consider making a business out of it.

#3- Give Passion A Shot

Many businesses are built on passion. It is often said that "a passionate entrepreneur beats an impassionate entrepreneur every time, because the passionate entrepreneur fights to overcome the challenges they encounter".

If you take some time to consider this, you'll discover many of your passions that you could make a business about. Consider a love for food, art, plants, games, hiking, health, reading, and so many more.

In the internet age, anyone can start sharing their passion easily. You could make YouTube videos, write articles, create recipes, start a gaming community, or teach someone your skills.

You could build an offline business with a passion too. Search for farmer's markets in your area and go check out what other people are selling. I bet that you will notice several booths where you'll think to yourself: "I could do that too!"

When you start a passion business, it is critical to avoid comparing yourself to others. Every passion will seem filled with people already doing great work. You cannot let this discourage you. Honestly, it would be a bigger red-flag if nobody was already doing something with that passion.

Just get started! Share your passion with people, and people will appreciate the unique way that you live your passion.