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Finding your own business idea

Creating an idea is a process
By Entrepreneur Staff |

Of all the questions that could keep you up at night as you ponder your decision to become an entrepreneur, the most pressing would be this—what product or service can I create that people would want and add value to their lives? What is that one idea that will change the world?

The key in creating that idea would depend on how you filter the world and gather information. This is directly linked to your talents. Remember, your talents are recurring patterns of thoughts, feelings, and behaviors that you can apply productively. By focusing on your strongest talents in coming up with a compelling vision, you will eventually be able to find that one idea that people would want and in the process, change the world. One thing we are led to believe about entrepreneurs is that they had that eureka moment that started their journeys as entrepreneurs. Surprisingly, however, many successful entrepreneurs changed their ideas as they were developing them.

Paypal started out as writing encryption software, and not as a Web-based payment system. Research in Motion began by designing local area networks, and not the famous Blackberry. Before the founders of Hotmail developed one of the most popular e-mail services, they started with a Web-based personal database they called JavaSoft.

You will need to find your idea in the same way, with the mental flexibility to constantly understand what people want and know that your plan would probably change along the way. And each person has his own brand of mental flexibility. If you want to listen to the unique ability of your brain mentally filtering and gathering information, you will need to experiment crafting your vision and narrowing your focus by elimination. This process will take time, perseverance, and determination on your end.

Your ability to mentally create an idea is called visioning. We admire successful entrepreneurs and wish we were more like them. It is apparent from numerous studies that successful entrepreneurs possess similar personality traits. However, you need to be careful about drawing too straight a line linking these traits and being an entrepreneur. Research has also shown that there are also successful entrepreneurs who do not possess such traits. This is because each entrepreneur has his unique way of crafting a vision. Entrepreneurs have different visioning talents both in terms of combination and intensity.

There are as many paths to start as there are entrepreneurs willing to try. No single path is right for all entrepreneurs. The way to reach a desired outcome differs for every entrepreneur. The end remains constant, but the way to achieve that end will inevitably vary from one person to another. Don’t focus on the steps to follow and certainly don’t focus on the talents that an entrepreneur should supposedly have. Focus on outcomes, and use your specific talents to achieve them. You have your unique way of filtering and gathering information, allowing you to come up with your own ideas.

This article was originally published in the January-February 2010 issue of Entrepreneur Philippines.

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