“The best way to have a good idea is to have lots of ideas”. – Linus Pauling
Ideation is often the most exciting stage in Design Thinking, because during Ideation, the aim is to generate a large quantity of ideas that the team can then filter and cut down into the best, most practical or most innovative ones in order to inspire new and better design solutions and products.
Thinking through your ideas and using three distinct concepts: Feasibility, Viability and Desirability, you can determine which ideas are worth pursuing.
(Feasibility: Can it be done? Desirability: Do people want it? Viability: Is there a big enough market for it?)
Finding the point where all three come together is the sweet spot for your new idea.
The GRID can help you through this process using our certified Entrepreneurial Mindset Instructors and the Entrepreneurial Learning Initiative’s Opportunity Discovery Canvas. Join in on one of our discovery sessions or call or email to set up a one on one appointment with our trained and experienced mentors. We’re here to help take you and your ideas to the next step.
“An entrepreneurial mindset shifts our perspective in a way that exposes opportunities, ignites ambition, and fosters creativity and critical thinking, self-reliance, resilience, and resourcefulness that has become essential for both individuals and organizations to adapt and thrive in today’s rapidly changing world.” – Entrepreneurial Learning Initiative
Focusing on a market gap helps you make sure you avoid diving into a market that is already over saturated. Identifying and describing your target market and reasons for choosing it is the first step in deciding if your new business idea is viable.
The best startup business ideas will draw on the unique talents and interests of aspiring entrepreneurs. Your skills are an inexhaustible source of business potential energy for your business. This is not the case only at the startup stage, but also in all business life cycles stages. Matching your skills and passion with market opportunity will be the crucial competitive advantage of your business.
- How to start the right business to match your skills and interests (INC Magazine, Martin Zwilling, Founder of Startup Professionals)