What is your business idea? Some entrepreneurs already have a wonderful idea they already know they want to make a reality. Others might have several ideas or variations of an idea. Or no idea at all, just a desire driving them. I fall under the second category. I know I want to be an illustrator but there are several directions I could take that as a business.

So, how do you pick a business idea?

Over the weekend, I went to an illustrator conference put on by the Utah chapter of the Society of Children’s Book Writers and Illustrators where they talked about how to generate new ideas. The speaker pointed out that an idea is just a new combinations of existing elements. Technically, you could come up with a business idea by pulling random words out of a hat but I wouldn’t advise it.

To give myself some direction, I turned to the third module of the Build Your Dream Company course, “Build on What You Already Know.” Here are some questions I asked myself to help narrow down my business idea:

    • What experience do I have with the industry?
    • What experience do I have with related industries?
    • Who do I know who works in that industry or related industries
    • What issues have I seen and can I solve them?

Now, I just need to look at all my answers and combine the different elements I came up with to create my idea.

How about you? How did you come up with your business idea? Are there any other elements you could combine with it or take out?

Valkyrie Johnson