Billion-dollar thinking: Why budding entrepreneurs should be looking within for startup inspiration

Developing a startup idea from conception through to execution and implementation is a process fraught with challenges and potential pitfalls. There are, however, a number of steps entrepreneurs can take to aid the process and help achieve the first step of inspiration.

Alex Kistenev, co-founder and chief executive of Standuply, writes in a Medium blog post that many novice entrepreneurs fall into the trap of simply trying “to invent the next ‘you name it’ idea”.

“Experienced entrepreneurs know a better way,” says Kistenev.

“All they need to do is to look inside their inner self and talk to other people to learn what remains broken in the world around. Then fix that problem in the best possible way.”

Look for inspiration within and discover what drives you

Kistenev recommends budding entrepreneurs search within for inspiration, identifying a particular need on their own. For instance, asking what the hardest part of their day is, what their challenges are at work and what they try to avoid.

It can also be worthwhile identifying business opportunities via hobbies, listing activities that you enjoy and then pinning down why you like them. Read more

Martin Kovacs - Smart Company - 16 Oct 2017