So let's start this module with the first chapter, how to think of new ideas.
So for those people who are looking for ideas, there's one suggestion from my site, never look for
ideas, always try to solve the problems.
If you are someone who is trying to solve the problems which are already there in the market, you end
up generating new ideas.
But if you only focus on ideas and do not focus on problems, then you are solving something which people
don't really care.
Now I will tell you three different ways by which you can think about ideas.
The first ways giving a problem.
So from the time you wake up to the time you sleep, you will encounter with almost hundreds of ideas
every single day.
Now, that simply means that if you look on these problems and if you try to solve those problems by
yourself, you end up generating some good business opportunities.
I'll give you a couple of examples.
If you hate scrubbing your windows, there are so many companies like iRobot, these companies are really
successful in United States.
I mean, these companies are scrapping windows for big corporate offices or houses.
Also, if you hate waiting for taxis, we have companies like Uber who just bailed out of the basic
problem of waiting for taxis, negotiating with them, and the people don't really have that much amount
of time.
And that's how these companies operate.
I think one more example.
You hate hotels and that's why you don't like the experience of going to a hotel.
It's not hygienic.
It's not a place where you can spend some time.
That's why companies like Airbnb in maybe North America and oil in Southeast Asia, these companies
are going very fast because they provide a standardised experience to the customer so that they will
feel happy on their holiday or maybe on their vacation.
Now, this simply means that you have to keep a problem.
So whatever problem you are facing on your day to day life, you have to write all those problem on
a on a diary or on a piece of paper.
And you have to think that what how can I solve this problem more efficiently and how can I create a
better product to solve this problem?
The second is finding a product gap.
So you already have so many products in the market and sometimes you feel like, hey, man, I don't
really like this product.
I really want to build something new, but I don't know how to find a product gap.
You just have to understand what is the basic problem this product is solving and how efficiently this
problem can be solved.
And that's how you think about a business idea.
I'll give you a couple of examples.
There are so many people who do not like me I'm talking about.
Because they can't really automate the task.
For example, you have a meeting date and a meeting, call them in your mouth and you really want to
automate those tasks.
For example, if you have a meeting on 15th, then book zoom, call for me and deliver this message
to this client of customer.
But you can't really do those things.
That's why companies like Editable are there.
Now is a space where you can really automate all the function.
If I have a meeting on this date, then book, appointment book, assume goal and deliver this message.
So they have multiple plug ins, which you can attach and you can put if else.
What if all these kind of functions.
Now that thing is not really possible in Amazon or in Google Street.
That's how companies like er gaming.
So I know a couple of people who can really manage their team well and the basic problem is they don't
know how to track down the process, how to assign a proper task to them, and that's why software will
come handy.
I mean you can simply assign a task, you can track down the process of the task.
You can see whom you have assigned this task to and what is the deadline, what are the functions.
And you can really do some amazing stuff.
And that's why it's very useful.
Let's take one more example.
A lot of people find it very difficult to be to guard every time they shop online or maybe in a restaurant
or maybe in a grocery store.
And that's why companies like Petmin solving these kind of problems.
Now, with the help of PDM, you just need to scan if you are going to just need to pay other bills.
And with the help of you buy it just a one day process, you do not need to give your card every time
you show by or produce anything you do not need to put in.
And so many kind of stuff every time you apologising something from a grocery store or something online,
that's a very handy tool.
And that's how people end up creating good product just by looking at the problem which are faced by
people in the current scenario.
And then they will think that, OK, how can I create a better version of the existing product or the
existing problem?
Now, time we have disruptive innovation.
Now, all these start up do not have any market right now, but you are doing these innovative things
just to create a market in next five or 10 years.
I'll give you an example.
Self-driving car.
So currently there is very little market for self-driving cars, but a lot of companies are putting
huge amount of capital because they know that down the line in five, six or 10 years, this technology
is going to be very helpful for a lot of people.
And that's why they are putting billions of dollars in creating self-driving technology.
Google is there.
Toyota is also doing it.
Ford is also doing is Tesla is already the market leader in the self-driving technology and so many
other companies which are still working.
Then you have companies like.
SpaceX, who is taking people on Mars now, this approach sound a little funny in the gun scenario,
but if you look down the line for 10, 15, 20 years, this will become a possibility.