Combine technologies to invent new ones that will address real customer's needs.
One of the best ways to find an idea for your new venture is to look at the technologies that are currently available to you and create something new by combining them.
By completing this exercise, you will be amazed at how many new ideas for businesses you will get. For example, by combining GPS technology with social networking, you could create an app to show you all your nearby friends.
- List the technologies that you and your co-founder know of.
Focus on new technologies.
- List combinations of these technologies.
Can you combine two or more technologies?
- Think of the needs that those combinations could satisfy.
For example, solar + webcam can produce solar-powered webcams.
- Confirm that the needs are real and not already being satisfied.
Research and discuss them with prospective customers. Be cautious with using technologies to suggest needs. Take the extra time to confirm that there is a real customer need.
Each time you become aware of new technology, brainstorm to see if you can satisfy a customer need by using it.
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