In this article we're going to look at some ways to generate unique and interesting ideas for products.
I'm going to give you some solid ideas on how to look at current trends as well as discuss a method for generating your own killer ideas.
Perhaps you can identify an idea you'd like to develop by recognizing an emerging trend and then focus in on a specific way to cash that idea using a very cool brainstorming technique we'll describe in the last part of this article.
The first thing you're going to need to do is notice what's going on around you.
What's hot? What are people spending their money on? Something I do on a fairly regular basis is look at the non-fiction bestseller list.
This makes sense to me since I'm in the writing and publishing business, but there's a reason beyond that that will benefit virtually any business person.
You'll definitely notice both national and international buying patterns and trends forming by watching these lists.
Why? Because books are often the blueprints for the next popular phenomenon.
A few years ago there were dozens of books on stock market investing dominating the lists.
Today there are few.
That isn't the point though.
What are the books people are reading now? At the time of this article we're heading into a presidential election.
Political books will be popular.
But go beyond simple partisan politics and look at underlying trends.
It's no secret that many people are fed up with the present administration's foreign policy and a war that is triggering inflation.
If inflationary trends take hold long term, what product or service might you offer to capitalize on such a trend? As food prices continue to climb maybe information on home gardens, or home brew would sell.
I can envision a wide array of "do-it-at-home" ideas leading to products.
Listen to what the candidates are saying and what they are planning to do if elected.
What if a new presidential administration decides to increase government revenue by implementing a federal tax on Internet purchases, or email? What sort of trend might develop out of such a law? I'd guess there might be an exodus of ISPs moving offshore allowing their customers a safe haven from the new taxes.
Perhaps it would make sense for businesses to incorporate offshore as well.
Where might they go? The Bahamas, Panama, the Cayman Islands? Maybe doing some research now on how to get set up in business offshore will reap big profits if you're ready with a guide or eBook helping folks that will be scrambling for such information.
Also sprinkled throughout the list are relationship books, health and fitness books, biographies and more.
Are there any budding trends to be found here? What changes do we face in the United States as we move closer to globalism? Will we manage to stay on top as international providers of food, technology, medicine and entertainment? What role will China play? What will be the impact of the North American Union (the virtual melding of Canada, the U.
S.
and Mexico)? Most of these possible trends are "big picture" developments.
The smart entrepreneur will have the foresight to anticipate how such trends will translate into business opportunities and profit.
My point is this: How will you know what trends might be sweeping the country unless you're looking? You won't.
On a more national and even regional front, an excellent way to find out where people are putting their attention is by monitoring search engine queries.
Do you suppose you might be able to get a heads-up on developing trends if you knew which searches were popular and which ones were falling from favor? But don't stop there.
Find out what people are buying.
eBay is a huge marketplace and one can easily take the pulse of a very large body of retail buyers by examining both sales and popular searches.
This is extremely valuable information.
Again, the point in trend watching is to position yourself to develop a product or service and place it in front of a wave of new activity.
Okay, you've identified a trend so what should you sell? Generating original product ideas presents a challenge for some of us.
I know it once did for me.
One thing I've found that works very well is to not attach a sense of white-knuckle urgency to it.
The best advice I ever received regarding the generation of ideas is to simply turn it over to your subconscious, or to sleep on it.
More often than not, you'll find the answer when you're least expecting it.
And when that answer shows up be ready to record it or it could slip away just as easily.
If you'd like a more proactive approach you might want to try formal brainstorming.
This is a process where several like-minded people get together to generate ideas.
Here's how it works: Between three to seven (three is the very minimum) people gather together in a comfortable setting.
You first discuss the goal for the session.
For example, what product or service can we develop or sell that would take advantage of the blossoming interest in...
? Then fill in the blank.
One person (with rapid and legible handwriting) is assigned the duty of recorder and for the next 45 minutes to an hour, each member of the group calls out ideas and words that are associated with the goal of the session.
During this time there is to be no discussion of the ideas.
There is to be no criticism of ideas.
All ideas are recorded - outlandish, silly, irreverent, serious, related, unrelated, retarded, everything.
The reason for this is, often an idea that seems unusual or unrelated ends up being a true winner.
And by all means, if ideas are flowing freely, don't stop the session because of a deadline - keep going! After the session, the ideas are divided among the participants and feasibility studies are conducted.
This is one of the major idea generators used in smart companies today - because the results are often miraculous.
Coming up with great product ideas isn't difficult.
Like most everything else, one can follow an established system to generate great ideas.
First you'll want to look at the big picture and see which way the masses are heading.
You'll need to wisely anticipate what certain national and international events will mean to the marketplace.
It's all about change and how that change affects people.
And you can be there with the perfect product to make that change easier, more beautiful, tastier, less traumatic, better, less costly, more palatable, and if you hit it just right, most profitable.