How to Get an Idea for a New Business
What’s the Latest Development?
When entrepreneur Jason Nazar wanted a new idea for his business, he turned to the method which produced the idea for Twitter, a website you may have heard of. But before there was Twitter, there was Odeo. And when its founder, Evan Williams, decided the company needed a fresh start, he broke his employees into small groups and gave them a week to generate a fresh idea. Jack Dorsey came back with Twitter and the rest, as they say, is history. When Nazar implemented the same strategy, his employees returned with a similarly unique idea which is now under development.
What’s the Big Idea?
Nazar had an idea of what ground rules would produce the freshest and most effective ideas. First, he thought there needed to be some parameters. ‘They had to be able to make $1 million in the first year and we had to be able to build a minimum viable product in three months,’ he says. Then he paired engineers with business people precisely because they have little experience working together. When the teams return with their ideas, Nazar recommends paying attention to the people’s choice even if a judging panel selects another project as the winner.
Photo credit: shutterstock.com