The Art of Generating Successful Business Ideas

Leading Nigerian entrepreneur Kashim Bukar Shettima oversees companies in a variety of industries, including transportation, agriculture, and natural resources, through Barbedos Group of Companies Ltd. Kashim Bukar Shettima began his conglomerate as a fertilizer and agricultural supply firm that eventually expanded into other industries.

Although many entrepreneurs struggle to generate business ideas, the process is easier than most realize. To begin, entrepreneurs often write down the items or processes in life that cause them discomfort or irritation. By recording the problems as they come to mind, reserving judgments, the entrepreneur can create a repository of needs that potentially serves as the basis for a product or service.

Once complete, such a list can be analyzed to determine which issues affect the most people, thus constituting the largest potential audience or market for any solution to such issues. During this period, entrepreneurs may also want to consider their strengths and weaknesses from both a personal and business perspective. While an individual may have a great idea, he or she may not have the skills or knowledge necessary to translate it into a product or service. Some may start with another idea or recruit a friend or acquaintance with the skills needed to provide the product or service and work as a team to execute the idea.