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Saturday, October 15, 2016

WHAT YOU NEED IS AN IDEA NOT CAPITAL

Written by: Isah Samaila Nitte

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We are in a digital world where almost everything is integrated into a single system of the World Wide Web. We are in an era where we don't have to have a shop to sell our products, an era where we don't have to meet to communicate, an era where we don't necessarily need to follow the traditional door to door method to advertise our products but rather an era where everything is done in a simple and faster way.

With the high rising level of graduate unemployment in Nigeria, I began to think of the way out as I will soon be graduating from the University. Then I recalled listening to speaker at the World leadership forum emphasizing the statement “You don't need capital, what you need is an idea".

I began to brainstorm about the statement for the fact that I am scared to be an unemployed graduate like the millions who are yet to secured a job.

However with time, I began to understand that the leading world entrepreneurs never started with a capital but rather an idea. 
Bill gate the richest man in the world never did start the Microsoft with an a huge capital but rather his idea, 
Mark Zuckerberg the Facebook CEO who is also the fifth richest man never start the Facebook with capital but rather an idea, 
Steve job who is also a Co-founder of Apple start the company to revolutionized the smartphone industry with just an idea, 
Jobberman was created out of an idea, 
Linda ikejis blog was created out of an idea and in fact every good business that developed into a multimillion dollars was created out of an idea.

To look further into it, I discovered that capital is easier to get but no matter how huge a capital is, without a good idea the capital is a waste or can be lost. Whereas a good idea is difficult to find and never can it be lost. So the question remains how you discover a multimillion dollars idea.

How do you break from the chain of unemployment in Nigeria?

Below is a five tips to discover that business idea that will change your life forever.
5 TIPS TO DISCOVER A GOOD BUSINESS IDEA

1. OBSERVATION
To discover a good business idea, one has to observe things and circumstances around him. As you wander in the land of observations you need to be able to identify what people do often, what challenges they face on a daily basis, what they need, how they want their needs to be met, when and where.


As you observe and ask yourself all this questions you must be able to identify the way out. 
Steve job will often go to the park to observe how people listen to music, Mark Zuckerberg possibly observed what if he and his friends don't necessarily have to meet on a daily basis but rather connect online to gist and share pictures, JOBBERMAN knew people submit their CV and application letter directly but what if they can do it on their behalf.

So the most important aspect in discovering an idea is to observe the market you are interested in, how do they go about doing their businesses, is there anything that needs to be readjusted and many more things.

2. IDENTIFY A PROBLEM
Your observations will be futile and unnecessary if you are yet to identify a problem in the way people conduct their business. Idea can only be realized out of the desire to offer solution and better services to people. 

JUMIA and KONGA discovered a problem in marketing, so they create an online market where you make purchases and get it delivered to your door steps, if you are yet to discover any problem that needed to be resolved then you are far from identifying a multimillion dollars idea.

3. OFFER A SOLUTION
Now that you have discovered the problem in the way people conduct their business as an entrepreneur, you must offer a solution that fills that gap or void of no satisfaction in the customers of such market. 

This can come by reading books and materials related to that niche of business.

4. MAKE A FEASIBILITY STUDY

Have you discovered that idea you think might fetch you millions, you shouldn't just ventured fully into it but rather make a feasibility study to ascertain if that solution you are to offer is viable. 

This entails possibly preparing a survey or a questionnaire to hear the views of your potential customers about the service you are about to offer and how they feel about it. You must however delink your emotions from the answers you received.

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