How to Get an Idea for a New Business

You can use the same method that generated the idea for Twitter to create a new idea for your business. It just takes a little brainstorming and a few important ground rules. 

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


LinkedIn meets Tinder in this mindful networking app

Swipe right to make the connections that could change your career.

Getty Images
Sponsored
Swipe right. Match. Meet over coffee or set up a call.

No, we aren't talking about Tinder. Introducing Shapr, a free app that helps people with synergistic professional goals and skill sets easily meet and collaborate.

Keep reading Show less

Wealth inequality is literally killing us. The economy should work for everyone.

This economy has us in survival mode, stressing out our bodies and minds.

Videos
  • Economic hardship is linked to physical and psychological illness, resulting in added healthcare expenses people can't afford.
  • The gig economy – think Uber, Lyft, TaskRabbit, Handy – is marketed as a 'be your own boss' revolution, but it can be dehumanizing and dangerous; every worker is disposable.
  • The cooperative business model can help reverse wealth inequality.
Keep reading Show less

The most culturally chauvinist people in Europe? Greeks, new research suggests.

Meanwhile, Spaniards are the least likely to say their culture is superior to others.

Image: Pew Research Center
Strange Maps
  • Survey by Pew Research Center shows great variation in chauvinism across Europe.
  • Eight most chauvinist countries are in the east, and include Russia.
  • British much more likely than French (and slightly more likely than Germans) to say their culture is "superior" to others.
Keep reading Show less

People who engage in fat-shaming tend to score high in this personality trait

A new study explores how certain personality traits affect individuals' attitudes on obesity in others.

Pixabay
Mind & Brain
  • The study compared personality traits and obesity views among more than 3,000 mothers.
  • The results showed that the personality traits neuroticism and extraversion are linked to more negative views and behaviors related to obesity.
  • People who scored high in conscientiousness are more likely to experience "fat phobia.
Keep reading Show less