There is some degree of repetition when it comes to the latest tech hype. It is no longer about new ideas but rather about reworked innovations. In the rare cases when an entirely new idea progresses to an innovation, the market is resistant to its emergence. In a business world where profitability is often the first consideration, the encouragement of new ideas is not always as forthcoming as we would like to think. Ultimately it impedes aspiring entrepreneurs with new ideas who can never find their footing in starting a viable business.
P + S = O
But how does one start a business without a product idea or service concept? It always comes back to the age old P + S = O. That is not a zero but a capital O. If you are not familiar with it, opportunity (O) lies in finding the solution (S) to a problem (P). Irrespective of the internet being such a different ‘beast’ to other platforms, the same principle applies to online success.
However, for many aspiring entrepreneurs the problem itself lies in that many are not able to find a starting point, namely they are unable to identify a potential problem that needs to be solved. Without seeing the problem, mulling over it and researching it further, an idea is unlikely to subconsciously arise save for a select few who are gifted to see solutions without even identifying the problem consciously.
And without an idea, innovation can never be born. The cycle goes on and a startup never emerges which in time can become a viable business.
The term ‘incubator’ in tech circles and with start-ups at large usually means an environment where resources are provided to help start-ups succeed. But without an idea, these start-ups could not even exist. It may be a time to establish an incubator for ideas, where aspiring entrepreneurs can access the resources to form ideas for everyday problems.
Idea incubators may not need to be as formal as startup incubators and can start even within the home. The key is to encourage independent thinking, drive awareness about the problems in everyday life that is often masked by the consumer mentality, and allow for insights to be explored for ideas to emerge.
To some extent this is seen with formal think tanks, which are not accessible to the masses. With the right approach, in line with the drive to teach children to code, idea incubators can be established globally to harness the creativity of a young generation who will be the entrepreneurs of tomorrow.