IDEA! As we spell it out, we can look at it from different perspectives and definitions. The basic definition of an idea is “a thought or suggestion as to a possible course of action.” By halving this, however, we get “a thought” and “a possible course of action.” This, as we know, can vary from person to person. After all, everyone has unique mindsets to offer, with different ideas being formed from our varying mental abilities to conceptualize.
In this article, I am going to extend this original definition towards what I feel an idea truly is. When we expand the word ‘Idea’, it is a composition of the words - Innovation, Design, Entrepreneurship, and Application. These terms are the fundamentals of what makes up an idea, and exploring them further may help determine what makes business projects successful.
Innovation can be defined as a change in an idea. It takes place almost like a shift, in which we come up with new thought processes and transform them into commercial applications. It is the first step in the path towards the implementation of an idea. Innovation is something that makes a difference in society. As such, though we often refer to it as an idea, it is but a small fraction of it. This initial step can present a natural step forward in concept’s development, a leap to the next generation of that concept, or a completely new and different way of doing something altogether. Innovation is an essential integration in business. Having ‘innovative’ ideas helps a company visualize the future and develop something unique, in turn increasing the demand for the product they have innovated.
Design is the visual and mental creation of an idea. It represents a way of looking at things. Any image that pops into your mind is a design of what you imagine and visualise. Design is used in a variety of ways, whether it be designing a meaningful company logo or outlining a product for change. To design a product or a service, ideas must come into play. Though they are not fully clear, they are something to ponder over. This clarity is brought out through design.
Entrepreneurship, by definition, is the activity of setting up a business or businesses. Oftentimes, it involves taking on financial risks in hopes of turning over a profit. Every business idea needs to be thought of from an entrepreneurial mindset. Ideas are best implemented when the entrepreneur is willing to take risks and bring all the factors of production together. In fact, having this kind of mindset increases the chance of an idea succeeding! Moreover, entrepreneurship is necessary in establishing business ideas, managing the required resources, and giving it the leadership it needs to evolve further.
Application is the last and most crucial part of an idea. Without it, ideas can not be brought to reality. By definition, it is the action of putting something into operation. Without having an application for an idea, there is no point in thinking about it-- you’d just be wasting time. Develop an idea that can solve a problem and can be applied to real life. This will increase your chances of selling a product that is useful to the consumers.
Everyone has an idea. However, what makes it different is the way it is processed. An innovative idea will increase the chances of people being surprised by what you bring to the table for them. Designing it according to what people want and how they want, makes it more attractive to potential customers. Being an entrepreneur offers you a breadth of skills to bring out the best qualities of your idea, teaching you that risk-taking is the most important skill you can have. It helps settle on choices without having any dread and remembering all the other various aspects in mind. Having a thought isn't sufficient yet applying it to genuine circumstances is the thing that has an integral effect. Ideas have the power to bring change therefore, always remember that #ideaschangelives.
An interesting video on the art of innovation!