ASSIGNMENT NO: 2

Aim: Submit a profile summary of a successful entrepreneur indicating milestone achievements.

What Is Brainstorming?
Brainstorming is a creative process where a person or group sits down with a problem in mind and
spontaneously contributes solutions to that problem. Brainstorming methods can be as simple as making lists
or as detailed as making a mind map. It usually happens during the beginning stages of a project, and its goal
is to end up with many ideas to help define the problem and all the possible creative solutions. You can
brainstorm using a whiteboard, online software, or just a piece of paper and a pen.

3 Techniques for Effective Brainstorming Sessions

• 1. Go for quantity. While brainstorming, you may feel yourself wanting to focus on only a small
number of ideas—try to resist this urge! Coming up with as many of your own ideas as possible will
help you unlock new avenues of thought, and you can keep building off of your old ideas to come up
with better ones for even better brainstorming.
• 2. Don’t judge the ideas. Creativity can be severely dampened by inhibitions; when you’re worried
about the quality of every idea you have, you often won’t be able to generate enough ideas to really
explore your imagination. For truly effective brainstorming, let yourself think freely and go wild—
save the judgments for later.
• 3. Brainstorm in a group of people. Where possible, try brainstorming with at least one other
person. Everyone’s minds are a little different and bringing a few team members in to offer ideas
from different perspectives is often the best way to explore ideas you wouldn’t have come up with
during individual brainstorming.

6 Steps of Brainstorming:
The brainstorming process is the perfect way to generate great business ideas—for business experts and
beginners alike—because it’s all about creative ideation and problem-solving, and it avoids putting
limitations or restraints on your thoughts. If you want to start a new business but you’re not sure what kind of
business model to use, following a few brainstorming steps can help you unlock your imagination and find
just the right brilliant idea for a successful business.

1. Brainstorm Your Purpose

When brainstorming ideas for a business, a great starting point is to find the thing that will keep pushing you
forward, otherwise known as your “why.” Why are you doing this? Why is it important?
There are three pillars of a business’s purpose:
• What you enjoy doing. You want your business to focus on something you enjoy—otherwise, you
won’t enjoy running it. This can go beyond business and encompass hobbies and types of activities,
like “telling a story.”
• What you are good at in life and at work. Ideally, your business should take advantage of the
skills that you’ve already developed—whether that’s something as job-specific as coding or as
universal as listening to people. You may not have the most experience in an industry, but think
about this: Are you a person who knows a niche intimately for another reason? Might the people
making products in a specific industry not have your unique ideas and knowledge about those
products? You may know more about what you want to make than all of the people who are already
making products like it.
• How you want to serve the world. The best way to come up with this list is to ask yourself what
pain points you’re aware of—what is the unmet need that you can fill. If you’re having a hard time
answering this question, consider making a log of every product, design, or process you come across
that bothers you, and then offer a few solutions. During this process, it’s vital that you outline your
potential customers, as well—who will you be serving, and how? Knowing your target audience and
target market will help you further define your purpose.

While you’re brainstorming your purpose, you should constantly ask yourself “why”: Why doesn’t a certain
product exist? Why isn’t a rudimentary task done in a more efficient way? Why hasn’t any product or service
within a specific space evolved for a while?
2. Let Your Mind Wander
Give yourself some room to dream by putting yourself in a creative mindset. Go someplace where
you know you won’t be interrupted—for instance, your bedroom, or somewhere in nature—and
start by getting quiet. Spend a few minutes wiping your mind off other tasks and worries. Focus on
creating a blank slate upon which to sketch some business ideas.

If you’re having a hard time finding out where you do your best thinking, try this: Every day for a
week, spend 20 minutes brainstorming in seven different places. After the week is over, evaluate
which place lets you be the most creative. Once you find the place, spend another week thinking in
that space for at least 20 minutes per day. If you realize that you rarely find yourself in your best
thinking space, make a manageable change in your routine to put you there more regularly. Maybe
that means fabricating a commute, or maybe it means foregoing your favorite podcast while you
shower so you can brainstorm ideas instead.

3. Research
Once you have a good list of business ideas, it’s time to start doing some research to hone and
focus on the ideas. If you’re just starting out in your industry, then you may not know what
questions to even ask about your business, so you should start by doing some basic research of
your industry—do some Google searches of its history or go to your local library and take out some
books about the field you’re entering. That will prepare you with a knowledge that manufacturers
may not expect from someone just entering their world and could engender some respect.

4. Filter Your Ideas

So, you’ve collected some solid ideas and done some research, but you still need to figure out which one is
your idea so you can start making your business plan.
Three common filters that successful entrepreneurs will use to home in on their top priorities are time,
money, and resources. You can evaluate each idea based on those priorities to determine which creative ideas
are really feasible for you. To evaluate your ideas, ask yourself these questions of every idea on your list:
• How hard is it going to be to make this product?
• How much will it cost to make?
• How many manufacturers will it take?
• How much will it cost to ship?
• How heavy is the product?
• How big of a team do you need to help you make and sell your product?

You can also use SWOT analysis (strengths, weaknesses, opportunities, and threats) to help evaluate your
brainstorming ideas.

5. Name Your Business

It may seem strange to think about naming so early in the brainstorming process, but there’s a reason a name
can help you early on: when you name something, it makes it feel more real. Giving your business or product
a name now can help give your ideas, life and energy.

To come up with some names for your business or product, try playing a little word-association game during
your brainstorming session. Without thinking too hard, focus on your business and quickly write down the
first five to ten words that come to mind. Now play around with those words—combine them or change a
letter or two and see what you can come up with.
6. Develop Your Idea Before You Share It

Communication and validation are part of human nature. When you come up with an idea you love, you may
feel the need to share it right away with the people closest to you. But sharing your ideas too soon can cause
problems: sharing ideas leads to immediate feedback, and that feedback may not always be helpful, even if it
comes from a place of love or concern. You may be elated about your idea for a new product only to be met
with doubt from your friends and family.

If you take the time to really work on and develop your idea—doing the market research, asking yourself all
the pertinent questions regarding your time, money, and resources—you’ll have thought about all its potential
successes and pitfalls. That means you’ll have answers ready when friends or family come at you with their
skepticism. What’s more, any negative feedback you might get won’t likely lead to you abandoning your
project; you can be confident in the work you’ve already done.

Even if you don’t share your idea with your friends and family right away, there are some people you should
speak to about it. Consider getting lawyers and manufacturers involved early on—you’ll need people to help
you create your prototype or defend your idea by establishing intellectual property rights or getting a patent.