Who loves Shark Tank? Every episode I ask myself, “why didn’t I think of that?” Did you see the one with Buggy Beds? I had a run-in with bed bugs on a hostel stay during my college years. I should have thought of that.
So, how do you generate great (Shark Tank worthy) ideas?
We know that there’s strength in numbers, so one key here is to come up with a lot of great ideas to find the one that’s quality shark bait.
Also, you can try the following methods that will help you generate great ideas like a machine:
1. Embrace Failure
When you want to find a new idea to solve a problem, start with thinking about how you will fail.
Wait, what? Why would I ask you to start by brainstorming failure?
They call this “inversion theory.” You probably have used inversion in math, and the same idea applies. It’s using the opposite effect to “undo” a problem.
- 50-5=45 (back to where we started)
Let’s apply this mathematical concept to problem-solving. Let’s say you want to launch a new product. Start by thinking about all the ways your product launch might fail.
Here are some examples:
- Lack of customers
- Targeting the wrong market
- Incorrect pricing
- Failed marketing
- Wrong positioning
- Poor timing
It’s easy to think of how you might fail. Next, find a possible solution for each of these failures.