Topic: How do you come up with business ideas in crypto space? (Read 495 times)

Though he may have a point now.

A new idea. A new age. That's intelligence. Let's say Bitcoin.

But now you can't really go and introduce new ideas into new ideas, that's just being meta. You can still succeed -- let's call that blockchain marketing or simply marketing, since all business promotion now is really just shaded versions of marketing.

How did cryptokitties make its mark? How did OneCoin or even Bitconnect do? Almost nothing to do with blockchain, almost nothing to do with new ideas, almost nothing to do with intelligence, almost everything to do with emotion. Greed, fear. Maybe there's a point after all.

Every current operating business can be integrated into blockchain.  This discussion will make me review some business idea to you. For instance,  cocacola products be found in almost every country, therefore think about the lapses of cocacola despite it presence across the world.
You could generate a cryptocurrency that will be tied to cocacola product, to make it use a unified currency that will aid easy purchase of it product without converting your country currency in any country you visit.

Emotions? That's exactly opposite to where good ideas come from: - Intelligence.

You started LottoShi (a terrible catchy name to be honest) with greed to make a lot of money? That makes me not want to trust your site anymore because you are greedy and can run away with my money anyway.

Like with any other business, to catch an idea you should cleary understand which problem you would like to solve. In my own expierience, a good idea can be found only when you have found a lack of solution by yourself.

Let's say you have an office in a business tower. Everyday you are thinking about drinking a coffe before you start working at your office. But there is no coffe shop and you are gacing with a need to go  to the neighbor business centre, spend your time and get in the rain during rainy days.

Other tower residents and maybe even visitors are probably expierience the same problems. By making coffe shop you can solve yours problem and others people problem.

That is how good business ideas are borning. 

Well, unlike fiat, crypto is itself an growing and adapting start-up itself so that gives it the extra cool name and anything that's involved with it or as a means is automatically an elite start up. So, all startups that can be initiated with fiat can be started with crypto. More applications of blockchain can be used like keeping police records, property information in the blockchain.

Start with some kind of emotions,
Fear - Losing their money - custodian services
Greed - Gambling

All products start with some kind of emotion, the stronger the emotion the more popular

.

Gaming, Advertisement, E-Commerce are three major business that can be made and integrated with crypto, except the cryptoexchange stuff.

Business ideas should be something we really interested with, so we can enjoy the progress of planning,developing and promoting it since if we don't know how to like and put ourselves into it we will be unable to make it grow or known. Im planning on creating a crypto payment app for our mini store and shop, though there are already this apps but I want it specifically made for my business,

I think the goal for now should not be to come up with a business idea, but with a technology idea. Business idea brought about many scam ICO's in the past year. Think of a technology improvement to do , and that would be better. Also i am a freelance developer and will be willing to work on your project.
Telegram: @developeruae

That is the SCAM artist did in the past years which is why crypto was flooded by ICO scammer who thought their project solves problem and needs to be tokenized. Projects are good but it has to be well thought of that it wouldn't sound like a joke on its own.

Almost every possible idea were explored already in crypto so if you can create something out of your idea but will only become centralized, it may still fail in the end.

I think it's better to looking for what the needs of the people around you first, I mean if you want to create new opportunities, you have to think what the needs of people around you are, solve their problems with your ideas so that your ideas are recognized by people around you and then you can spread your wings all over the world.

Oh! Starting a new business is child's play.  Just send me 10 BTC today and I _guarantee_ that you'll be a billionaire in 30 days. Hurry! This offer won't last.  Limit of 5 per household.  Problem solved. :-)

IMHO you have to start at the bottom and study general business management skills.  A critical, but frequently overlooked part of this is to learn basic bookkeeping and financial analysis.  Any endeavour you have in mind requires assets (and perhaps) liabilities to start, will certainly consume expenses, and if you have the right balance of smart and lucky might even generate some revenue.  Is this project making a profit? If not, do you have enough cash to feed it until it does?  Even if it _is_ technically turning a profit, what rate of return are you making on your invested capital? Is that enough? These are examples of questions that are generally and basically useful, regardless of whatever business you're in.  I cannot count the times I've heard people excitedly explain some business idea w/o any idea that these questions even exist. 

Any fool can borrow money or torch his hard-earned savings or whatever windfall of cash he's acquired and "start a business."  He can rent office space, hire people, buy hookers 'n' blow and generally be the BOSS until the cash runs out.  Then it's party over time.

Another thing to get all gloomy about that there's something very horribly wrong with money, economy, and politics in today's world. One element of this problem is that there's a vast amount of "money printing" going on.  Not literally "printing" as in the olden days, but the creation of new money ex-nihilio is red-lined and getting worse.  This flood of newly created money flows into the pockets of politically-connected people first, via bank loans.  They can then use this cheap and easy credit to build any fantasy they can imagine.  Said money continues to flow into the economy generally, pushing up the price of productive assets, thereby driving down the rate of return on them.

So now the world is filled with people who literally have more money than they know what to do with.  They cannot find sufficient rate of return.  So they double-down on whatever they're doing now and/or copy what a million other people are already doing.  This gives us vast over-capacity almost everywhere.

Yes, yes... I know... there's nothing we can do about these things but we have to use them anyway.  Well, that's an example of "sucker deal."

If I had an easier answer I'd be doing it myself and not telling folks on the Internet about it :-)

pooya87 said... "businesses only fail when they are run by incompetent people who have no idea how to run and grow a business."

Able management is no guarantee of success.  Businesses are frequently killed by outside forces, regardless of the quality of management.

What would you say is the main reason that it's harder to do international business than a local one (speaking of digital business era)?

Well, no problem man cause in any way no one will share their business idea so feel free to discuss with things that are already around.
But I would say, new business idea comes from a lot of researches and thinking, to create something new. There are a lot of songs and musics, yeah? But people still create amazing and unique ones, it doesn't depend fully on you but on your brain and creativity too. Some people have ideas - others have money, unite of them brings us great projects.
Exploring new opportunities in crypto world hugely depends on the country where you live, otherwise, doing international business is very hard.

Ideas are like flash of light, the first step in getting a constructive idea is to have an open mind ready to assimilate any thought, you need a good memory or writing pen in order to remember hundreds of ideas that flows through your mind.

The best way is to be active in the crypto space, this will make it easier for you to notice problems that is calling for solution, business could be described as a system that create solution to a problem/need.

exactly... businesses only fail when they are run by incompetent people who have no idea how to run and grow a business. it is not an easy task, it requires a lot of experience and a lot of constant effort. for example i have seen a lot of new businesses come along that they don't even bother advertising their services or spend so little time and money in advertising it. they have no decent customer support, don't listen to feedbacks, and don't change or improve. at the same time they expect success!

You mean if you create a product or a service that doesn't exist already has much higher chances of success? I don't think so. Have you watched the Shark-Tank? They get new ideas and products every week but how many of those actually hit the market? Also, with that logic, people would have stopped creating gambling sites or crypto wallets since there are too many of them and the market is very established? There is UBER but new Taxi apps continue launching. It doesn't work like that. If you see shortcomings, you can provide something better alternative over the existing products, people will slowly adapt to the new service. There was no "demand" for facebook like website, Zukerberg created that demand. Look, how many social networks you see around now!

From my experience these are exactly the things that doesn't really work. If you run a business in established market, you'll most likely fail regardless of whether the competition sucks or not, they were first. That's the most important thing. The only reliable business is to be first to provide some service or sell some product. The problem with a new idea evaluation is that you never know the reason why it doesn't already exist. Is it because it's a genius idea and only you can provide it, or is it because there's no demant for it.

Certainly, there are but you tend to choose the one you're most comfortable with depending on your background. I can't think of an idea for you.

So you need an idea on how to come up with an idea? For most people, it's either intuitive or from experience. The idea is not everything, you can't be a professional footballer and have an idea to design a car like Tesla. I look at the existing projects, find their shortcomings and figure out ways to fix them. Or use the existing crypto services and think about how the experience can be made simpler. For instance, I want to create a payment gateway that is way better than BitPay and doesn't ask for KYC.

If ideas don't immediately pop into your head, then you're probably in the majority of people that are practically incapable of ideation.

Personally, if I want to think of a monetizeable idea, I just need to look at the area I want to monetize and ideas will automatically start appearing in my head.

Ideation isn't really something you can just force (as far as I know). Maybe you could try identification unmet needs in the market, and then work from there.

Or you can pay guys to generate ideas for you.