Some people come up with a great idea for a product or service and become entrepreneurs to turn that idea into a business. Others start with an entrepreneurial mindset, then begin casting around for ideas.
I’ve been speaking with entrepreneurial types around the country recently, and there are a surprising number who fall into the latter category. One particularly interesting model is a group that includes Patrick Traughber of San Francisco. He and a cohort of fellow entrepreneurs follow running or cycling outings with brainstorming sessions.
Traughber worked for city government and a video game company prior to launching his own business. Both environments promoted innovative thinking and problem-solving, which he says is the genesis of many ideas the group hashes out.
“We look for something that solves a problem, or improves on an existing solution,” he explains. “When my partner and I started our business, we made a list of things we wished we had, then began researching from there.”
Traughber says he also looks at ways to break down larger problems. “Sometimes finding a partial solution still provides a viable opportunity, which in turn can lead to larger opportunities,” he says. “You might start with a better way to make seat selections on plane flights and end up creating a new airline.”
Traughber emphasizes the positive nature of the group’s brainstorming. “There are always a million reasons why something won’t work,” he says. “We focus on ways to make it work.”
Though not formally structured – they don’t even have a name for themselves – most members of the group have known each other for many years. This creates a level of trust that enables a free flow of ideas, Traughber says, noting that there are so many opportunities that there is little concern over competition.
Today’s fast-paced world also means that ideas can be tested quickly.
“With the technologies we have today, you can build a prototype over the weekend and show it to your friends on Monday,” Traughber says. “If they like it, you pursue it. If not, you drop it.”
He notes that the same principle holds true in the marketplace. “Many ideas can be rolled out on a small scale first, and if they don’t work, it doesn’t cost much.”
Above all, Traughber and his group maintain a constant level of excitement. “You can build stuff so quickly that can affect so many people,” he says. “This is a really fun time to be creative!”
It Pays to be Social
They say nature abhors a vacuum, and entrepreneurs should as well. While it is natural to want to protect your ideas, they will almost certainly benefit from some focused brainstorming with other forward-thinking, innovative people.
Plugging in with fellow entrepreneurial types offers you more than just a sounding board for your ideas. You’ll access tips on financing, marketing and other key aspects of launching and operating a business. You may also find opportunities to participate in entrepreneurial workshops, contests and seminars, and you’ll have the support and motivation of people who are experiencing the same challenges, frustrations – and hopefully successes – as you.
Local organizations like Propeller and Idea Village are a great source for events and gatherings – such as Entrepreneur Week in March – and other functions that bring together adventurous, enterprising minds.
