The 5 tips by which you will get killer ideas to make your business big. - How do people get ideas to make their business big? - How to get a high valuation and huge funding? - How to think about the problems and killer business ideas? ==**5 Tips for Killer Business Ideas –**== # **#1 Network** Do aggressive networking for killer business ideas. Networking here doesn’t mean Multilevel Marketing but it means: - Networking by going to events - Meeting people on social media Don’t waste time on Facebook and Instagram instead go on []( and connect with professionals to get a mutual benefit. Send requests to the CEOs, Directors, and founders of different companies. If you will do networking with good people like CEO, Directors, etc. then you will definitely get killer business ideas as you will get some advice from them and they all will further have similar kinds of networks. So, good networking is a guarantee of success. # **#2 Weekend Internships** Let’s understand this with Paritosh Sharma’s example. He was in Silicon Valley, the United States 3 years back, where the world’s biggest companies like Google, Facebook, YouTube, Twitter, LinkedIn, Instagram, and WhatsApp were founded. At that time, Intel and the University of Berkley had a start-up accelerator program and a lot of companies have applied in it. They took only 14 companies ahead and Mr. Paritosh Sharma’s startup was one of them. Now, if Mr. Paritosh Sharma is working with some big company at the senior level, then he will give his weekends (Saturday and Sunday) to the startup free of cost without taking any charges. He will do an internship with start-ups because: - They are doing innovations. - They are creating breakthroughs. - The valuation of start-ups is increasing. You never knew that a company like Apple could be founded in a small garage or company like Facebook is founded in a Dom Broom. All senior executives in Silicon Valley spent weekends with start-ups. If you are a business owner, entrepreneur, or student, then spend your time with start-ups. As a business owner, if you spent time with start-ups on weekends, you will be able to know about: - Next innovations - New culture And you never know you may invest in the same start-up. The valuation of that start-up increases and your money also increases creating a big wealth for you. # **#3 AB Testing** Suppose you are at a stage where you don’t know whether your idea is a killer business idea or a useless idea. Using AB testing, you can find out this. AB testing means A is one used case and B is another used case. **Example:** I am going to launch a new product in the market, say “Multani Mitti”. I made a package of Multani Mitti which is: - Packed in a small bottle with basic packaging around it. The price tagged on that bottle is INR100 in the market. - I also made a very fancy packaging of Multani Mitti with a golden covering on it and tagged a price of INR400 in the market. Now, I have 2 products whose base foundation is Multani Mitti. Which product is liked by which customer can be found using AB Testing. Out of A or B, whichever product is selling more, more profitable, and earning more revenue will be taken and sell further. So, this is AB testing that will help you to know which of your idea is a killer business idea and which is not. This can be used for any product. Suppose before launching and investing your money in a mobile app, you can do AB testing. Gather 5-6 customers in a room and show them the screens. Ask them which screen is looking better, and their opinion on websites visuality. Nowadays, after writing the book, many authors do AB Testing for the title of the book. They ask people whether they should keep the title A or B. So, in AB testing, the customer will give you feedback and you will become confident about your ideas. # **#4 MVP(Minimum Viable Product)** It means making a very big product which solves customers’ burning problems with the minimum features. **Example:** On the TV remote, there are around 30-40 buttons. Have you ever used all 30-40 buttons of the TV Remote? The answer will be NO. Amazon Fire TV Stick also has a remote which has only 5 buttons on it. This is the difference between a normal product and an MVP. MVP is also more valuable to the customer as compared to the products with so many features but of no use and adding no value. Facebook says, “Fail Fast, Fail cheap.” It means suppose you have launched a minimum viable product in the market and because it is MVP; so, you haven’t invested a lot of money in it. Thus, if this product doesn’t work well, then only some of your money and time is lost because you have not invested your whole money into it. Though time and money are not wasted because you got feedback from the client that will help you in making a better product now. So, it’s better to make a product like Amazon Fire TV Stick which can be used by old people and kids rather than a remote with many buttons but of no use. # **#5 Read More** Read blogs, books, and autobiographies to get future signals. This will helps you to know: - What is going in different industries? - What are the founders saying? Decode it. []( is a website and a platform where you can decode upcoming start-ups and see industry signals. This is a platform where you get many research reports. **#6 Assess Your Killer Business Idea Using Business Model Canvas** In this, there is a lean business model canvas with eight different sections. Download this lean business module from our strategy sheet section on your mobile and take print of it. Now, fill this business canvas for all your ideas. This a guarantee that if you write all your business ideas here and implement the 5 frameworks told above, you will definitely reach one single killer business idea out of 5-10 ideas, which would surely work. Many of you must be established business owners who might be thinking that how can I implement these killer business ideas. Ask all your senior employees to write on this business model canvas about – - What are they doing? - On what ideas are they are working? When your senior management will self-assess their killer ideas, their time will not go on ten other things and will come only on “The one thing.”