A summary of things you should know about The Business Idea Factory according to Andrii Sedniev

Introduction

In this episode Andrii Sedniev shares his insights and inspiration for writing his book, The Business Idea Factory. Sedniev believes that coming up with ideas is essential for business and provides you with all the techniques and stages of creating them. This book is perfect for the entrepreneur who struggles with the creativity and innovation of coming up with business ideas.

The Reader’s Takeaway

The principle of asking yourself questions regularly, in this way you will generate a lot of ideas. If you don’t give your brain a task it won’t generate any ideas.

A Deep Dive Into The Book

In order to create great ideas you need several things, the first is raw materials. The second thing that is important for generating ideas is programming your mind. Our brain is the most powerful computer in the world, however, it doesn’t do anything unless we ask it questions. The third thing that is incredibly important to understand for generating ideas is the formula quantity equals quality. In creativity it works this way, quantity generates quality. The fourth thing is getting in the habit of writing all your ideas down, even bad ones. When you write down your ideas, you send your brain a signal. This signal makes your brain generate the ideas even better. The last thing I will leave you with is called $100 dollar an hour business idea. You take an hour and generate how you can make an extra $100. Once you have your ideas, pick a couple that look most promising and implement them. Very often theses $100 hour ideas turn into million dollar businesses.

Notable Quotes From The Book

“In creativity quantity equals quality.” – Andrii Sedniev

The Credibility/Inspiration Of The Author

I started my career as a Networking Engineer and have my MBA degree from The University of Michigan Law School of Business. I am now an entrepreneur and author of five self-development books and I reside in Tennessee.

I am convinced that coming up with ideas is absolutely essential for business. When trying to come up with business ideas about entrepreneurship, the problem I faced was this topic wasn’t very well covered. I wanted to create some source for the person who wants to become the best he or she can in the area of creating business ideas. I did extensive research and came up with a system with all the techniques and stages of creating business ideas.

Other Books Recommended By The Author

Screw It, Let’s Do It by Richard Branson

More Information About This Book and The Author

Buy The Business Idea Factory by Andrii Sedniev on Amazon today

More Information About This Episode

Download the full transcript here

Listen on iTunes, Stitcher , and SoundCloud

Related books: The Entrepreneur Mind: 100 Essential Beliefs, Characteristics, and Habits of Elite Entrepreneurs by Kevin D. Johnson | From Idea To Exit by Jeffrey Weber | The Innovator’s Method by Nathan Furr

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Wade Danielson

Wade is a 4-time serial entrepreneur and is the Founder/Host of The Entrepreneurs Library. With a long time passion for reading books, Wade created an online resource and podcast for entrepreneurs who love to read personal and business development books. His long-term goal in life is to start an entrepreneurial home schooling program for children of business-minded families.