Business ideas can spring from
anywhere -- even out of the blue
Bankrate.com

Looking for good ideas for your business? Hold a meeting.

That's how 21 percent of small-business owners say they come up with creative ideas, according to a recent American Express Small Business Services survey of 300 business owners. Other leading ways to come up with ideas include informal get-togethers outside the office, networking with peers and observing competitors.

For 9 percent of the owners, the process is more mysterious. They said their best ideas "pop into my head."

Other interesting statistics from the survey: Almost half of the entrepreneurs surveyed (46 percent) say their employees come up with the best ideas, while 37 percent of owners say they come up with the best ideas themselves.

Business owners view creative ideas as vital, according to the survey. Almost all of them (96 percent) consider creative thinking important, very important or crucial to their business' success. More than half (51 percent) believe that the creative process can be nurtured.

Despite that, few build it into their schedules: 43 percent of owners set aside one hour or less a week on creative thinking.

Thirty-five percent of the owners surveyed say they implement between one-fourth and one-half of the ideas that they develop. What holds business owners back from implementing a great idea? Budget constraints. They squash one in three ideas.

Formal brainstorming sessions were the most popular way to get the creative juices flowing, but only 2 percent of business owners surveyed used the venerable suggestion box to find ideas.

How does your business stack up?

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-- Posted: Aug. 30, 2000