As entrepreneurs, we all want to be successful, and to be a successful entrepreneurs we all need a good idea.. So we can work over that idea and contribute. Now question is how to find that “GREAT IDEA”, here are few very basic steps that one can use in order to generate a good idea of its own:

1. Find out your space of interest
2. Keep seeing for the idea until you get one
3. Meet people of the same space and network like crazily
4. Start sharing your idea and work on the feedback you get
5. The guys who were serious on feedback, provide them with updates and try to pre-sell your idea
6. Continue to iterate as hard and fast as possible on the feedback you’ve received during all this process

Once you have the idea, validate it with the following key points:

1. Does it fulfills the needs that you desire? Can it be big?
2. Is the idea Sticky and Sustainable and last for a while?
3. How scalable is this? How well does this business scale and how does this grow nonlinearly?

Just to add:

When you be going through this phase you will have all the conflicting and confusing points. Don’t get worried as being a good entrepreneur requires having a hundred conflicting data points in your head. And a good entrepreneur still makes a wise decision. You have to be able to sit there and distill that information into something valuable. The hard part isn’t coming up with ideas; it’s distilling all the information you have, 90% of which will be crap, and finally figuring out what is the good 10%, recognizing that the good 10% may change rapidly depending on the industry.