Finding an Idea Worthy of Attention
This will be the first entry in a series of posts about building this business. Creating Eternal Tides has been a wild series of challenges that have pushed me to some different limits and (at the time of writing), we still have yet to open our doors. So, take what I suggest with an enormous grain of salt…. at least for now.
Eternal Tides, LLC certainly began when I learned about aquamation in 2021, but the dream didn’t become an idea until March of 2024. To me, an “idea” is the next step toward considering “can this work” rather than simply wanting something. The foundation of many successful businesses began with a strong idea that captured interests and solved a real problem. Identifying an idea worthy of attention requires a blend of creativity, research, and market awareness. One effective approach is to focus on areas of passion or expertise. According to Drucker (2002), leveraging one's strengths and interests can lead to more innovative solutions and sustain long-term motivation. For Eternal Tides, the interest was environmental solutions to problems people did not know they had.
Another key strategy is to look for gaps in the market—unmet needs or underserved niches that could benefit from new products or services. As Christensen, Raynor, and McDonald (2015) suggest in their theory of disruptive innovation, identifying where customers are dissatisfied or underserved by existing solutions often provides fertile ground for new ideas. Entrepreneurs should engage in active listening—whether through surveys, social media, or direct conversations with potential customers—to uncover these opportunities. In the Fargo-Moorhead area, there is only one independent cremation provider servicing a community of 240,000+ people; there is most certainly a gap in the market if there is only one show in town.
Furthermore, observing emerging trends can also guide entrepreneurs toward viable business ideas. Trends in technology, consumer behavior, and societal changes often reveal opportunities for innovation (Ries, 2011). For example, the rise of sustainability as a consumer priority has opened up new markets for eco-friendly products and services. Keeping a close eye on these trends helps to ensure that the business idea not only addresses a current need but is also positioned for future growth.
Ultimately, finding a business idea worthy of your attention requires deep introspection combined with market analysis and and research. By combining personal passion with market demand and forward-looking insights, entrepreneurs can develop ideas that are not only innovative but also have the potential for long-term success.
References
Christensen, C. M., Raynor, M. E., & McDonald, R. (2015). What is disruptive innovation? Harvard Business Review, 93(12), 44-53.
Drucker, P. F. (2002). The effective executive: The definitive guide to getting the right things done. HarperBusiness.
Ries, E. (2011). The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. Crown Business.