A new idea is merely the combination of two or more old ideas. The creation of a new idea is the critical first step in establishing any business.

People who dream of setting up their own business but don't succeed, generally fall into one of three categories:

(1) too few ideas

(2) too many ideas or

(3) waiting for the 'perfect idea'.

Any of these three states of mind may hinder the budding entrepreneur.

'Would be entrepreneurs' with too few ideas.

These individuals typically say "if only I had 'an idea' for a business."

Just remember that if you say you don't have 'an idea' it really means you have 'no-idea'! If this applies to you, you need to get cracking on that 'first idea' fast! As soon as you are able to dream something up, you'll have the essential ingredient that all successful businesses are built upon.

'Would be entrepreneurs' with too many ideas.

Can you ever have 'too many ideas' I hear you say? Well if your creative process leaves you feeling overwhelmed for choice then it's definitely a possibility! Many highly creative people experience inertia in business purely because they have so many ideas. They don't know where to start or which idea to implement first!

If you fall into this category, just pick one of your ideas (it doesn't need to be your best one!) and begin to mentally develop it further. Consider the first key steps you need to take to push your business idea forward. Remember that you don't have to have a 100 page business plan or a fully formed idea before you can start taking action! All you need is a little focus.

'Would be entrepreneurs' waiting for the perfect idea.

This is the equivalent of expecting to know how to swim once you've found the perfect swimming costume.

If you fall into this category, even if you do manage to find the 'perfect idea', ask yourself whether or not you are going to have the right skill base to get it off the ground. Many successful entrepreneurs have failed many times before their 'perfect idea' came along. It is through being prepared to fall down and stand up again that you develop the tenacity required to succeed in business.

Stay Ahead of the Game.

Whatever your circumstances, whether you are in business already or looking to start a business, creating ideas and being innovative will help keep you on top of your game. The way we are doing business globally is changing at such a rapid rate that if you don't consistently innovate, you will soon be out of business.

Cultivate your Innovation skills.

All the entrepreneurs that I have met have been 'possibility thinkers'. By this I mean they keep their minds open to new opportunities and new ways of thinking. The best way for you to cultivate this ability within yourself is to spend time around other creative thinkers. Challenge each other to innovate.

A Simple Idea Creating Exercise.

Two nights ago I had a brainstorming session with a couple of entrepreneurial friends over a meal. We did a little 5 minute exercise where each wrote down as many ideas as they could on how to create a million pounds within a year. The quality of the initial ideas was absolutely irrelevant. What was really valuable was what came afterwards, when each person read out their individual lists and we discussed how these particular ideas could work.

We had a lot of fun, a lot of laughs and generated a couple of really great business ideas (as well as plenty of ordinary ones!), purely by focusing our brains to answer a simple question.

So how many entrepreneurs does it take to change a light bulb?

Well I'm not entirely sure on the answer to that one! But I do know how many ideas it takes to start a business?

Just one.

Damien Senn is a Life and Business Coach as well as a fully qualified Chartered Accountant. He helps professionals, artists and entrepreneurs create compelling futures.

He is the author of the 'Senn-Sational Success Journal' and has developed his own coaching model called the 'Senn-Sational Success System'.

For your free life coaching tool '101 things to do before you die', please click the following link: http://www.senn-sational.com/freeresources.htm