Date Posted: 11/15/2012 10:10:59 PM
Posted By: jullieflavia Membership Level: Gold Total Points: 2188
Business ideas are thoughts that when implemented can lead to income generalization. Entrepreneurs must first come up with ideas from different sources that should lead them to starting a well planned business. Here are some of the sources of business ideasa) Surveys.Business ideas can be generated from market surveys indicating or showing which sector is viable or possibly void of products. People can check the market to come out with appropriate conclusions on which sectors are not flooded or occupied.b) Training.Business ideas can be acquired through training individuals where they are equipped with necessary skills and knowledge from schools and such other institutions of training.c) Experience.An idea can also be generated from experience. Experience in itself comes from constant touch on a particular aspect. For instance, an individual might have an experience in accounting through his or her occasional involvement with accounting issues.d) Hobbies.Hobbies are what one is fond of doing most of his or her time. At least each and every one finds something interesting and comfortable doing every time. Well, that might be a source of a business idea.e) Talents.A business idea can also come from individual talents. You are best in what you are talented in and this might form a good base for starting a business if you spot an idea in that area. For instance, if you are talented to play football, you might spot an idea in supplying football kits to customers in the market.f) Strengths of an individual.An individual's strength can also serve as a source of idea which is tuned to an idea for carrying out business. For instance, if you have a particular strength in helping out clients through consultations, that could form a base to start a business. g) Market gaps (niche)Spotting a gap in the market can also form an idea. A market gap in this case is used to mean some important area that is not occupied. Sometimes, a particular area in the market may be empty with nobody really providing some goods or services needed by customers. This is what can be formed to an idea.h) Events.A business can also be generated through attending events in which new ideas are exchanged. For instance, an event that is scheduled in some other place can be very good opportunity to find out what is missing in that particular place and by providing such products, you satisfy customers’ needs which is one of the reasons of doing business.i) Media.An idea can also come from the media. Reading magazines, newspapers and such published materials that contain business related issues can help one generate an idea. An idea can still come from the other media sources like television stations and radios. Discussions related to business topics can be very useful in generation of an idea.j) Shows and exhibition.An idea can also be extracted from shows and exhibitions. By seeing what other people presents in the shows and exhibitions, an individual can come up with an idea of providing something like what he or she has seen others do.k) Recognizing needs.An idea can also be generated from recognition of what customers need in the market. If for instance customers are frequently demanding maize flour instead of maize itself, one can come in to provide the maize flour demanded by customers.l) Merging existing businesses.Business people can also come up together to merge their business as a new development towards achieving or getting more customers or for provision of better services to customers.m) Listening to what people say.A business idea can also be generated through listening from other people's thoughts. This is more so important when you socialize with great minds or such people who have tried out businesses or those who actually are in businesses.
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