You are in start up or thinking about how start your business , you may know each new business or small business starts with an idea .Generating new ideas for small business is very hard work and if you find a good idea it will be your key of success . But at first try out to find what is small business in fact ?
What is SMALL BUSINESS ?
Small business has some definitions in different countries , but generally speaking a small business can be a form of business with few capital and few employees. In another hand small business is a business that starts with a single manager or few people that combine all resources with their skills to achieve profitability .
Sometimes it is defined based on the capital or numbers of employees but in my opinion a small business is defined based on the numbers of products or services .Investment decision for people is very hard, to find good small business model and start business .An entrepreneur or a businessman who start own business , in fact start small business and makes investment in new venture .
Small business is based on an idea and a good idea is a powerful tool in hands for you to become an entrepreneur or a successful businessman . Thousands of ideas are in our minds but best ideas have opportunities . Ideas like :
1.New customer need
2.New product or service
3.New type of process in business
4.New sources of materials
and so many different things .
How Find Ideas For Business ?
1.Idea Generation
All ideas are not opportunities but all opportunities come from ideas , this is a good aspect that gives the way of thinking , means that don't waste your time on ideas that are not feasible . To generate ideas simply you should think different , it is not easy , but today please think " if I change the process what will happened ?"
Some opportunities are in changes , for example technological changes gave Online marketing solution to the market and some people become rich .
Some sources of ideas can be listed as below :
i. Consumers
ii. Competitors and Existing Companies
iii. Governmental or Social needs
iv. Any Changes in Technology , Society , Markets
2.Screen Business Ideas
After finding ideas it is very important to test ideas to be feasible , in another hand is it possible for you to develop your solution on the idea ? . For example you can produce new product . There are some constraints for you to develop your idea and they are :
i. Financial Feasibility
ii. Niche Market Feasibility
iii. Product / Service Feasibility
A good feasibility study helps you to find can yo do it or not and it is a profitable idea or not .
3.Selecting Idea
Selecting an idea is based on the opportunities that you will find in idea . For example you will find 3 ideas in last steps but you require recognize the opportunities in these ideas . In term of selection it is better to think about these problem :
i. Potential of growth - it is very important
ii. Competition and market condition
iii. Profitability or Rate of return of your investment in business .
Each idea has Strength points , Weak points , Opportunities and Threats (Risk , competition ,...) , try to find SWOT analysis .SWOT is very helpful .
We can see some people have made a big business in different ways , for example differences between Google and Yahoo , Google changed the aspect to the search engines and made it in very innovative way .
For example in this world economic condition and macroeconomics indicators for a country it is a good idea to invest in a foreign country . By default some underdevelopment countries like India are destination of foreign investment .
Another example , everyday you are walking in streets , did you think about people needs , about a way to give them a new service and facilitate one process for them . Think different
Also you can find HOW MAKE BUSINESS NETWORK ?
What is SMALL BUSINESS ?
Small business has some definitions in different countries , but generally speaking a small business can be a form of business with few capital and few employees. In another hand small business is a business that starts with a single manager or few people that combine all resources with their skills to achieve profitability .
Sometimes it is defined based on the capital or numbers of employees but in my opinion a small business is defined based on the numbers of products or services .Investment decision for people is very hard, to find good small business model and start business .An entrepreneur or a businessman who start own business , in fact start small business and makes investment in new venture .
Small business is based on an idea and a good idea is a powerful tool in hands for you to become an entrepreneur or a successful businessman . Thousands of ideas are in our minds but best ideas have opportunities . Ideas like :
1.New customer need
2.New product or service
3.New type of process in business
4.New sources of materials
and so many different things .
How Find Ideas For Business ?
1.Idea Generation
All ideas are not opportunities but all opportunities come from ideas , this is a good aspect that gives the way of thinking , means that don't waste your time on ideas that are not feasible . To generate ideas simply you should think different , it is not easy , but today please think " if I change the process what will happened ?"
Some opportunities are in changes , for example technological changes gave Online marketing solution to the market and some people become rich .
Some sources of ideas can be listed as below :
i. Consumers
ii. Competitors and Existing Companies
iii. Governmental or Social needs
iv. Any Changes in Technology , Society , Markets
2.Screen Business Ideas
After finding ideas it is very important to test ideas to be feasible , in another hand is it possible for you to develop your solution on the idea ? . For example you can produce new product . There are some constraints for you to develop your idea and they are :
i. Financial Feasibility
ii. Niche Market Feasibility
iii. Product / Service Feasibility
A good feasibility study helps you to find can yo do it or not and it is a profitable idea or not .
3.Selecting Idea
Selecting an idea is based on the opportunities that you will find in idea . For example you will find 3 ideas in last steps but you require recognize the opportunities in these ideas . In term of selection it is better to think about these problem :
i. Potential of growth - it is very important
ii. Competition and market condition
iii. Profitability or Rate of return of your investment in business .
Each idea has Strength points , Weak points , Opportunities and Threats (Risk , competition ,...) , try to find SWOT analysis .SWOT is very helpful .
We can see some people have made a big business in different ways , for example differences between Google and Yahoo , Google changed the aspect to the search engines and made it in very innovative way .
For example in this world economic condition and macroeconomics indicators for a country it is a good idea to invest in a foreign country . By default some underdevelopment countries like India are destination of foreign investment .
Another example , everyday you are walking in streets , did you think about people needs , about a way to give them a new service and facilitate one process for them . Think different
Also you can find HOW MAKE BUSINESS NETWORK ?
Nice article. The sky is the limit as to how far you can go with.
ReplyDelete