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Published byBethany Tate Modified over 9 years ago
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Other people see things and say ‘Why?’ …. But I dream things that never were and say ‘Why not?’ George Bernard Shaw IDEA GENERATION
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Idea Generation The first step to any venture creation is the business idea- And It is required at all stages of a venture
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Business Idea Business idea arises in response to the opportunities in the environment. The business idea will enable the entrepreneur: – To utilize his skills – To use the locally available raw materials – To capitalize on the changing economic and fiscal policies – To use any special technology – To produce a product which has a demand, but not freely available in the market – To solve current problem existing in the market.
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Newspaper Exercise More the merrier- keep them coming ! Flow of new ideas is critical to successful entrepreneurship. Idea generation is a continuous and deliberate process No idea is a silly or bad idea till it is properly evaluated Newspaper is only one of the sources of idea generation
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Why Newspaper Exercise? Change in the environment triggers new opportunities. Newspaper is one such source that reflect current trends -real world with real opportunities Newspaper is easily available and accessible Leads to creative thinking…
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Current Trends- PEST Customers pain points Past work experience Hobbies and interests Strengths and abilities Friends and family Distribution channels Travel Books and magazines Research organizations The web Sources Of New Ideas
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Analysis Of Ideas Of Entrepreneurs Truly new, novel and innovative ideas – 3 % Enhancement- cheaper, faster more user-friendly Extension- addition to features Specialization - niche creation
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So what is your great business idea?
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