1. Other people see things and say ‘Why?’ …. But I dream things that never were and say ‘Why not?’ George Bernard Shaw IDEA GENERATION

2. Idea Generation The first step to any venture creation is the business idea- And It is required at all stages of a venture

3. 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.

4. 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

5. 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…

6.  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

7. 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

8. So what is your great business idea?