Focus of the week -Business
Topic – Seven basic concept on how to create business ideas
Writer – Joy Iyere
These are the seven instruction you must follow if you want to create a good business idea.
i) Write a short list, not more than 20, of things that people use or need every day. This include food, houses, Cars, electricity, telephones and clothing
ii) Think about ways to make it easier or more convenient to use one or more of these things. Listed some ways to make them cheaper, faster or smaller. Keep all your ideas no matter how silly them seem.
iii) Look at some things on your list to see if combining them would make someone life more convenient combining cars and food gave us the fast food drive-ins. Cars and money gave us drive-through banking. Perhaps, some people would prefer to rent video and games at a drive-through video store.
iv) Make a list of business and product that did not exist 50 years ago, 25 years ago,10 years ago. Visit the trend watching website to see examples of new ideas. Note if the successful businesses made tasks or experience more convenient faster, cheaper, safer or better in some other way.
v) Look at yours own skill and experiences. Write a list of things that you can do well. Write a list of things that you would like to learn to do. Make a list of chores or tasks that you hate and avoid. One of these may lead to a great business idea or opportunity.
vi) Combine some item from your product and services list with your skill and write down your new business ideas. Discover business trends and niches by looking at the titles of popular books and websites. Read magazine articles and blogs for inspiration for business opportunity.
vii) Research your idea to find out if it might fill a market gap or provide an opportunity to meet a need that many people have. Learn how to research your potential market by taking free online course from the small administration.
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