Business Ideas: New Ideas Vs. Old Ideas

[Jasmine]

If you want to start a business, you have two options; you can either work on old ideas or find new ideas and build a business from scratch. Old ideas means business niches that have been tested and tried by multitudes. New business ideas means ideas that have never been tested or only handful of people have tried them.

It is good to start with the most successful niches if you want to try your luck on a proven market. These niches are working out well for many people, for a long time, and bringing profit for the business owners.

New business ideas might work out as well. There is nothing wrong in it if you have a sparkling idea and you want to profit from it. However, you will have to work harder.

 

[Good luck]

Both ideas are very good but in global system I think new ideas are appreciated because it will make you to have idea and knowledge of what is going on in your environment and to also know what new things or products people or your customer are craving for at that point in time.Technology has really helped us with new ideas.

 

[Mika]

When you are trying for the first time, it is good to play safe by working on already proven niches. However, there is also a drawback to working on tested ideas. It will be a saturated idea, thus, there will be a lot of stiff competition. When competition is high, success is far away

 

[Jasmine]

Whether you are trying to work on new business idea or working on an old idea, becoming successful depends on how you are doing it. A lot of people fail even when they work on ideas that are tested multiple times, while a lot of people become successful by starting with new ideas.

 

[Mika]

Actually, becoming successful depends on what you are actually doing and how you are doing it. Let us take the example of mobile phones. Nokia was the number one mobile phone manufacturer. Sadly, it lost its position when iPhone came into the market and Samsung also started manufacturing the smartphone. After the success of Samsung and iPhone, a lot of companies started manufacturing smartphones and they still were able to build the brand (even though they were selling the same product). The new brands were successful because they targeted different markets and used aggressive marketing methods to attract new customers.

 

[Jasmine]

Agreed. You have given interesting analysis of mobile handset market. You can start business with old idea, but you have to market it well. A popular term used in the business world for this kind of business is old wine in new bottle, where old wine represent old business idea and new bottle represents, marketing and promotion.

 

[Mataracy]

I think if it somebody that do not like to risk any thing and just want to be making profit as they like can simply abide by the old method.
But on a new idea one can be sure enough that he or she can risk on the business can take up new idea by starting the business from the scratch but taken his or her to to take research on the environment , and on other competitors before setting up the business.
Though taking up new idea require a lot of risk but some one can still make good profit from it because it may be business that no one has not started before. So I prefer taking new idea.

 

[Mika]

You are building a business on old idea does not mean you are not taking any risk and you have high chances of becoming sucessful. Even when you are starting a business on the idea that a lot of people have tried and have become successful, you may not be successful. Becoming success demands different strategy, a perfect marketing plant and good product development.