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How to Come Up With a Business Idea
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[QUOTE="Mika, post: 287092, member: 29399"] Getting a business idea is not very difficult. What actually is difficult is determining whether the idea you have for a business is profitable or not. In order for your idea to become successful, a lot of factors are involved. first and foremost is the commercial value of your idea. The commercial value of the idea means whether the idea can make you money or not. You will get the answer to this question if you do a market analysis and competitor analysis. The market analysis will tell you whether there is a demand for the product or not, and the competitor analysis will tell you whether someone is selling the product or not. In case someone is already selling, you also need to see if there is still room for you to sell those products. You also need to see if you have the resources to start a business. Resources mean the money you have for investment, the skills and knowledge you have to work on the idea, team you have to assist you in your business. Sometimes you also need a bit of luck in order to become successful in your business. [/QUOTE]
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