Sources of business ideas.

[KIP254]

Business idea is a business thought that is capable of being converted into a successful business venture. A business starts from idea which develops to become a product or a service that can make a difference in the society. Here are some sources of business ideas :-

1. Unsatisfied needs - an entrepreneur can pick up an idea from customers complaints.
2. Magazines and newspapers - Reading magazines, journals and newspapers gives an entrepreneur an opportunity to understand the market. Business ideas can be developed from the knowledge acquired.
3. Trade fairs, shows and exhibitions.
4. Hobbies - a personal hobby may be a source of business ideas for example collecting flowers may give rise to a business idea of making artificial flowers.
5. Brainstorming - ideas can be generated from sharing ideas with friends or employees.
6. Personal skills and knowledge - entrepreneurs can identify a business idea in the area one is trained or experienced in.
7. Recycling waste products like food remains to be used as pig food in a pig farm.
8. Listening to what people say.
9. Improving on existing businesses.

 

[Seyesystem]

Starting a business is a dream come true the entrepreneur's own research and development is the largest source of new ideas. It is not possible for anyone to come up with an idea and in the very first instance, convert it into a business opportunity and start a small business on that basis.
majority of good business opportunities do not come suddenly due to providing solutions to people problem in the environment.

 

[sincerem]

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