Activator230822
Verified member
A business idea is about all thoughts on possible business on entrepreneur can start or improve.
So there are many sources of business ideas and some of the common ones are as follows below;
Newspaper/journals
In the newspapers especially on the business and advertising section, normally have a lot of information about commercial opportunities as well as personal services. Most people tend to derive business Ideas from here.
Shows and exhibitions
Visiting shows and exhibitions organised by manufacturers and distributors and asking questions from the salesperson.
Entrepreneurs can get business ideas from products displayed in such shows.
Hobbies
They are activities pursued for pleasure but they can also serve as a source of business ideas like photography
Vocational training and experience
A business idea may develop from one's own area of training or experience for example a teacher may use his/her training to start a private school.
Surveys and market research
This involves conducting an investigation to gather information from consumers on what products they require.
Listening to what people say
By listening keenly to what people say, one can identify unsatisfied needs for example complaints about goods and services in the market, absence of some services and products that cannot be gotten with ease in the locality.
These complaints may form a basis of a business idea for an entrepreneur.
So there are many sources of business ideas and some of the common ones are as follows below;
Newspaper/journals
In the newspapers especially on the business and advertising section, normally have a lot of information about commercial opportunities as well as personal services. Most people tend to derive business Ideas from here.
Shows and exhibitions
Visiting shows and exhibitions organised by manufacturers and distributors and asking questions from the salesperson.
Entrepreneurs can get business ideas from products displayed in such shows.
Hobbies
They are activities pursued for pleasure but they can also serve as a source of business ideas like photography
Vocational training and experience
A business idea may develop from one's own area of training or experience for example a teacher may use his/her training to start a private school.
Surveys and market research
This involves conducting an investigation to gather information from consumers on what products they require.
Listening to what people say
By listening keenly to what people say, one can identify unsatisfied needs for example complaints about goods and services in the market, absence of some services and products that cannot be gotten with ease in the locality.
These complaints may form a basis of a business idea for an entrepreneur.
