How I can identify business ideas? | Business Tips and Tricks

How I can identify business ideas? | Business Tips and Tricks |
How I can identify business ideas? | Business Tips and Tricks |

Initiative or project of setting up a business is generated from an idea that arises from the observation of economic reality in which we operate. It detect potential business opportunities that leads to the introduction on the market of certain products or services demanded by society or lack of them, or if you have not adequately meet their needs.
The different sources of ideas are classified into external and internal sources.

Some external sources are:

  • Customers and consumers, who are in direct contact with multiple products and results of its use, which puts them in a position to provide suggestions as to possible modifications, improvements, new uses, etc., derived from their own experience.
  • Suppliers of both raw materials and components, packaging, etc., given the size reaching in some cases, can have powerful R & D departments, generating business opportunities that do not operate on the basis of strategic coherence, but can be used by new companies with innovative capacity.
  • Distributors, who, being in direct contact with customers can better perceive their complaints and suggestions, which is particularly relevant in the face of making improvements and adaptations of existing products, and the detection of new needs.
  • Foreign market, providing information on products or technical innovations from other countries and transportable to the domestic market as well as new possibilities for applications, forms, models, etc.product already known in the country.
  • Competition , because both from a technical perspective (developing its own new products), and economic (through its forms of action in the markets), competitors continually provide information that can be a source of ideas for new products.
  • Inventions and patents , the result of both the research effort of companies or institutions and the private sector of some people. While they may not be useful by themselves, sometimes they assume the starting point for the development of new products.
  • Institutions and research organizations such as universities and other centers, both public and private, that may not be able to.







Leave a Reply