The business ideas are the product or service that I want to offer to the market. The means to attract customers and thus obtain economic benefit. It constitutes the business opportunity and what, when it comes to bringing it to reality, the creation of the SME, makes us successful or not. Delivery or take away sites or even a typical hairdresser are good business ideas if you study the needs, the target and the location.
Definition of business idea
When talking about the meaning of a business idea, we refer to any product or service that is supported by a value proposition for a market niche and that can generate benefits for the entrepreneur.
How to write a business idea
How to raise a business idea of a project? It is not only enough to have a good idea, it is necessary to evaluate it and check its viability. Therefore, the first stop on the path of the entrepreneur is to specify the business idea and describe it as precisely as possible. To do this, when putting it in writing you must make the following points clear.
Description of the product or service that you are going to offer to the market
The need that your product or service covers. If your business idea covers a new need, you will have very little competition.
Potential clientele: Who is it for? We must specify the essential characteristics that define our target customers.
Competition: It is necessary to carry out an exhaustive analysis of the competition of the products or services they have, what their characteristics are and what methods or strategies are used by those companies with which you are going to compete in the market.
Added value: It is the part in which it is reflected that your product will differentiate, what will make it become the best option for buyers.
Infographics how to propose a business idea for a project. The sources of business ideas are very diverse and varied, but they all pursue a common goal: to find the product or service that will make customers want to buy it. But also do it in the most profitable way for the company. That is, apply methodologies that help us reduce costs to the maximum. This is one of the bases of the Lean Startup philosophy that has revolutionized the business world.
When the business idea becomes a business plan
Once you have finalized your business idea, the next step is to write one of the most important documents on the path of any entrepreneur and that increases the chances of success and reduces risk. The Business Plan is the main planning tool when starting a business adventure, it helps increase the chances of creating a profitable business and even for already consolidated companies it becomes an instrument for growth and diversification of their main activity.
To make a business plan, a series of steps must be followed, but it is also necessary to follow a series of recommendations more aimed at the quality of the information and some writing criteria. However, there is no recipe for success and sometimes, despite having carried out proper planning, it is easy to make common mistakes or have doubts. The experts know this and for this reason, there are numerous lists grouping, for example, the fatal errors in the creation of new companies.
Intefi marketing course and microenterprise business plan
Finally, it is important to bear in mind that in the long run it will be necessary to establish the mission, vision and values of the SME as part of the corporate image strategy and increase the visibility and credibility of the SME and differentiate it from the competition.
Examples of business ideas
You can discover the best examples of business ideas by reading the following articles that make up our special, if you want to set up a company but you do not decide on the sector, here are multiple ideas to inspire you, pay special attention:
profitable business with little investment
Innovative business ideas
creative business ideas
online business ideas
original business ideas
business from home
Traditional Trade Ideas
small business ideas
Business ideas for young people
successful business ideas
Business in times of crisis
Business ideas to set up in a town
Proximity trade ideas
Business ideas with delivery service
Ideas of services carried out in the client’s home
Business ideas with take away service
Development of a business idea
If you wonder how to develop a profitable business idea, you should know that you must take into account the following issues:
Tips for presenting a business idea in writing
How do I know if my business idea is good?
How to protect a business idea?
I want to be an entrepreneur but I have no business ideas
Copy a business idea
If after having an idea, we are not clear about its chances of success, we must study the viability of the business project we have in mind. For this, we must carry out a viability plan that provides us with clarity about the opportunities that the company has to give us benefits and endure over time. To make a feasibility plan it is not necessary to start from scratch, you can help yourself with useful and reliable tools such as our Excel template to make a viability plan. Get all the information about the feasibility plan of a new business and how to do it to know if our idea is profitable or not.