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Transcript

Chapter 2

Developing And Screening Business Ideas

Hannah

Chloe

Nick

Tasha

Ryan

Matt

Unsolved Problems

Gaps in the Marketplace

Identify New Business Ideas

  • Gaps occur when there are products or services that consumers want but aren't available through larger firms or aren't available at all.

Changing Environmental Trends

  • People who experience problems have discovered that the answer to their problems could result in a new business.

Three techniques:

  • Brainstorming
  • Focus groups
  • Library and Internet Search

Three Most Common Sources of New Business Ideas

First Screening

Economic Trends

  • Determine areas where you could open new businesses. Additionally, when new ideas or products aren't needed.

Social Trends

  • Having an understanding of what society and its people want and need.

Technological Advances

  • With every advance in technology, there's opportunity for new business ideas.
  • The advancements help people to perform everyday tasks in a more convenient way.
  • Allows an entrepreneur to quickly determine whether an idea represents a potentially viable business opportunity.
  • First screen also provides an entrepreneur the flexibility to consider multiple business ideas, rather than settling on a single idea from the outset.
  • Changing Environmental Trends
  • Unsolved Problems
  • Gaps In The Marketplace
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