Sources of Business Ideas How to Analyze them?

If you are looking for sources of business ideas and you do not know how to analyze them to make your ideas concrete, you have entered the right place, in this article we will explain everything about sources of business ideas and how to analyze them.

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The key bases to analyze business ideas.

How to analyze sources of business ideas

If you decided to create a company, you must take into account several factors, such as: Medium and long-term planning, development activity, risk assessment, financial capacity and the viability of the business. In this sense, it cannot be considered that there are two or more companies that are the same, there will always be minimal details that make these companies something different.

In general, we have two types of options for groups of business ideas, the production one, which focuses on the creation of goods and services; and intermediation, which is more related to the approach of supply and demand. Therefore, it is important to analyze the different sources of business ideas. Where we can find those that are related to supply and demand and those that are known as benchmarking or comparative evaluation.

Sources of business ideas in demand

When it comes to the sources of business ideas in the field of demands, we focus on finding the needs that are unsatisfied and that can be satisfied with new goods or services, where three areas must be analyzed:

Business needs that minimize costs

Companies are constantly in search of maximum efficiency, that is, production capacity at the lowest possible cost, which can be a source of business ideas from the demand point of view. In this way, a machine can be designed that is suitable for use in the production process of the company and thus achieve less electrical energy consumption.

Human needs and their evolution

There is the famous Maslow pyramid that establishes a hierarchy in terms of human needs, so that if the human being satisfies his basic human needs, he will begin to develop higher needs. With this, we allow certain goods and services to be created to cover the needs associated with the level of the pyramid. For example, the need for people's status, which leads them to consume goods and services that identify them, such as high-end cars.

Needs of the public administration

When we talk about the public sector, it also demands goods and services that are focused on its objectives, which can cause a great source of business ideas. What may be the case of public demand for some urban furniture that is strong against vandalism and, well, public lighting that has low consumption.

Sources of ideas related to the offer

If we focus on the field of ideas from the point of view of supply, it is about incorporating goods or services into the market that are in search of innovation that investigates a new demand for them. In this case, we can differentiate between two types of sources of ideas according to the level of innovation that is sought to be incorporated:

Transformation of an existing good or service

Depending on the good or service to which an improvement is added, we can notice a transformation, what is called, incremental innovation, the best example, is of a company that has been producing a specific type of soft drink and brings it to market. soft drink with bases without sugar content.

Introduction of a new good or service

This tries to implement in the market a good or service that was not previously known, what we call disruptive or radical innovation, where the products that are launched are completely different and new from those that were already known. For example, the radical appearance of a computer on the market at the time, which meant a revolution in the technological world, thus changing the ways of working.

Benchmarking or comparative evaluation

Finally, we have the comparative evaluation, where ideas can be obtained by analyzing the goods and services of different companies that stand out in the market, thus trying to adapt their best practices to our company, as long as they work within the legal limits of the law. of industrial property.

If you want to know more about leadership, I invite you to see the content through our website where you can find a lot of information of this type such as General and specific objectives of a company and an informative video to learn more about this topic.


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