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CHAPTER 4: HOW TO LOOK FOR BUSINESS IDEA - Coggle Diagram
CHAPTER 4: HOW TO LOOK FOR BUSINESS IDEA
INTRODUCTION
A business idea is a concept that can be used for financial gain that is usually centered on a product or service that can be offered for money
SELECT THE BEST IDEAS
SHARE THE IDEAS WITH PEOPLE
RESEARCH YOUR IDEA
What currently being used in the market
Who the top competitors
What you need to do turn your idea into reality
TEST YOUR IDEA
Do some preliminary market research to see if there is a need or interest in your idea and to identify potential competitors. start developing a prototype if your idea is physical product
STEP TO TESTING YOUR IDEA
BUILD A PROTOTYE OR TEST SERVICE
BUILD AMINIMUM VIABLE PRODUCT
RUN IT BY A GROUP OF CRITICS
CREATE A MARKETING PLAN AND USE IT.
GENERATE SOME IDEA
SOLVE THE PROBLEM, NEED AND FRUSTRATION
MAKE AN EXISTING BETTER
REFINE YOUR IDEA
Modify your concept needed. if the idea wont work or if it fails, pick another one and try again
IDENTIFY YOUR MARKET
Determine whether people will pay for it and how much they might pay.
HOW TO IDENTIFY YOUFR MARKET
DETERMINED HOW YOUR CUSTOMER WILL LEARN ABOUT YOU
PUBLISH CONTENT TO ALL SOCIAL MEDIA
CO-MARKET WITH SIMILAR BRANDS
DETERMINE YOUR CUSTOMERS NEEDS
DETERMINED YOUR CUSTOMERS DEMOGRAPHICS