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A business idea is a concept envisioned by individuals or teams that can be monetized through the delivery of products or services. Serving as the foundation for entrepreneurial ventures, a robust business idea is essential for the development and success of new enterprises. It encapsulates the initial vision that guides market research, product development, and business strategy, ultimately contributing to economic growth and innovation.
Characteristics of a Promising Business Idea
Innovative: They introduce new or improved products, services, or processes. For instance, Dropbox revolutionized file storage by offering cloud-based syncing, making data accessible from anywhere.
Unique:They offer something that is not readily available in the market. Airbnb created a new way for people to travel, allowing homeowners to rent out their spaces to guests.
Problem solving: They address specific problems or fulfill unmet needs. The biotech firm Curemark developed a novel treatment for autism based on enzyme deficiencies, addressing a significant gap in healthcare.
Profitable: They have a clear path to financial sustainability. Google's search engine, through its ad revenue model, transformed information access and became one of the most profitable ideas in the internet age.
Understandable: They can be easily grasped and communicated. The concept behind Uber, using an app to hail a ride, is simple yet transformed urban mobility.
A business idea is often linked to its creator who needs to identify the business's value proposition in order to launch to market and establish competitive advantage.
A businessidea is a concept envisioned by individuals or teams that can be monetized through the delivery of products or services. Serving as the foundation...
In common usage and in philosophy, ideas are the results of thought. Also in philosophy, ideas can also be mental representational images of some object...
context of validating business hypotheses. It is utilized so that prospective entrepreneurs would know whether a given businessidea would actually be viable...
sources to finance the initial operations and development of their businessidea. Seed funding is often used to validate the concept, build a prototype...
Kurup, Rajesh (20 March 2017). "Idea Cellular board approves merger with Vodafone India; shares tank 9%". The Hindu Business Line. Retrieved 20 March 2017...
The Megali Idea (Greek: Μεγάλη Ιδέα, romanized: Megáli Idéa, lit. 'Great Idea') is a nationalist and irredentist concept that expresses the goal of reviving...
Idea Cellular (commonly referred to as Idea (stylised as !dea) was an Indian mobile network operator based at Mumbai, Maharashtra. Idea was a pan-India...
initial businessidea from a summer internship in 1994. A Yellow Pages salesman came into his employer's office to pitch buying an online business listing...
or PoC), also known as proof of principle, is a realization of a certain idea, method or principle in order to demonstrate its feasibility, or viability...
skin care clinics abound. He has booming businessideas and is eager to start his own plastic surgery business. He encounters Ji-woo (Jung Kyung-ho), the...
rates and uncertain outcomes. Having a business plan in place outlines what to do and how to plan and achieve an idea in the future. Typically, these plans...
trademarks being his upright hairstyle, vintage wardrobe, impractical businessideas and eccentric personality, whose combination led Elaine to characterize...
SUSS students partners with foreign students to work together on their businessidea and prototype. One of the teams, Good for Food was featured by Channel...
your great idea into a great business plan Launch your Business: Turn your business plan into a reality (register, file, and start doing business) Manage...
Bigger and Better Negro Businessidea was made by way of an exhibit devoted to this topic. The Bigger and Better Negro Businessidea was first tested in 1924...
2017). "Remember American Apparel's Dov Charney? He's Back With A New BusinessIdea". Benzinga. Retrieved 30 January 2021. Abarbanel, Aliza. "Dov Charney...
which combines the words for "grocery point" and "centre of life". The businessidea is to take over premises left empty by the flight of the main supermarket...
academic and business consultant who developed the theory of "disruptive innovation", which has been called the most influential businessidea of the early...
October 2014. Brenda Horton (24 September 2010). "5 Reasons Why Your BusinessIdea Needs An Action Plan". hware. Retrieved 27 October 2014. Leigh Ann Morgan...
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