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Generating Ideas

Generating Ideas

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Generating Ideas

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  1. Generating Ideas

  2. Generating Ideas • Most business ideas come from our experiences • What is happening at work + • What you know + • What you could improve. • (HRB, Entrepreneurship, 1999)

  3. Generating Ideas • Many ideas occur spontaneously • Watching for them • Open to them • Recording them

  4. Generating Ideas • You can research opportunities • Calculate interest • Develop experience

  5. Generating Ideas • Meld needs with interests • What does the world need • What do many people need • What could many people use + • What do you like to do • What do you know how to do • What can you learn to do

  6. Generating Ideas • You should begin by: • Record your ideas in as much detail as possible • Brainstorm with trusted others • Take time to think about what you want to do • Do NOT edit your ideas or think them irrelevant before you even write them down

  7. Generating Ideas • There are many ways to: • Improve upon something that exists • Build a business in an existing market • Duplicate something that exists (but that you like to do) • Find new markets for existing products and services

  8. Generating Ideas • A business idea should be: • Something you like to do • Something that makes you money • Cash flow • Cash-out (exit strategy) • Something you can successfully do