A business idea is what is cooking in mind of an entreprenuer concerning a possibles business, where the business should be located, why the business should start and how the business will run.
WAYS OF GENERATING BUSINESS IDEAS
1. Personal observation- identifying gap in society ans generating a business idea to solve the pandemic.
2. Research market- through google, newspapers, radio etc.
3. Hobbies- start a business that you like, intrested or have passion in.
4. Brainstorming- means i have an idea and i am not contented hence look for further advice from people.
5. Family- i.e inherited a business idea from his father and improved on it.
6. Media- i.e newspapers one can read ones idea and develope a way of solving pandemic.
7. Travel- when one travels to lots of places, he or she may end up learning new ideas of business and hence be able to start up a business opportunity.
8. On_line research
9. Take it on streets
10. Sleep on it
11. Examine old mouse-traps-then build the better one.
12. Look at all the things that bug you.
13. Keep eyes open
SOURCES OF BUSINESS IDEA
2. Customers- they can share ideas to the enterprenuer to develop up a business
3. Existing companies
4. Training institutoins
5. Hobbies and interest
7. Distribution channels
8. Trade affairs & exhibition
9. Brain storming
10. Government i.e taxation, lincensing, security, tenders and capitation
12. Available natural resources
13. Personal skills and experiencing
QUALTIES OF A GOOD BUSINESS IDEA
5. Problem solving