1/14/2024 0 Comments Oncourse wayne![]() Break the macro environment into the following four arenas and try to imagine the future. Scan the macro environment in four parts: First and foremost great business ideas are born out of scanning the environment to look for sea changes in demographics and socio-cultural behavior. This post examines six key ingredients and steps that make the process of great business ideation possible. However, there are some ground rules that have held the test of time for all great business ideas. It is a mixture of creativity, timing and sheer luck. There is no way to know when you are onto the next big thing. A great business idea however, is one, which is not in the awareness set of the customer yet. Imagine the guy who invented goggles, everyone must have laughed him into the woods at the outset.Ī good business idea is a product or service, which is unavailable currently, that people want on a recurring basis and are willing to buy and costs less than the price the customer will pay. Albert Einstein once said, “If at first glance the idea does not seem absurd, then there is no hope for it.” Great business ideas lie in the realm of the absurd and the impossible. Great business ideas are usually beyond imagination. Customers can’t tell you what they want beyond something they can’t imagine. However, in my opinion, the process of great business ideas is driven by intuition. The process of good business ideas is often driven by market research.
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