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Business Idea Generation Methods

This document discusses scouting for business ideas and outlines sources and methods for generating ideas. It defines a business idea as originating from an identified market need or want. Sources of ideas include discussions with others, books, trade shows, research institutes, and brainstorming. Methods for generating ideas involve brainstorming, finding new ways to do existing things, turning hobbies into businesses, utilizing waste materials, and improving current products. The document was created by members Jyoti Singh, Jyotsana, and Kalpana Kumari.

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jyo23
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210 views6 pages

Business Idea Generation Methods

This document discusses scouting for business ideas and outlines sources and methods for generating ideas. It defines a business idea as originating from an identified market need or want. Sources of ideas include discussions with others, books, trade shows, research institutes, and brainstorming. Methods for generating ideas involve brainstorming, finding new ways to do existing things, turning hobbies into businesses, utilizing waste materials, and improving current products. The document was created by members Jyoti Singh, Jyotsana, and Kalpana Kumari.

Uploaded by

jyo23
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

SCOUTING FOR BUSINESS IDEA :

SOURCES AND METHODS OF GENERATING IDEAS

Members :

Jyoti singh
Jyotsana
Kalpana kumari
.

What is business idea?


 It arises from an opportunity in the market. It originates
from any need or wants for any product or services that
an entrepreneur can identify .
 Starting point of an innovation is the generation of
business idea.
SELECTION OF BUSINESS IDEA

 It enable entrepreneur to utilize the skills.


 Enable the use of locally available raw materials for
product or services.
 Help to produce the product having demand, but not
easily available in market.
 Enable to solve the current problem in the market..
SOURCES OF BUSINESS IDEAS

 Discussion with other people


 Looking through books

 Visiting shops & attending trade shows

 Information from Research institute

 brainstorming
METHODS OF BUSINESS IDEAS

 Brainstorming
 New ways of doing old things

 Converting hobby into business

 Utilizing waste material

 Improving an existing product


THANKYOU

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