Five steps to generate a business idea

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According to the Amway Global Entrepreneurship Study, in which the Technical University of Munich also participated, 37% of Spaniards see themselves setting up their own business. To achieve this goal and not fail in the attempt, one of the most important steps is to generate a correct business idea . If you are thinking of launching into the entrepreneurial adventure, you cannot miss this post with the five points to take into account when creating a business idea .

Keys to creating a business idea
STEP 1: WHY DO YOU WANT TO START A BUSINESS?
Becoming an entrepreneur is always a risky decision. The first few days will be hard and complicated, requiring maximum involvement in the task undertaken so that your company meets the objectives you set at the beginning. Many consider that being an entrepreneur is more related to a lifestyle than to a job itself, since for the idea to come to fruition, it will be necessary for the businessman to enjoy what he is doing and truly believe in his product or service.

This means that before you embark on the great denmark number data of creating a company , you should think about what its purpose is, both in the short and long term . If you are able to answer this question in a confident manner, it is time to start with the idea.



STEP 2: MAKE A LIST WITH YOUR TASTES AND VIRTUES
Working in the field you like will increase your chances of success, as motivation and level of involvement will be higher if your tastes coincide with your business objectives . Making a list of your hobbies and interests , focusing them on the work aspect, will help you improve your outlook.

Along with this list, it is advisable to make a similar one in which you enumerate your virtues and defects as a worker. Thanks to this, you will be able to discover in which field of creation you should focus your potential.

business idea
STEP 3: BRAINSTORMING, SELECTION OF THE BUSINESS IDEA
This point responds to the main idea of ​​this scheme and to carry it out, several factors must be taken into account:

-Find unmet needs in the market. Think about everyday problems, products or services that do not currently exist, but that would be consumed if they did.

- Improve existing products . The business idea does not have to be completely new. Sometimes, a significant improvement of something already existing can become a real success. Changes in design, technological innovations , applications from other sectors, new functions, different distribution channels, cost reduction and a long list of other changes and additions can substantially modify the performance of a product or service, without ever falling into plagiarism.

-Import ideas from abroad . Despite the power of globalization, not all markets develop their ideas at the same time, mainly due to the great technological difference between the different countries. It is important to be alert to developments from outside our borders, especially those from the United States and Asia, since the probability of their products ending up in the Spanish market is high. Detecting these good ideas will be crucial for them to serve as a source of inspiration.

-Use social media to stay on top of new trends. Social media is a hotbed of data that can provide you with valuable information about different market niches and their needs.

-It responds to changes in legislation . These changes may modify behaviour and, therefore, give rise to new markets.