There are many ways to generate unique business ideas. According to the survey and research, there are four main aspects to the emergence of entrepreneurial and unique business ideas:
- Redesign and improve existing products and services.
- Follow new trends, such as e-commerce and the Internet.
- Discover entrepreneurial opportunities through systematic research.
- By chance.
By following the above steps, entrepreneurs generally generate unique business ideas. Apart from that here we are giving you 8 methods & Principles, that will help you to observe the unique business ideas, and also will get clear that most of the successful company’s ideas, based on these given methods below. The only things you will notice below, redesign with the value proposition, and observation.
|S. No.||Observing Principles||Based Company|
|1||Work that takes too much time to complete||IRCTC | OLX | Uber | Magicbricks|
|2||Highly cost, which can be reduced by a cost-effective model||Oyo | Thyrocare | Xiaomi|
|3||Require too much effort to ensure a good result||Lenskart | Clear Dekho|
|4||Involve too much confusion, uncertainty, or complexity||Policy Bazar | Trivago|
|5||Finding or providing special skilled services||Urban Company | Freelancer|
|6||Vendor identification||Just Dial | Indiamart | Sulekha|
|7||Specialized resources or equipments||JCB | Electric Car|
|8||Operational convenience||Onion Chopping | Female Pee Device|
If you have unique business ideas, you can read this article to know, what you should do next – Click here
Unique Business Ideas Vs. Existing Business Ideas –
Generally speaking, it is easier to improve the existing business model than to create a new business model or work on unique business ideas. Therefore, many entrepreneurs will find many defects that can be improved immediately from the experience of past positions, including unmet customer needs, Defects in product quality, waste in operating procedures, etc.
In fact, the motivation of most resigning entrepreneurs is to believe that they can do better than the original company before they have the confidence to resign and start a business.
When a new industry emerges, it will relatively provide many entrepreneurial opportunities and cause an entrepreneurial boom. However, behind the new trend of entrepreneurship, there are great risks, because how long can this emerging industry last? How to continuously discover the needs of potential customers? All are very uncertain.
For example, when the personal computer industry emerged, it created a large number of entrepreneurial opportunities for upstream and downstream related products and services, but not all entrepreneurs were able to succeed.
Entrepreneurs who follow the Internet trend are also suffering from the bitter consequences of the bubble, but this emerging industry does have prospects. If entrepreneurs can grasp the opportunity of industrial growth and invest in time, they should still be able to succeed in the end.
Learn how to avoid Business failure while working on a new business idea.
Some people’s ideas for entrepreneurship are attributed to chance, the so-called unintentional. However, experts who study creativity believe that creativity is only the result of countless knowledge accumulation and many attempts by a person. Without the usual hard work, chances would not be so coincidental. The so-called chance or sixth sense intuition is mainly due to the keen observation skills that entrepreneurs usually cultivate, so they can foresee and form creative ideas.
If the entrepreneurial idea only relies on the improvement and design of existing products, following trends, and coincidences, then its source is relatively limited. Therefore, we are now exploring ideas for entrepreneurship through systematic research and analysis. This is carried out by scientific methods. Systematic analysis and the resulting entrepreneurial ideas are the main sources of social entrepreneurship in the era of the knowledge economy.
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