Business Ideas

Internal Sources of Business IdeasGetting ideas from inside the business, such as your own strengths and weaknesses Skills and hobbies Experiences, such as a god one, or bad Research and Development ( R&D ) Customer Feedback External Sources of Business IdeasGetting ideas from outside the business, such as competitors Family and Friends Stage Agencies Media Competition

Brainstorming Used to generate ideas. Group of creative people come together and asked for suggetions.  They listen to eachothers ideas, coming up with their own, or bulding on eachothers Use SWOT analysis to assess the ideas potential Development Process of a new Product Idea generation Product/Service Screening - Pick out the ideas that have the best potential for development Concept development - what will the product do? Look like? ect Feasability study - Will it be possible to make? Reasonable  cost ? Sell enough? Prototype Development - First working model of product Test Marketing - launching product on small segment of the market , look at responses. Product Launch - Full scale production

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