how to generate business idia

1. Generating
Business idea

2.  What are your expectations
regarding this workshop?
 Why are you here?
Introduce your self
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3. OBJECTIVES
 At the end of the training, the trainees should be able to:
 Gather the necessary information to prepare a business
plan
 Use available information to prepare a business plan
 Describe the process of writing a business plan.
 Describes Procedures to write BP
 Understand Contents of BP
 Prepare their own Business plan
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4. The nine dot exercise
Tell the trainee with full instruction
what to do in this activity
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NINE DOTS

5. M6-F2-2
NINE DOTS
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6. M6-F3
QUOTE
“ Where others see problems,
entrepreneurs see opportunities.”
“ Creativity emerges from the elimination of all
unnecessary assumptions.”
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7. Creativity
 Meaning of Creativity
 Creativity is the ability to design, form, make or do
something in a new or different way or it is the ability to
come up with innovative solutions to needs/problems and to
market them.
 CREATIVITY: is the ability to create or make something
new or differently. It results in new idea or knowledge
 An entrepreneur’s creativity is often the difference between
success and failure in business.
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Barriers to creativity
 searching for the one “right” answer
 focusing on being “logical”
 blindly following the rules and routines
 constantly being practical
viewing play as frivolous
 becoming overly specialised
avoiding ambiguity

9. Continued…
fearing looking foolish
- fearing mistakes and failure
- believing that “I’m not creative”
The key to spurring the imagination is to learn to
think fluidly and flexibly
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10. M6-F6
INNOVATION
Is the introduction of a product or
service that is new or significantly
improved, considering its
characteristics or expected use.
Is the process of converting or
translating creative ideas in to practical
account/physical existence. It results in
new products or services 11/7/2023
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It may also be the implementation of
production, distribution, marketing or
organizational methods and
processes that are new or
significantly improved.

12. Business Idea
 Meaning of Business Idea
 A business idea is the response of a person or
persons, or an organization to solve an identified
problem or to meet perceived needs in the
environment (markets, community, etc.).
 A good business idea is essential for starting a
successful venture and to stay ahead of competition.
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13. CONT…
• Business idea is an idea of providing goods and services
to meet customers’ needs at a profit
 Finding a good idea is the first step in transforming the
entrepreneur’s desire and creativity into a business
opportunity.
 Good business ideas, however, do not usually just occur
to an entrepreneur.
 Business idea: can be any unsatisfied needs of the
society.
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14. Why Generate Business Ideas
There are many reasons why entrepreneurs
or would-be entrepreneurs need to generate
business ideas. Here are just a few:
 You need a great idea to start a new business
 Business ideas need to respond to market needs
 Business ideas need to respond to changing
consumer wants and needs
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15. CONT…
 Why Generate …
 Business ideas help entrepreneurs to stay ahead of
the competition.
 Business ideas are needed to exploit technology and
do things better.
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16. CONT…
 Why Generate ….
 Business ideas are needed because the life cycles of
products are limited.
 Business ideas help to ensure that businesses
operate effectively and efficiently.
 Business ideas help to solve natural resource
scarcity, pollution and depletion.
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17. Business Idea
NEW IDEAS FROM OLD/SCAMPER MODEL/
 Amplify - Make it bigger
 Minimize -make it smaller
 Eliminate parts
 Put to other use
 Rearrange parts -modify parts or ideas: color, taste
 Combine parts of ideas
 Substitute different materials, parts, or methods
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18. Business Idea
 Sources of Business Idea
 Hobbies/Personal Interests
 Personal Skills and Experience
 Mass Media (newspapers, magazines, TV, Internet)
 Business Exhibitions
 Surveys
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19. Business Idea
 Sources of ….
 Customer Complaints
 Natural scarcities and pollution
 Changes in Society
 Brainstorming
 Being Creative
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20. Business Idea
Brainstorming
 is a technique for creative problem-solving
as well as for generating ideas.
 Its objective is to come up with as many
ideas as possible.
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21. Business Idea
Brainstorming ….
 There are FOUR RULES for BRAINSTORMING:
• Don’t criticize or judge the ideas of others
• Freewheeling is encouraged-ideas that seem to be
wild or crazy are welcome.
• Quantity is desirable – the greater the number of
ideas, the better
• Combine and improve upon the ideas of others
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22. Business opportunity
WHAT IS A BUSINESS OPPORTUNITY?
A business idea is worth nothing if customers are not
prepared to pay for it
 A business opportunity may be defined simply as an attractive
investment idea or proposition that provides the possibility of a
monetary return for the person taking the risk.
 A good idea is not necessarily a good business opportunity.
 So, what turns an idea into a business opportunity?
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23. Business opportunity
CHARACTERISTICS OF A GOOD BUSINESS
OPPORTUNITY
 Real demand: respond to unsatisfied needs or
requirements of customers
 Return on investment: provide acceptable rewards for
the risk and effort required
 Be competitive: be equal or greater than the available
products or services.
 Meet objectives: meet the goals of the person who take
the risk
 Availability of resources and skills: the Epr is able to
obtain the necessary resources…..
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24. IDEAS Vs OPPORTUNITIES
IDEAS OPPORTUNITIES
....last for ever ....are perishable
….are free ….require work
….everybody has ideas ….require fit
….do not need customers ….must create customer
to survive value
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25. M6-F11
Clue: NEEDS AND UNDERUTILIZED RESOURCES
PROBLEMS AND UNMET
NEEDS
Thefts
Lack of qualified labor
Lack of leisure options
UNDERUTILIZED
RESOURCES
Cinemas
Old factories’ facilities
Unfinished buildings
Make a group consisting five members and try to identify
problems in your surrounding and turn the problem in to
Business opportunity
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26. M6-F12
OPPORTUNITY IDENTIFICATION
PROBLEMS
UNDERUTILIZED
RESOURCES
BUSINESS
OPPORTUNITIES
Thefts
manpower, industrial
facility
Locking systems
Hot weather
know how, raw
materials
Fans and air coolers
Deseases unfinished building Medical clinic
Boredom cinema Leisure club
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27. Thanks !!!
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