Sources of Business Ideas - 1251 Words

Home About tutor2u Contact Us Buy tutor2u Resources tutor2u tutor2u Economics Business Politics Sociology IB Diploma Law RE Management History Geography English Teaching Learning Powered by Leeds Metropolitan University GCSE Business Studies GCSE Revision Note Home | Business Studies Revision Quizzes | Business Studies Blog Starting a business - sources of business ideas Author: Jim Riley Last updated: Sunday 23 September, 2012 Starting a Business - Sources of business ideas Where does an entrepreneur come up with the idea for his/her business? In practice there are many ways in which the business opportunity and idea is first spotted. As we shall see, sometimes luck plays a big part; at other times there is a role for†¦show more content†¦Tyrrell’s Crisps Will Chase Will needed to find an alternative use for the output from his loss-making potato farm. He added value to the potatoes by turning them into premium-priced crisps. Superjam Fraser Doherty Fraser turned his grandmother’s recipe for sugar-free jams into a best-selling grocery brand. Beautiful Vending Neil Mackay Richard Starrett Neil Richard spotted the potential for grooming machines whilst working in entertainments industry. Jo Jingles Gill Thomas Gill made a lifestyle choice to move out of the corporate world and set up her own business. She combined her personal interest in teaching music to children with an idea for a franchise format. Other Business Study Resources You Might Like on tutor2u Revision quizzes for business students Starting a Business Sources of Finance for a Startup Franchising Cash Flow Forecasting for a Startup Creating Protecting Business Ideas Startups and Understanding the Market Market Research for a Startup Locating the Startup Business Choosing a Legal Structure for a Startup Employing People in a Startup Generating and Protecting a Business Idea Using Breakeven in Decision-Making Finance Revenues Breakeven Basics Costs, Revenues and Profits Business Costs Using Budgets Using Breakeven in Decision-Making Investment Appraisal Basics Financial Strategies Measuring and Improving Profit Improving Cash Flow Working Capital Balance Sheet Income Statement FinancialShow MoreRelatedSources Of New Business Ideas944 Words   |  4 PagesSources of New Business Ideas According to Hisrich, sources for new business ideas come from five different thing; Customers, existing products and services, distribution channels, the federal government, and research and development (Hisrich, 2013). Hisrich lays out these five different channels but there are many other things that can produce a business idea, such as something as simple as an entrepreneur having an issue in his/her life and creates something to make that issue disappear. â€Å"By farRead MoreBeing an Entrepeneur1043 Words   |  4 Pagesabout the idea of creating a multinational retail corporation here in America called Wal-Mart? Sam Walton - founder of Wal-Mart was behind that idea. Sam Walton is an example of great entrepreneur who wanted to make his business successful. An entrepreneur needs a variety of skills but does not need to have a formal education. Being an entrepreneur is challenging even if an individual is well educated on the field or has no education at all. There is alwa ys the risk conducting business becauseRead MoreChameleon Shoes Sources Of Capital1278 Words   |  6 PagesChameleon Shoes Sources of Capital Every business needs some form of capital investment hence the need for entrepreneurs to identify reliable sources of financing. The chameleon shoes venture, being a new business opportunity will require reliable sources of capital. In fact, the chameleon shoes business will require finances to purchase assets and for its working capital operations. As such, this paper seeks to explore various sources of capital with particular interest on venture capital asRead MoreCitation and Business Report Essay661 Words   |  3 PagesSUBDOMAIN 318.2 - COMMUNICATION Competency 318.2.2: Business Research and Presentation - The graduate conducts business research and develops business-related presentations appropriate to specific tasks. Competency 318.2.3: Organizational Communication - The graduate can determine appropriate uses for specified types of organizational communication. Objectives: 318.2.2-01: Describe what constitutes a valid information source. 318.2.2-02: Identify appropriate use of reference material as aRead MoreRaising Finance1286 Words   |  6 Pagesexternal sources.  In addition, managers who are looking to buy-in to a business (management buy-in or MBI) or buy-out (management buy-out or MBO) a business from its owners, may not have the resources to acquire the company. They will need to raise finance to achieve their objectives. There are a number of potential sources of finance to meet the needs of a growing business or to finance an MBI or MBO: - Existing shareholders and directors funds - Family and friends - Business angels -Read MoreEntrepreneurship Assignment1021 Words   |  5 Pagescombined’ The Female Economy, Harvard Business Review. 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Rather than having a business based in a â€Å"brick and mortar† physical structure, the majority of companies today rely on modern technologies, especially the Internet, either partially or fully, to bring their ideas and productsRead MoreCompany Details : Shop For Latest And Trendy Clothes Essay806 Words   |  4 Pagesprofessional fashion designer, we are looking ahead of increasing our business with overseas country, we will put efforts to have business with England, Canada, new Zealand. Do your loved ones always urge you to begin a business to offer your high quality adornments or garments? You ve obviously got ability so now it s a great opportunity to get ready for your business. A marketable strategy w ill help you detail the structure of your business, who your optimal clients are and how you plan to profit. ToRead MoreThe European Union ( Eu )1684 Words   |  7 Pagesthroughout the EU. The fundamental idea of the EU is to have a single market region where there are few (if any) barriers to the movement of goods and services throughout respective member countries. With the reduction of barriers to doing business, having a single market should help substantially grow business throughout the European economy by increasing competition and trade, improving efficiency, and helping cut prices of both business inputs and finished products (source 1). However, since the worldRead MoreThe Importance Of A Study Of Todays Business Market1238 Words   |  5 PagesIn this essay is will be detailing the importance of a study of today s business market. A market survey is key both before and after the release of a product or a business idea to strengthen it. You have an idea of business tha t seem irresistible. Or you simply think to launch a new product, you ve found a super location for your new business and want it, yes or Yes. Any of these actions requires money and effort. For this reason it is necessary that we have all the data that ensures the viability