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Crafting the perfect business 2023!
Supreethere1210
subscriber Posts: 2 Member
Every great business starts with a 'stupid' idea and a 'great' vision.
Through this blog, I am going to take you through the entire PROCESS (yes starting a great business involves a process) of starting a business and making it relevant.
- Ideation: At the heart of every successful business is a great idea. Ideation involves brainstorming and identifying opportunities for a business venture that aligns with your passions, expertise, and market demand. Ask yourself: What problem can my business solve?
Is there a gap in the MY LIFE that needs filling?Research market trends, consumer preferences, and emerging industries to fuel your ideation process. Remember, a strong and innovative idea forms the foundation for long-term success. - Uniqueness: Now you have a great idea but in a competitive marketplace, standing out from the crowd is paramount. Differentiating your business from existing players requires a unique selling proposition (USP) that sets you apart. Consider what makes your product or service distinct and how it adds value to customers' lives. Highlight your competitive advantages, such as superior quality, exceptional customer service, or a novel approach. Strive to create a memorable and meaningful brand experience that resonates with your target audience.
- Branding: Today, RIGHT BRANDING is how selective companies have managed to remain unaffected even during these times when the world is on the brink of recession and countries like the USA are facing inflation. Right Branding involves more than just a logo
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Comments
Agree with your points above. I think for any business to succeed there needs to be a demand for the product or service being offered. It is most important to first research the WHO before the WHAT. It means finding a group of people having a similar problem or pain point to whom you can give a solution.
Validation of the business idea in terms of demand and finding a niche or blindspot or gap in the offers already available is key to being successful otherwise you are competing with already established players and it is an uphill task.
It is better to be a big fish in a small pond rather than a small fish in a large lake.
agree with that you share