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Developing a Unique Business Idea

   

Added on  2019-11-08

4 Pages947 Words140 Views
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Running Head: BUSINESS IDEADeveloping Business ideaName of StudentName of UniversityName of TutorCourse Name and CodeDate
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2Developing Business IdeaStarting a business involves coming up with an idea that is to be implemented. It is usually a complicated process to some people especially if it is a new business concept. It is obvious that any business process must involve financial implications for better success (Jain & Jain, 2012). It is important to note that a business owner must prepare both financially and psychologically. I am thinking about opening a bookshop and a library that will host a number of activities. This business is one that has not been invaded by so many people. I believe that this kind of business can tremendously perform well despite the fact that there are some small scale retailers. The business itself requires a number of skilled personnel to make sure its operations run smoothly and effectively. Developing any business idea does notrequire skills or expertise for that matter. It is a simple thing to do so long as the idea is an executable and viable one (Hopkins, 2013). There are many sources where one can source forthe best ideas that would help to come up with an appropriate thought about a business. The most common are sourced is consultation; an individual may wish to consult friends on the best business he or she may venture into depending on the available financial capability. This source of developing ideas has some pros and cons. In fact, a consequent part of this is copy and paste. This means copying other peoples’ business (Peter & Olson, 2010). However, there is no hindrance of doing this, but as an entrepreneur, you should come up with a fresh idea to put on trial and ensure that it is implemented. On doing this, one would be able to identify the problems and advantages, and because he or she is the owner, it will bepossible to make adjustments and improvements where necessary (Loudenback & Kelley, 2013). The kind of business I am thinking about is one that has not been started by anyone in this region. Although, there are other same businesses, my business will be slightly different because it will serve as an online library. It will target an elite group, for example, university students who will get a chance to read online materials which are organized and put in a manner that corresponds with the curriculum. In a view to connecting the business with other
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