Saturday, March 2, 2019

business ideas

business ideas


Four Clever Ways To Discover Disruptive Business Ideas - Forbes

Posted: 01 Mar 2019 07:20 AM PST

The most successful brands and products aren't often the copycats. They're the originals that bring something new to the market. Here's how to discover those disruptive ideas.ISM | Justin Kwong

The most successful brands and products aren't often the copycats. They're the originals that bring something new to the market. Even if your idea isn't a completely unique, never-before-heard-of concept, there's no denying that if you want to make an impact and grow a sizable business along the way, you need to be disruptive.

The importance of this concept really hit home during an interview I recently had with Justin Kwong, founder of ISM, a maker of high-quality bags, backpacks and other lifestyle goods here in San Francisco. Kwong's disruptive approach to creating stylish men's backpacks and other products helped his company go from prototyping to a $1 million run rate in less than a year.

Pulling from lessons learned along the way, here's how you can discover your own disruptive niche business ideas that'll help you find similar levels of success.

1. Focus On Solving Your Own Problems

I've long written about the importance of using your own experiences to find the right business ideas before, and Kwong serves as another great example of how important this concept is when looking for disruptive product ideas.

For Kwong, his initial idea for an entrepreneur-friendly bag, "Stemmed from a problem and an opportunity I saw while I was working as a freelancer. I really saw this need for a backpack I could carry around with me, that would look professional enough for a client meeting, and could also carry my laptop without being a hassle."

What was the niche problem Kwong identified?

He couldn't find fashionable bags that also had functional laptop compartments and came at a halfway reasonable price here in the United States. Perhaps unsurprisingly, this led Kwong to think, "Maybe there's an opportunity here to create a really high-quality bag that looks great, is stylish to other young professionals, and still functional because it's going to serve as a work bag rather than a fashion bag."

2. Identify Competitor Weaknesses

For Kwong, a major opportunity that he discovered when initially conducting research for his product was the price point—his closest competitors were typically selling their products for several hundreds of dollars. They were the types of products that a well-established, middle-aged businessperson might use during their travels, but not something the average young professional would be able to splurge on.

Business bags aren't a new concept, nor is the idea of offering stylish backpacks. But what Kwong identified was the fact that nobody else in his niche was selling bags that combined style, functionality and affordability. Thus, he had the perfect opportunity to offer a new, disruptive product that met a previously unfulfilled need.

The same concept is just as applicable in other industries, too.

Take some time to research other brands in your niche—both the major market leaders and the smaller, newer brands. As you evaluate their products and services, you'll likely be able to identify gaps where they don't quite meet what a segment of their target audience is actually looking for. Positioning your brand as one that can deliver where others fall short, could prove to be key in disrupting your niche.

3. Look For 'Third Places'

Wondering where to find new customers so you can gather novel insights about how to disrupt your industry? Start by examining the "third places" where your customers congregate those locations where they choose to spend their time outside of home, work or school.

To learn more about this concept, I reached out to Esther Crawford, CEO of Squad, a disruptive mobile app that allows users to screen share from their smartphone with friends.

"You have to be mindful of where your audience is spending its time and what they're doing when they get there," Crawford explains."Teens today spend much of their free hangout time in digital spaces rather than physical places. Apps are to Gen Z what the mall was to Gen X—they're places to have shared experiences with friends."

"Entrepreneurs need to actively look for ways to become integrated into these new third places so they can better understand their consumers and make a stronger impression," Crawford adds.

If you already have an idea of who you wish to target for a new business idea, try learning more about how they spend their free time first. This could open up new approaches to how you can further differentiate your product and get an edge over existing players in the market.

4. Be Willing To Iterate

"You don't need to have a perfect product from day one or day ten. Make something and get it out there, then make the second version a little bit better, and the third version a bit better than the previous one," Kwong advises, noting that this is just as applicable when you're creating a physical product, as it is to building a digital product business.

While you obviously shouldn't rush a low-quality product to market, you also can't afford to wait around and tinker with it until you achieve perfection. You don't know how long your window of opportunity will last, so timing is always of the essence—even if you're starting your business on the side of your day job.

"The longer you wait, the more likely it is that other entrepreneurs are going to recognize the same issues you did and try to take action themselves," Crawford adds. "Even if you came up with the idea first, if you let others beat you to market, you'll be viewed as a copycat. Use customer feedback from your initial launch to fine-tune and reiterate things so you can maintain your position when other brands arrive in your space."

If we've learned anything in today's age with companies like Uber, Tesla and Airbnb, it's that long-established industry norms don't need to stay entrenched forever.

As you think outside the box and look for niche business ideas that others aren't yet addressing, you'll be better positioned to introduce the products and services your target audience is searching for. Disruption is possible in practically every industry.

When you're the one leading the charge, you'll be well on your way to entrepreneurial success.

HEAT Lab designed to collaborate business ideas - 14 News WFIE Evansville

Posted: 01 Mar 2019 02:20 PM PST

[unable to retrieve full-text content]HEAT Lab designed to collaborate business ideas  14 News WFIE Evansville

The HEAT Lab provides a place where people can collaborate on ideas with one another. They're also partnering with Murray State for the project.

Business ideas sought | Local News - Oskaloosa Herald

Posted: 01 Mar 2019 11:27 AM PST

OSKALOOSA — Oskaloosa Main Street is looking for interested entrepreneurs who could use $20,000 to expand and grow their business idea within the Oskaloosa Main Street district.

The 'Open 4 Business' contest, launched in 2015, is an opportunity for businesses located within a state-designated Main Street district, to compete for a chance to win up to $20,000 in grant funds to assist with a business development or expansion project that will help them grow their business.

Businesses must complete an online application and submit a short video outlining their business idea and how it will benefit the local economic climate in their community. A 25 percent cash match is required. Businesses must have been in operation for at least one year to apply.

The grant funds are administered by the Iowa Economic Development Authority's Downtown Resource Center and Main Street Iowa program.

Stop by the Oskaloosa Main Street office to pick up an application and instructions for the local grant competition. The deadline for applications to be submitted the local program is April 15, 2019, by 4 p.m. at the Oskaloosa Main Street office, 222 1st Avenue East.

Each designated Main Street community may submit one local business applicant that will represent Oskaloosa at the state competition held in Des Moines on June 27. Local businesses could win up to $20,000 to help support their business expansion idea.

Main Street staff strongly encourage applicants to review program information, rules, and guidelines. These documents can be provided through Oskaloosa Main Street upon request.

For complete details about this program, please contact Emily Brown at 641-672-2591 or by email ebrown@oacdg.org, or Robin Bostrom, Business Specialist, Iowa Downtown Resource Center/Main Street Iowa at 515-348-6176 or robin.bostrom@iowaEDA.com.

2019 most successful business ideas list - South Florida Caribbean News

Posted: 01 Mar 2019 04:40 AM PST

Most of the people decide that only rich persons can start a successful business but this idea is not correct there are lots of people in the industry who have started their business alone only with the peanuts of money and now they are the leading top persons in the industry in their own style.

Starting a business is a good idea but you should have more ideas about it and also you should be aware of need of market value only then you can win in this competitive world, when you satisfy customer's needs in your product and if they are fully satisfied in it and you will the top position in the business. Think differently and smartly which will make you shine in the business industry. There are many businesses in that your implementation of ideas should be different.

So this is the right time to startup your business you can start your business alone in 2019 with full of dedication and enthusiasm first starting a business just you need to have business ideas for you, with this you can come up with rising stars in the world.

2019 most successful business ideas list

There are tons of ideas for small business, as per your skill you have to choose the best small business idea which will be helpful for your future.

Still if you need any suggestions you can also verify in the link   https://www.journalreview.org/best-small-business-ideas/  this will suggest you to bring up with new ideas.

Requirements needed to start a business

When you start thinking that you should start a new business you should have a clear answers for these questions initially you should be very clear in your interest in starting a business and after that you should collect the details and ideas about the need in the market and how can your product will satisfy the needs of the customer and is there demand in the market for your product. After that you should be very clear in your ideal client and you should clearly think about the work environment. These ideas will help you to grow in your business.

Main factor to set up business

Initially the main important factor to start a business is money without investment you can't start the business the investment may vary, but investment is important. Setting up business with good investment and bringing out with best idea is one of the very hardest situations nowadays. Many of the entrepreneurs they struggle in starting a business since they will have a good idea but they will feel risk in their investment, there are many problems which will be raised while starting a business for the first time and especially we want to start a business with right profitable one.

Best idea to start a business

If you need to start business the perfect best ideas which will support you are

  •   You should start something which you like the most.
  •   The business which you start it should have a clear cut idea about that and you should be very good at that.
  •    You should start a perfect business which is highly in demand.

If you follow these three ideas you will surely be the top most business people in the world.

Highly demanding market

There are some businesses there are highly demand in market. In the current scenario, the designers are grabbing the attention of people for their work. Now all type of designing field which is highly demand in market such as jewelry designing which is the best option fashion designing, interior designing is also one of the leading business. Also, Event planning is one of the very high booming industries today since many of the people they start planning their occasions such as wedding, parties, friend's birthday party etc… In a hall so for that they opt for an event planner who designs planning and organizing events the only main factor is you have to satisfy the customer needs.

Blogging sites of one of the leading business if you are passionate towards this field where you can express your contents and you can shine in this business when your blog brings with more traffic and there is a chance of making more money on you and your block will be more profitable one.

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