Business world is full of enchanting but also hidden danger. You are determined but not sure luck. You are talented but you may not be able to adapt. Everybody knows the business idea is important, and the successful person is the creator of a superior product but how to find this product, the idea is a difficult math. Therefore, the post will introduce 10 simple ways to create business ideas from InventHelp.
- Upgrade the product by adding value
You should choose a basic product and make it special by adding value or marketing effort to making it a lifestyle symbol. Luxury car and jeans are examples. These are the basic products in everyday life but just a little bit of adjustment are that you can bring them to a completely different customer segment. Furthermore, fabrication is also a popular trend. However, if hand-made products are raised to art products will be much more expensive. If you need more examples, you should learn how Hermès sells handbags.
- Downgraded to appropriate product segments majority
Introduce a product that is considered “VIP product” down to a popular product is also good business idea for companies. For example, People Express Airlines removed all of its airfare such as snacks, magazines, and became the first company in the world to offer low-cost airfares from 80 years. Therefore, the airline has more customers for their flights.
Instead of forcing consumers to choose individual items individually, you should combine them into one package. For example, every smartphone now has a camera, a printer, and fax, scan and photocopy functions which help users feel comfortable and love for using because they can do everything on your mobile only.
In contrast to the method above, there are separate things that are easier to sell. Life insurance is a typical example. Previously, an insurance product had all the benefits of protection and saving benefits. However, short-term insurance products only provide protection benefits that are increasingly popular because today’s consumers no longer care much about the form of savings through insurance, instead, if they want to save, they choose the bank.
The core of import and export is to meet the needs of cross-border geographic. Japanese restaurants in Vietnam or Vietnamese restaurants in the US, these are easy examples of success when bringing products and services to different regions around the globe.
Trying to see a product limited to one locality can be sold widely to all mass consumers. Japan’s Kobe Beef, for example, has now become a sought after appetizer in many luxury restaurants around the world. Therefore, when thinking about business idea, you can refer to specialty of your province or country to develop.
Try to classify the customer as accurately as possible to find a “loophole” to enter. You may also notice that there are many TV channels that specialize in certain topics. That is the way that many entrepreneurs choose. Attacks niche markets and focus on strengths will the best idea for business plan.
- Think more
Rather than focus on product development, you should also take the time to imagine the broader picture. Everything related to the product such as production, distribution, display, after sales, customer service, marketing, policy and so on, all need to be thoroughly researched.
- Narrow mind
While large retailers such as Lowe’s American furniture chains can offer a wide variety of goods, they can not provide selective products that meet the needs of discerning consumers. They do not have well-trained staffs, have extensive knowledge to give advice. Moreover, if you do not be afraid of the giant, you can also be successful to open a small shop, focus on selling a few types of goods and own unique products.
- Review prices
For those who are eager to start a business, competition by price does not seem like a good idea. However, it is really the simplest and most effective weapon.
What is the biggest difference a customer can make between you and your competitor? Only one answer is the price. This is a risky strategy, because you have to bear the profit, but it is worth trying. Therefore, hope that the information from InventHelp will help you have amazing and useful idea for your business plan.