Here’s something to exercise a mind-boggling leisure in weaving brilliant business ideas
As high technology defines what’s in and what’s not, we become spellbound with ideas as we try to embark on an odyssey of introducing and launching our businesses.
Kiddos illustrate creativity with a myriad of colors and a whole spectrum of vibrant hues. It is shown through the unique strokes and adulation of shades. However, it can also be exemplified in the business platform. With the current economic slowdown we are experiencing, everyone should keep on sailing. We have to keep afloat despite the aforesaid situation. As more and more businesses enter the market, an entrepreneur must know how to execute brilliant ideas to promote a sustainable venture and secure a spot amidst the competition.
In our entrepreneurship class, we have tackled W. Chan Kim and Renée Mauborgne’s Knowing a Winning Business Idea When You See One. According to the article, identifying which business ideas have a real commercial potential is one of the most difficult challenges that executives face. The information I grasped from their writings, especially the three analytic tools explained namely the buyer utility map, the price corridor of the mass, and the business model guide, have helped me imagine a business that will surely standout among the rest. Our professor, Mr. Ramon Duremdes Jr., continues to underpin each one of us as we uphold our commitment in unleashing our creativity and unveiling our innovativeness.
But how do we come up with resplendent business ideas? Generating ideas is the first step in the undertaking. It is the key to developing a fortune in the business. To answer the question, ideas may be generated through several ways like brainstorming, reverse brainstorming, brainwriting, free association, Gordon method, checklist, and many others. Our group used some of these methods as a vehicle in shaping a blooming business idea for our business plan. Through the collection of each member’s suggestions, we have critically judged all of those listed and picked one which obviously emerged among the rest.
Going back with Kim and Mauborgne’s article, I see the buyer utility map quite useful in superbly transforming a single idea into an array of eclectic ensembles. The buyer utility map helps to get managers thinking from the right perspective. It outlines all the levers companies can pull to deliver utility to customers as well as the different experiences customers can have of a product or service. In so doing, this lets the managers identify the full range of utility propositions that a product or service can offer.
Accountancy students are familiar with the principle “substance over form”. We are applying it in our accounting classes but after a mind-boggling thinking I’ve come across with the thought of incorporating the two, thus, combining substance along with form. Speaking about creativity, I was also bombarded with the phrase “Pushing beyond one’s limits”. Not one of us must be constrained with what’s only available. I am not a sage but in my opinion, anyone can be flexible enough to use his resources wisely and be able to make things possible. That’s the time the alternative takes into view yet preserving the originality.
Electronic commerce or e-commerce dominates the business world. To get a leg up on the competition, an entrepreneur should consider penetrating the market through the web which can bridge a vast geographic area and can therefore bring in a huge niche market. There are free sites in the web wherein one can post and advertise his products or services. With this, everyone can be an active element in the interplay. Michael Rappa’s Business Models on the Web equipped me with the importance of web portals as regards communicating a strong promise to people in fulfilling their needs and desires.
There’s no perfect concoction of plans. It is on how you present it and how you will MAKE a BREAK! No matter how hard it takes, the business should always keep customers abreast with the positive results of the hardwork.
