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Chapter Two Developing and screening business ideas – Three most common sources of new business ideas – Techniques for generating ideas – First screen 2-2 Introduction •Many businesses fail because the idea wasn’t a good one to begin with •Techniques can be used to explore the most common sources for new business ideas •First Screen provides entrepreneurs with multiple business ideas 2-3 Three Most Common Sources of Business Ideas • The first step in creating an effective business plan is selecting an idea that fills a need and provides unique value to the customer • It is difficult to get people to change habits and behaviors to try a new product even if the new product is better or less expensive 2-4 Figure 2.2 Three sources of new business ideas Changing Unsolved Gaps in the environmental problems marketplace trends 2-5 Three Most Common Sources of Business Ideas •Changing environmental trends – Economic trends – Social trends – Technological advances – Political and Regulatory changes •Unsolved problems •Gaps in the marketplace 2-6
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