Turn business ideas into money

Creativity in new business initiatives happens all the time This may be because business owners can now research and study about new innovations more easily. With advances in technology, however, initiatives in product and service development are most beneficial and efficient. When products and services can deliver real value (Value)

to consumers. Entrepreneurs starting a new business may try the following methods. To study the possibility of selling products and services

1. Products and services can actually solve problems for consumers or not, and how?

Many people may have heard that “What kind of product or service can solve Pain Points?” Which Pain Points refer to consumer problems. or customers in the target group of business owners The fact that products and services can help solve the problems many consumers are facing. This is to achieve the objective of delivering

value of products and services to customers. And could mean a bigger market size, the operator may be able to sell their products and services

2. Taking into account the price is right. and the possibility that consumers are ready to purchase goods and services at a specified selling price.

When consumers know the ability of products and services to solve consumers’ problems, then The next step is to make a decision to purchase that product or service. The main factor in consumer analysis is inevitable. The factor in terms of selling price (Price) by the selling price set by the operator It should reflect the true value of goods

and services. And also need to consider strategies for generating profit from the selling price. Including taking into account the various expenses as well.

3. Looking for a target audience.

that businesses can find target groups to sell products and services Refers to the possibility of selling goods and services to the market itself. Moreover, having a goal to communicate about products and services. Can help businesses market to the point. This means spending on effective marketing. If the target group of the business Is a

niche market or niche market entrepreneurs need to make sure that consumers with this group. Able to create a market for selling goods and services that is true and sufficient to sustain the business of the business Businesses with Niche Market customers, for example A shop selling equipment for left-handers, etc.

4. Market testing.

Market testing allows operators to know the feasibility of selling goods and services under real-world environment and market conditions. The operator may get critical opinions about the customer’s actual needs for the product and service. By testing the market, there are various methods such as trial product distribution Using an

experimental group to test the product for a period of time to ask for opinions or Feed back about the product to be developed improve products to meet the needs of consumers as much as possible To increase the value of goods and services as much as possible.

5. Prepare funds.

Capital is a key factor in running any business at any given time, whether it’s a new start-up. as well as any business that has been in operation for a long time because if there is a lack of funds means that there is a lack of financial liquidity causing The

purchase of raw material has problems with employment or employee payroll. This is another important resource of the business itself.

“Capital” is another key factor that makes business initiatives can come true Even though businesses have proven feasibility to sell goods and services. Lack of working capital or start-up capital It may be a major trap that makes many entrepreneurs troubling.

6. How do you market your business?

when going through the initial process that allows entrepreneurs to visualize and conclude that Products and services have the potential to be marketed. and there is a real need Next is planning strategies and methods for communicating and delivering business messages about goods and services to consumers. The entrepreneur must

study the appropriateness of the marketing of the products and services that What kind of strategy, where, and with whom must be used in order to achieve the most effective and targeted marketing?

Good Business Ideas are ideas that can help consumers solve problems. that are encountering can actually generate income from sales And there are real customers, which are the 3 components of starting this business, which are 3 elements that entrepreneurs, especially entrepreneurs who are starting a new business, should focus

on because if one of the elements is missing A business idea that is invented may not be of benefit or value to anyone, be it the consumer or the business owner.