Understanding the sources of business ideas and their explanations.

Entrepreneurs must first come up with ideas from different sources that should lead them to starting a well planned business.


Here are some of the sources of business ideas


a) Surveys.

Business ideas can be generated from market surveys indicating or showing which sector is viable or possibly void of products. People can check the market to come out with appropriate conclusions on which sectors are not flooded or occupied.


b) Training.

Business ideas can be acquired through training individuals where they are equipped with necessary skills and knowledge from schools and such other institutions of training.


c) Experience.

An idea can also be generated from experience. Experience in itself comes from constant touch on a particular aspect. For instance, an individual might have an experience in accounting through his or her occasional involvement with accounting issues.


d) Hobbies.

Hobbies are what one is fond of doing most of his or her time. At least each and every one finds something interesting and comfortable doing every time. Well, that might be a source of a business idea.


Samuel Baya

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