How to Come Up With a New Business Idea

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How to Come Up With A New Business idea?

• Opportunities for All

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Table of Contents

• How to come up with a New Business Idea?
• What are you passionate about?
• How much money are you trying to make?
• Does it solve a problem?
• Does idea have an opportunity in the market?
• Build on an idea
• Do it better!
• Conclusion

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How to come up with a New Business Idea?

• Business opportunities are many if you have a
  brilliant startup idea that could actually work.
  But finding a profitable business idea is often
  hard and rare. Here we try to list a few things
  that you can use, to come up with small business
  ideas to make some money.
• A new business idea will help you make some extra
  income along with the one you already have. You
  can find them online through sites like Viewham,
  or you can make a small investment to get your
  startup going. Either way, you need to answer the
  following to get going!

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What are you passionate about?

• Is there something you love doing on a daily
  basis? Something that you can do every single day
  without getting bored? Then that particular thing
  is called being passionate.
• With Viewham, you can now turn your passion into
  a business opportunity. All you need is a small
  investment to get you started and Viewham will
  also help in finding that too!
• Your passion can now be your startup idea that
  you can start anywhere, anytime with a small
  investment.

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How much money are you trying to make?

• Not everybody tries being a billionaire. Lets
  face it ! You need some strong star-luck to be
  one! Let's say you are someone who is looking to
  make some small time money. Wouldnt you like
  taking up the responsibility of a small start up
  that can sustain and make money?
• Finding small investment these days are easy.
  Websites like Viewham can help you find one
  readily. To convert a small time basic idea into
  a money making, profitable venture requires time,
  dedication and some amount of luck.

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Does it solve a problem?

• You need to evaluate if your idea can potentially
  solve a problem.
• You need to analyze if the market needs such a
  product or a service.
• Will it need a lot of investment? And can it
  cause a lot of loss?
• Can your product be substituted easily?
• All these questions need answers before you can
  take off on an idea. Starting something is easy,
  but building takes time and sustaining it will be
  even more harder.

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Does idea have an opportunity in the market?

• To understand this, you need to do some market
  research. Top business ideas are those who are
  identified in the market easily.
• To be known in the market, you need to check if
  there is a potential problem your product/service
  can solve? If so, then will it find a long term
  spot in the market? Is it easy to sustain? Can it
  be easily replaced with competitive prices?
• How many companies are doing something similar
  like your product or a service?

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Build on an idea

• If there is an idea people are talking about,
  then they are also thinking about a solution to
  that idea.
• Instead of competing with the same solution, try
  to analyze if there is an alternative in the
  market that can perform better economy wise?
• Building on parallel idea is not harmful, and is
  certainly fine as long as you are not replicating
  the entire idea itself. For example, JK Rowling
  already knew that witches used broom sticks to
  fly, she simply built Quid ditch on this idea!

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Do it better!

• If you see something and you sincerely feel you
  can do it better, then you have to go for it.
• There is a good possibility that you will find an
  alternative product better than the original one
  as and when you progress.
• Keep business plans, return on investments plans,
  business profits, revenue distribution as clear
  as possible.

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Conclusion

• There are many ways to do the same thing and it
  depends on what you choose in order to make
  something profitable.
• We did mention a few things that has worked for
  many. Viewham has a high number of registered
  people exchanging ideas, building top business
  ideas along the way.
• To know more, share, like and subscribe, visit us
  on www.viewham.com

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Thank You