Business Marketing & Finance Resources

Let’s look at a consistent method in 5 steps; we will identify a good business opportunity:

1. Brainstorming

First we make an extensive list of business ideas that we can find, and that can be attractive.

To find these ideas, a technique may be to write an activity we like to make, and then write all the businesses, products or services related thereto. You can do this for various activities that we like.

Or, simply, we can go to various sources such as Internet, libraries, publications, family, friends, etc.

The idea here is to achieve a list of some 200 business ideas that have some appeal for us, no matter at an early moment, we seem far-fetched.

2. Evaluate each idea

Secondly we evaluate each of the ideas for business, so, to every idea, answer the following questions:

* Is there enough demand for that product or service? (Are there enough customers willing to purchase or use?)
* Goods or services to offer cover a need in the market?
* Address a growing market?
* Do not have much competition?
* Is the business is based on an innovative product or service?
* Does the product or service present an added value?
* Does the product or service has or may have a differentiation? (Something that distinguishes it from competition, which is innovative, and it would hardly be imitated by the competition)
* The product could create a higher quality than the competition?
* Could provide better customer service than that offered by competitors?

These questions can be answered with “yes” or “no”, or we can respond openly. The ideas that have a higher percentage of negative responses, the ruling will go, leaving us with ideas that have a higher percentage of positive answers.

At the end we should stay with a group of 10 to 15 business ideas.

3. Deeper analysis

These 10 to 15 business ideas that we have selected, subjected to more rigorous analysis, where indicated the benefits or advantages or disadvantages and problems that could present each idea.

To do so, to every idea, answer questions more complex than previous ones, such as:

* There could be difficulty in producing or marketing the product, or provide the service?
* I have the knowledge necessary to mount such a business? Or, in any case, I have the contacts or the right people that could help me with it?
* I have enough capital to set up such business or enterprise? Or, in any case, I have the ability to access some funding that allows me to do this?
* How can I access or have the necessary resources, as well as financial, to create this business?

After this analysis we will choose the best business idea, which will undergo the feasibility study.

4. Feasibility Study

The idea that we selected in the previous section, was subjected to a feasibility study which involves making a small, informal market research where our goal is to get a first idea of the viability of the business.

In this informal market research, competitive business visit and discuss their strategies and errors, we acquire their products or use their services, customers do small surveys that power, or people who have worked in similar businesses, we will consult professionals, etc.

This research will give us a first idea of the viability of the business idea, if convinced of its viability, we turn to the next step where you will submit the idea to develop a business plan.

But if after doing this research, we are not convinced of the viability of the idea, we take the next most important idea from the list we had developed in the previous section, and submit to this study.

5. Business Plan

And finally, once approved the idea of business in the pre-feasibility study, we will submit this idea to develop a business plan.

In this business plan, through a more formal market research, and a study on the investment of the business, know the profitability and other aspects that help determine the viability of the business, i.e. will tell us whether our initial business idea is a good business opportunity.

Many people expect to find one day your great business opportunity, others looking for great business ideas to start, others wait to put together a good capital to start his new business.

The common factor in these people is that probably never get to create your own business or enterprise.

Expect to find a great opportunity, look for big business ideas, or wait to accumulate a good sum of money to start a company, seem to be only excuses for not decide once and for starting a business.

If anything we should learn from big business or businesses, is that started as small businesses.

Are small businesses that we will have a great company?

Maybe at the beginning not very clear as we achieve it, but we must be sure of is that our small business start, we become more adept at identifying opportunities, know people who can give us clues business, and we become better able to conduct business.

Having a small business, does not mean you can gradually grow into a large company, or in the future we may modify or redesign the business, or know people that manage, identify new needs, or we come up with new opportunities and thereby create new businesses.

Therefore, the recommendation is do not expect much to begin at once our own business, let us not spend time waiting for the big occasion, looking for big trips, or gather a good capital to create one. Let’s start a bit with a small business, and only have one day come to our great business.

Internet commerce is increasing at a rapid pace, increasing the number of Internet users, and increasingly increasing purchases via this medium.

As a good business opportunity is to create a virtual store, either to sell the products that we sell in our physical business or company, or to sell new products and start a new business.

Basically, an online store is a website where products are displayed, offering the possibility that visitors can purchase them by paying via credit card. Once payment is made, the product can be downloaded by the client, or is sent to your home.

In a virtual store may sell all kinds of products, but due to security concerns and habits, some fail to be as successful as others. Among the best sellers at online stores are eBooks, software, apparel, music, spirits, crafts, postcards, gifts, etc…

Although a virtual store is designed primarily to sell products via the Internet, also serves to promote the products, the brand or company. It also offers the possibility that the visitor know how to contact us (for example, to request additional information), or know where to find us physically.

Another advantage of having a store is that its creation is generally simple and low cost, operates 24 hours a day for every day of the year and, above all, allows us to reach markets located anywhere in the world.

To create a virtual store, just have some knowledge of web design, and make use of programs such as osCommerce and Zencart OpenCart. But if we do not have expertise in web design, then we must hire the services of a professional designer.

When designing ourselves, or send to design our virtual store, keep in mind the following considerations:

* Professional and appealing design: our online store must have a professional and attractive design, i.e. must have a well-worked design that projects the image of a serious company. And, in turn, must have a design that attracts and encourages the user to purchase.
* Quick and easy navigation: the navigation of the online store should be simple, intuitive and fast, we must ensure that the user can easily locate the products they seek, and always know what section you are. And besides, we must ensure that the store pages load quickly, preventing the end user can expect both bored and decide to leave.
* Trust and security: in the Hispanic market there is still some distrust to shop online, so we must ensure that visitors feel safe when making purchases. To do this, we may use a digital certificate that ensures that customer information will not be intercepted by third parties and is kept confidential.
* Company information: You can also create a sense of confidence and security in the user is making a clear description of our company, which must include our key data such as address and phone.
* Product information: products will exhibit in our online shop as well which should be an attractive image, must also have a good description that highlights the main features or benefits. We must also clearly indicate the product price (including tax and shipping costs), and the delivery terms (forms and deadlines).
* Payment options: our shop has to offer several payment alternatives. There may be customers not to discuss alternatives, decide to seek the product in the competition. As well as providing the possibility to pay by credit card, we also offer other payment alternatives, such as bank deposit, bank transfer, send money through any international agency, etc.

Once we have our online shop is necessary to promote it, the main ways to promote an online store you can find them in the article: how to promote an online store.