Do You Have a Business Idea/Plan?

Maybe you have some business ideas in mind, but you are not sure how original they are. If so, you may be surprised to hear that not all entrepreneurs come up with totally unique ideas. You can be innovative without necessarily creating something totally new. Here are five ways to build on already existing ideas and still create a unique profit-driven concept.

  

1.       Develop ideas that are an extension of or a redesign of existing services (For Example, Sam’s Club is an extension of Wal- Mart). 

2.       Re-segment and create improved services (For example, FedEx provides overnight delivery). 

3.       Re-differentiate and market the product at a lower price (For Example, Sam’s Club Offers substantial discounts to its members). 

4.       Add value to an existing products or service (For example, some companies sell PC, s meant to be used only with the internet). 

5.       Develop or redesign new version of an existing product (For example, you could repackage a product such chocolate-chip cookies in a new way).

Click Here To Download Sample Business Plan