N4 Entrepreneurship & Business Management 2.8 Places where people gather
Observe people when they get together. Their needs are slightly different and they react differently. Also think of crowd control, short people who cannot see, a hot day in the sun, and sound systems for improved listening. Examples of such places: • Shebeens and pubs • Political meetings • Funerals • Taxi ranks and stations • Beaches and parks
E-LINK
Watch this video on ten bizarre business ideas that made millions
http://www.youtube.com/ watch?v=WBe9lyv6U_g
2.9 Flea markets
Flea markets are always good places to visit and often the starting point for new entrepreneurs. New ideas can be tested here fairly cheaply. You might also find out that many other people are already doing what you have in mind. That means your business idea is not so cool.
A good idea is to visit a flea market in your area and to apply some of the techniques you are about to learn.
2.10 Innovation
You often hear about someone who came up with a brilliant idea of something completely new. Innovation is to develop a new and unique product or service. Kreepy Crawly is a swimming pool cleaning gadget developed by a South African and is now sold all over the world. It is an excellent example of innovation. Not surprisingly, over the years many other companies have developed substitute products which are as good. However, it does not have to be completely new. Perhaps you put the same product into a better box or delivered something that has never been
delivered before. Crocs (shoes) are another example of an innovative product and people love wearing them.
2.11 Gaps in the market
Gaps in the market or shortages appear when a needed product or service is not available or when the demand for a product is more than the current available supply. Opportunities then exist for someone to step in and meet that demand.
Some examples • A hotel employee noticed that there was a demand for a mattress repair service and none existed. She quickly signed contracts with several hotels and opened a mattress repair business.
24
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154 |
Page 155 |
Page 156 |
Page 157 |
Page 158 |
Page 159 |
Page 160 |
Page 161 |
Page 162 |
Page 163 |
Page 164 |
Page 165 |
Page 166 |
Page 167 |
Page 168 |
Page 169 |
Page 170 |
Page 171 |
Page 172
