Tag: Entrepreneurship

Today we are going to learn about and conduct a target market segmentation analysis so we can find and define our target market for your business plan. Here, we are going to segment your addressed market. By segmenting your customer base you will begin to understand your customer by knowing who they are and what…

We’re looking at combining business concepts, the final way you can generate a business concept. We’ve had a look at spotting a gap in the market and copying that business concept. There are a few ways you can combine business ideas: you can merge different elements of multiple business disciplines such as the creation some…

Once you have finished your business brainstorm session and have looked at the business concepts you’ve generated it is time for a business concept assessment. The secret in this step of the business startup and planning phase is to quickly check, rate and scrutinize the business opportunity to see if it can be a practical…

We’re still on the topic for generating a small business concept and today we’re exploring the idea of copying a business concept. Think about and brainstorm the businesses that are currently successful on the market. Perhaps you can add your own twist to the same business idea the current players have provided. So where can…

Spotting a gap in the market is one method for generating a business concept. Spotting a gap means that you identify a need or a want for a certain population of the market which isn’t currently being served. The gap in the market can occur because of a new technological advancement, a new invention, a…