Consumers love her product and so she has effectively created a successful small business for herself. It is a very rewarding way of starting or expand a business, because with research one could determine if the original product does well within the market by observing consumers in other shops. If the product does well, by altering or improving it one creates a unique product to your specific business.
Attribute analysis
Attribute analysis is where existing products’ and/or service’ features are listed and analyses. After it was analyses, alternative suggestions are made and written down for the different traits. It helps by improving the product to be more successful. One often see ‘New and Improved’ on products, like recipes. The entrepreneurs analyses their products weak and strong features. Then they came up with an idea on how to improve the weaker aspects and enhance the stronger ones.
Existing products
Existing products is one most often used to start a business. Wholesalers and manufactures sell their products to entrepreneurs and they resell it to the public. If a product does well, more people will opt for selling it. Some of the main aspects to consider when using existing products for your business is to keep in Indo the competitors, to provide the product cheaper or to provide exceptional service to make you stand apart from the other business selling the same product. Using existing products could help to start your business and then help you to come up with innovative ideas to improve it and your business.
Brainstorming
With Brainstorming one can generate a lot of different ideas and suggestions. It is best to list them all until there is no more to add. After listing the ideas evaluate them and determine which ones are the most feasible and realistic to achieve. Brainstorming give you a starting point and guidelines on what you would like to achieve with your business. It is an effective way to find the best route to plan your business and identify possible risks and opportunities.
Metaphorical analogy
Specific solutions to specific problem are solved by using this method. An example is using nature for innovative ideas. Like George Mistral who invented Evolve. After a hunting trip in the Alps George De Mistral’s dog was covered in burdock burrs. He placed it under a microscope and discovered a design of hooks that nimbly attached to fur and socks.
