This is particularly easy to do on the Internet

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And you also get a lot of motivation , which is very important. And of course you can also get inspiration from abroad or from other industries. Many successful companies have copied and modified other business ideas. analysis of the business idea But how do you actually go about it? First, you carry out analyses. I would also like to point out here that idea generation and analysis run more or less parallel. market analysis The point here is to find out what your own market actually looks like. Even if you will generally be active in a market that you know and where you have expertise,


you should get a precise picture of the current market. Many start-ups singapore email list start developing business ideas for certain markets with assumptions and only imprecise detailed knowledge. It could be that there are already companies that offer a solution to a certain problem, but you yourself didn't know about this company until now. And of course you should know how big the market is. After all, a solution to a problem can be as great as it can be. If only 10 people have this problem, then you will hardly be able to build a successful business. The purchasing power of the potential target group also plays an important role. competitor analysis Of course, you should also take a close look at your competitors.



This is particularly easy to do on the Internet. For example, with the help of tools you can see where your competitors are in Google and you can find customer reactions to individual companies on the Internet. competitor analysis Ideally, you have little or no competition in the market (sub-market) you are targeting. I have already introduced the concept of blue oceans in a book review here. Many self-employed people throw themselves into the middle of the "red oceans" with a lot of competition and then have to fight just to stay alive.