Part 2: How ready are you to start a business – Exploring your business idea.

In this second part of the series of our ‘Navigating the world of entrepreneurship – How ready are you to start a business?’, we look at the narrowing down of your business idea as well as knowing what to focus on including idea generation and using the problem and solution approach.

Business ideas are usually generated from problems and challenges that you either come across, that of others around you or elsewhere in society.

Hence you will need to determine whether your business idea helps with the following:

  • Helps solve a problem in society or general population.
  • Helps you or others to utilise relevant skills, interests and hobbies such as those you are passionate about.
  • Makes a society better or people’s lives easier such as helping people connect, enable people to easily access a range of services, making certain services and things convenient etc.
  • Improves society or those that improve or fulfil people’s needs such as easy access to products and services.
  • Improves ways of doing things e.g. alternative or digital versions of existing products and services.

Once you identify the problem the next thing to do would be to come up with a solution that would solve that problem.

We hope you found the above information enjoyable but most of all helpful!

If you’ve missed any of the series of our ’Navigating the world of entrepreneurship – How ready are you to start a business?’, discover them here.