Introduction

The generation and selection of business ideas is a critical first step in the entrepreneurial journey. The
creative process or procedure that a company uses to figures out solutions to a variety of difficult
challenges is known as idea generation. It entails brainstorming many ideas in a group discussion,
selecting the best idea or ideas, developing a plan to implement the idea, and then putting that idea into
action (Abourizk, 2021). Before generating business ideas, the entrepreneur need to do environmental
scanning using PESTLE and SWOT analysis. Then the entrepreneur will generate business ideas using
different technique such as brainstorming, brainwrite, problem inventory analysis and four group
discussion based on PESTLE and SWOT analysis. The entrepreneur will evaluate the idea which involves
funneling the ideas through macro/industry analysis which is Porters Five Forces and micro screening
using different methods likes Criterion Analysis, ABC Analysis and Cost Benefit Analysis. Lastly the
entrepreneur will choose the best business and conduct a feasibility study on market feasibility,
organizational feasibility, and financial feasibility.

A business model canvas is a representation of a business model that highlights all key strategic
elements. In other words, it’s a general, comprehensive, and all-encompassing overview of the
company’s operations, customer’s, revenue streams, and so in (Hersztowski, 2020). A tool for describing
and evaluating business models that nine components; customer segments, value propositions,
channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and
cost structure.