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– Second level
Session 3
• Third level
– Fourth level
Developing and
» Fifth level

Screening Business
Ideas (part 2)
2-1
 Idea Source 2:
Unsolved Problems
 People Trying to Solve a Problem End Up Starting a
Company

 Emerging Environmental Trends Create Problems

 Find
a Similar Problem That was Solved, and Then
Apply That Solution to Your Problem

2-2
 Idea Source 3:
Gaps in the Marketplace

Large Retailers Compete on Price, But Leave

Gaps:
◦ Economies of Scale
◦ Target Mainstream Consumers

TakeExisting Product and Target New Market or

Geographic Area
◦ Can’t Find Needed Product
◦ Geographic Location with Small Population
2-3
 Techniques for Generating
Ideas
Recognize Ideas Based on Casual Observation,
Intuition, Serendipity, or Luck

Intentionally Seek Ideas Through Three Sources:

◦ Brainstorming
◦ Focus Groups
◦ Library and Internet Research

2-4
 Brainstorming
 Target a Specific Topic

 Group Shares Ideas in Lively, Freewheeling Manner

 No Evaluation or Criticism Allowed

2-5
 Focus Group
Gatheringof 5 to 10 People Selected Due to Their
Knowledge of Issue
Usedas Follow-Up to Brainstorming to More
Thoroughly Examine Idea
Conducted by Moderator Who Keeps Everyone
Focused on Topic

2-6
 Library and Internet
Research
 BestIdeas Include Extensive Library and Internet
Research
 Discuss Area of Interest with Reference Librarian
◦ Trade Journals and Industry Reports
 Use Search Engines and Alerts for Internet Research

2-7