πŸ‘‰ Developing Business Ideas and Opportunitiesβœ…

You may have considered the prospect of starting your own business many times before. The thought of being your own boss – calling the shots, being responsible for your own financial rewards – is very alluring. You may have had the drive, the experience, and the financial resources necessary to succeed. The only thing stopping you were figuring out what type of business you should start.

If this sounds familiar, you are in good company. Most entrepreneurs take a considerable amount of time investigating, analyzing, and agonizing about the right type of business for them. They may have a multitude of ideas, but are unsure which one of them would be the most satisfying and successful. The opposite is equally common: they do not have a business idea, but know they want to be an entrepreneur.

How do people come up with ideas to start business and how do they know if an idea would make a good business?

Identification of Business idea:

Business ideas come from three main sources:

(i) Copying existing businesses.
(ii) Identification of needs that are inadequately fulfilled by existing businesses.
(iii) Entirely (innovative) new products and services.

(i) Copying existing businesses

This is perhaps the most common way by which many people in Tanzania start their businesses. They observe what others are doing and try to do the same. Such businesses are also known as β€œcopy cats”. The assumption is: If others are making money out of this activity, why not me? The result is that sectors that are easy to enter tend to be extremely crowded and therefore unprofitable.

(ii) Identification of needs that are inadequately fulfilled by existing businesses

Often business ideas are generated from a problem in the market place:
β€’ A group of people have needs that are not being properly satisfied - This leads to an idea for the solution to the problem - If the idea can be proven to be viable, a business opportunity has been created.
β€’ Many famous businesses have been started because an entrepreneur solved a problem by turning it into a successful business. The problem was treated as an opportunity. To become an entrepreneur who can recognize business opportunities, ask yourself such questions as:
o What frustrates me the most when I go to buy something?
o What product or service would really improve my life?
o What makes me particularly annoyed?
o What product or service would eliminate that annoyance?
β€’ Personal frustrations. Sometimes, one finds it difficult to obtain certain products or services that one badly needs. Sensing that other people might be facing the same problem, one takes the personal need as a business opportunity

(iii) Entirely new products or services

Some people have the capacity to see beyond the small gaps between what is on offer and the varieties and qualities that potential customers or markets need. Such people come up with completely new business concepts. Such business ideas can come from serendipity, or careful analysis of economic, and social changes, (video rentals, conference centers, etc. were completely novel when they were first introduced).

β€œEntrepreneurs imagine what they want and then create it”

Businesses also come into existence when entrepreneurs fantasize about products or services they wish existed. You can jump-start your imagination by asking yourself (or your friends) questions like the following:
What is the one thing you'd like to have more than anything else?
What does it look like?
Or taste like?
What does it do?

As an entrepreneur, you must learn to look at situation from a whole new perspective. You must look beyond what is there and imagine what could be there. The possibilities are endless. The opportunities surround you/us. The challenge is to learn how to recognize problem and visualize solution. How? Brain storming with friends and family, or shed your barrier and think positively.

Other sources of business idea can be from the following:

β€’ Reading of brochures, newspaper, magazines, books etc.
β€’ Attending trade shows
β€’ Surf the internet
β€’ Attending conferences
β€’ Never stop learning!

🐼 Other interesting posts;-πŸ™‰

.

πŸ“° Recommended PostsπŸ‘‡

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Kid: He is 6 years.
Teacher: What? How is this possible?
Kid: He became father only when I was born.
Logic!!πŸ‘ŒπŸ˜³….continuing....

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πŸ“Œ Be careful

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πŸ“Œ Look how words you use may change your life

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πŸ“Œ The Blessings of disappointment

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πŸ‘continue to read about πŸ‘‰The Blessings of disappointmentβœ”

πŸ“Œ Later of stoping job

LETA OF STOPING JOB.
Dear bhosi
I ryt this leta to refuz job as gardenboy. Enafu is enafu! Yu didi not add money from long ago. U giv mi young money witch can only by 5 pakets of shuga. Very moon yu giv envilope, I open only to c young money inside. One de I weo ap let bcoz I was seek, madam kik me lyk soka. My board was hate lyk I waz bitten 619 race-ling. This is ova, am also a woman beeing…..continuing....

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πŸ“Œ A lesson from ATM 🏧 machine

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πŸ“Œ Ways of get money for your business

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πŸ‘continue to read about πŸ‘‰Ways of get money for your businessβœ”

πŸ“Œ Funny mathematics paper

MATHEMATICS,PAPER 1 P299/2
Time:2:30mins
Instruction: Attempt any four
questions.
ALL QUESTIONS CARRY EQUAL MARKS.
1. You have dated a girl for two years and eventually she drops you for another guy. Calculate the percentage of time wasted (20 marks).
2. You buy airtime for your girlfriend and she calls another guy. Using trigonometric identities, derive the general formula for this kind of love (20 marks).
3. You are dating four girls simultaneously, and each of these girls is demanding a Samsung Galaxy S5 and an Ipad 3 from you.
(a) Plot a graph of girls against the prices of these phones(15 marks).
(b) Using data from your graph, state the estimates of your future poverty (5 marks).
4. You are dating other people's sisters, but you don't want to see any guy with any of your sisters. Calculate the percentage error in your thinking capacity, given that you have 4 sisters and 3 girlfriends. Take Pi = 3.14 (20 marks)…..continuing....

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πŸ“Œ Best Funny quote of the day

πŸ‘‡Quote Of The Day ….
The last drop of urine doesn't obey the law of gravity unless u shake it well !!😎

- Isaac Newton's room mate…..continuing....

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πŸ“Œ The journey is so short

A young lady sat in a public transport: an old grumpy lady came and sat by her as she bumped into her with her numerous bags. The other neighbor got upset, asking the young lady why she did not protest and insist on her rights: she responded with a smile: "It is not necessary to be rude or argue over something so insignificant!' I'll alight at the next stop, replied the young lady"…..continuing....

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πŸ“Œ Difference of men and women at their age

Women are fickle minded.At 18, they want handsome men.At 25, they want matured men.At 30, they want successful men.At 40, they want established men.At 50 ,they want faithful men…..continuing....

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πŸ“Œ Dress proper ladies

Two young ladies arrived in a Meeting wearing clothes that were quite revealing their body parts. Here is what the Chairman told them: He took a good look at them and made them sit. Then he said something that, they might never forget in their life. He looked at them straight in the eyes and said; "ladies, everything that God mande valuable in this world is well covered and hardly to see, find or get…..continuing....

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πŸ“Œ Mathematicians view of life

Mathematicians say LIFE is like a line segment drawn from point B to point D…..continuing....

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πŸ“Œ Things are always not they seem

🌽🌽THINGS ARE NOT ALWAYS WHAT THEY SEEM
A guy met one of his school mates several years after school and he could not believe his eyes; his friend was driving one of the latest sleek Mercedes Benz cars. He went home feeling awful and very disappointed in himself. He thought he was a failure.
🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽
What he didn't know was that his friend was a driver and had been sent on an errand with his boss's car!
🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽
Rosemary nagged her husband always for not being romantic. She accused him of not getting down to open the car door for her as her friend Jane's husband did when he dropped her off at work.
🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽
What Rosemary didn't know was that Jane's husband's car had a faulty door that could only be opened from the outside!
🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽
Sampson's wife went to visit one of her long time friends and was very troubled for seeing the 3 lovely children of her friend playing around. Her problem was that she had only one child and have been struggling to conceive for the past five years.
🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽
What she didn't know was that one of those children who was the biological child of her friend had sickle cell and had just a year to live; the other two are adopted!
🌽Life does not have a universal measuring tool; so create yours and use it.
🌽Looking at people and comparing yourself with them will not make you better but bitter.
🌽If you knew the sort of load the camel carries, you wouldn't ask why it takes those gentle strides.
🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽
So be thankful to God for what you have and enjoy it. You never know, someone may earnestly be praying for what you don't appreciate but take for granted.
🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽
GOD BLESS US WITH MUCH MORE AS WE APPRECIATE WHAT WE ALREADY HAVEπŸ™….continuing....

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πŸ“Œ A letter from an aborted child

A LETTER FROM AN ABORTED CHILD
Dear Mum,
I have decided to talk to you to let you know my
feelings. I want to know why you did it. My story
is short. I stayed inside you for only a couple of
weeks. I was very comfortable and warm. I felt
really protected. I knew you were a special
person because you never stopped me from
eating the food you ate. I longed for the day I
would see your face. Nine months was a long
time to wait, but I was determined to wait. I had
to be patient.
A man then offered you some amount of money to
get rid of me. I was happy and prayed that this
meant that I would at least see you, the only
person that I knew in the world. I was wrong. I had
almost forgotten the issues until I felt something
sharp pierce my tiny ear. I jerked silently and in
pain, and asked you to protect me. Seconds later
the object came,fiercer than before. My tiny body
was cut up, starting from the ears then arms and
legs. It was an agonizing experience. My head was
then cut off and I died.
It took me a whole hour to die. A whole hour for
an innocent few weeks human being to be
murdered by you! I remember the whole incident
vividly and I keep asking myself what I did to
deserve that cruel death. Why me? Why did you
do that to me? And why was I not given a
chance to live just like they children you hear
playing around? How do you feel when you send
some of them on errands when I could have done
that with pride if you had given me the chance to
live? Don't you see the beauty in playing with a
child that calls you mom with a sweet soft voice?
I know you are having a lot of nightmares. You
remain guilty for the beastly act. Please explain
to God why you committed the heinous act. He
sent me to you as a very special gift. My purpose
was to make you proud by being the great
person God meant me to be. I have forgiven you
though I never lived to see your face. My journey
back to my creator was safe, and I arrived
safely. I was given a red-carpet welcome by an
angel. I am in fact without bitterness. I still love
you, mum.
Yours Never-seen child.
If you are touched, join the "STOP ABORTION"
campaign by sharing this post with your friends.
…. STOP ABORTION !!!…..continuing....

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πŸ“Œ Forms of Business Structure

There are several legal forms to choose from when selecting the best means of structuring your business. Carefully considering the various options before start may save time and money later. There are several forms of business structures including:….continuing....

πŸ‘continue to read about πŸ‘‰Forms of Business Structureβœ”

πŸ“Œ Developing Business Ideas and Opportunities

You may have considered the prospect of starting your own business many times before. The thought of being your own boss – calling the shots, being responsible for your own financial rewards – is very alluring. You may have had the drive, the experience, and the financial resources necessary to succeed. The only thing stopping you were figuring out what type of business you should start…..continuing....

πŸ‘continue to read about πŸ‘‰Developing Business Ideas and Opportunitiesβœ”

.

πŸ“° Recent PostsπŸ‘‡

A Forms of Business Structure

There are several legal forms to choose from when selecting the best means of structuring your business. Carefully considering the various options before start may save time and money later. There are several forms of business structures including:….continuing....

πŸ‘continue to read about πŸ‘‰Forms of Business Structureβœ”

A STORY: King and young boys

An aging King realized that if he died he has no one to take over the throne. He decided to adopt a son…..continuing....

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A Who is the Catholic Church

Before 1517, every Christian was Catholic. As such, today we know that:
If you are Lutheran then your Church was founded by Fr Martin Luther in Germany in 1517.
If you are Menonite, your Church was founded by Grebel, Mantz and Blaurock, in 1525…..continuing....

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A Avoid a bad Marriage

AVOIDING A BAD MARRIAGE.
By Pastor Chris Oyakhilome PhD…..continuing....

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A Advice for knowledge

Advice just for knowledge…..
1. Have a firm handshake.
2. Look people in the eye.
3. Sing in the shower.
4. Own a great stereo system.
5. If in a fight, hit first and hit hard.
6. Keep secrets.
7. Never give up on anybody. Miracles happen
everyday.
8. Always accept an outstretched hand.
9. Be brave. Even if you're not, pretend to be. No
one can tell the difference.
10. Whistle.
11. Avoid sarcastic remarks.
12. Choose your life's mate carefully. From this
one decision will come 90 per cent of all your
happiness or misery.
13. Make it a habit to do nice things for people
who will never find out.
14. Lend only those books you never care to see
again.
15. Never deprive someone of hope; it might be
all that they have.
16. When playing games with children, let them
win.
17. Give people a second chance, but not a third.
18. Be romantic.
19. Become the most positive and enthusiastic
person you know.
20. Loosen up. Relax. Except for rare life-and-
death matters, nothing is as important as it first
seems.
21. Don't allow the phone to interrupt important
moments. It's there for our convenience, not the
caller's.
22. Be a good loser.
23. Be a good winner.
24. Think twice before burdening a friend with a
secret.
25. When someone hugs you, let them be the first
to let go.
26. Be modest. A lot was accomplished before
you were born.
27. Keep it simple.
28. Beware of the person who has nothing to
lose.
29. Don't burn bridges. You'll be surprised how
many times you have to cross the same river.
30. Live your life so that your epitaph could read,
No Regrets
31. Be bold and courageous. When you look back
on life, you'll regret the things you didn't do
more than the ones you did.
32. Never waste an opportunity to tell someone
you love them.
33. Remember no one makes it alone. Have a
grateful heart and be quick to acknowledge those
who helped you.
34. Take charge of your attitude. Don't let
someone else choose it for you.
35. Visit friends and relatives when they are in
hospital; you need only stay a few minutes.
36. Begin each day with some of your favourite
music.
37. Once in a while, take the scenic route.
38. Send a lot of Valentine cards. Sign them,
'Someone who thinks you're terrific.'
39. Answer the phone with enthusiasm and energy in your voice.
40. Keep a note pad and pencil on your bed-side
table. Million-dollar ideas sometimes strike at 3
a.m.
41. Show respect for everyone who works for a
living, regardless of how trivial their job.
42. Send your loved ones flowers. Think of a
reason later.
43. Make someone's day by paying the toll for
the person in the car behind you.
44. Become someone's hero.
45. Marry only for love.
46. Count your blessings.
47. Compliment the meal when you're a guest in
someone's home.
48. Wave at the children on a school bus.
49. Remember that 80 per cent of the success in
any job is based on your ability to deal with
people.
50. Don't expect life to be fair…..continuing....

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A The journey is so short

A young lady sat in a public transport: an old grumpy lady came and sat by her as she bumped into her with her numerous bags. The other neighbor got upset, asking the young lady why she did not protest and insist on her rights: she responded with a smile: "It is not necessary to be rude or argue over something so insignificant!' I'll alight at the next stop, replied the young lady"…..continuing....

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A STORY: Keep my shirt clean

Two guys were drinking in a bar.
As they were drinking, they started arguing, one guy pounce on his friend and started
beating him.
.
After a long beating he realised that his friend was no longer breathing, he already died instantly.
Then the guy started running with his
shirt full of blood.Those who were
watching the fight started chasing him.
.
He ran to the house of a Christian man, knocked and said,
"Can u please hide me, i have killed a person and people are chasing me."
.
The Christian man replied ,
"Where am i going to hide you in my one room
apartment?"
The muderer said "There is no time to
waste here, just think of anywhere you
can hide me."
.
After a long thinking, the Christian man
said to the murderer,
"Give me your shirt and take my shirt but remember to keep my shirt clean"
They exchanged their shirts.Then as
soon as the Christian man opened the
door, people started beating him and
was badly injured that he was taken to
the police station.
From police station, the case was taken
to court and the man was found guilty of
murder and was sentenced to death.
.
The real murderer was safe at home but
was feeling so guilty that he ran to the
Court and said,
"Can you please release that innocent man, am the real murderer".
.
The judge replied "unfortunately it's too
late, the man is already hanged at last".
He ran to the police where the man was
hanged and for sure he
found him dead hanging.
.
He knelt down and cried his eyes out and said to himself, " You paid for my crime"
He remembered the Christian's last
words:
"KEEP MY SHIRT CLEAN !!!"
That's how the murderer repented and
became a christian!
.
MORAL OF THE STORY ;
This is what Jesus did for us. He died for
the crime he did not commit on the cross of Calvary.
Now if you are thankful with what Jesus
did for you, Appreciate Him by just sharing
πŸ™πŸ»πŸ™πŸ»πŸ’’πŸ™πŸ»πŸ™πŸ»….continuing....

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A What our children and today's generation needs to know

When the ancient Chinese decided to live in peace, they made the great wall of China, They thought no one can climb it due to its height. During the first 100 year of its existence, the Chinese were invaded thrice … and every time, the enemy had no need of penetrating or climbing over the wall… because each time they bribed the guards and came through the doors…..continuing....

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A The will to win

The will to win, the desire to succeed, the urge to reach your full potential… these are the keys that will unlock the door to personal excellence.….continuing....

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A Where you wait for the bus 🚌 doesn't matter but your relationship with driver does

There's an old story of the boy who stood on a sidewalk, waiting for a bus. A man walking by spotted the boy and gave him some gentle instruction. "Son," he said, "if you're waiting for the bus you need to move to the street corner. That's where the bus stops for passengers."….continuing....

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A Which kind of witchcraft should I use?

People smoke and drink for a few days and get addicted to it…..continuing....

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A The Blessings of disappointment

I was pondering about life, I discovered that: Sometimes, to succeed in life you need ENEMIES…. Yes!!!….continuing....

πŸ‘continue to read about πŸ‘‰The Blessings of disappointmentβœ”

A Where to look for business opportunities

(1) They can develop/evolve as a result of your personal background including your previous jobs, hobbies and personal experiences, or
(2) From opportunities in the external environment or general market place….continuing....

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A Interesting story for new year

Ezra and Thomas joined a company together a few months after their graduation from university.

After a few years of work, their Manager promoted Ezra to a position of Senior Sales Manager, but Thomas remained in his entry level Junior Sales Officer position.

Thomas developed a sense of jealousy and disgruntlement, but continued working anyway.

One day Thomas felt that he could not work with Ezra anymore.

He wrote his resignation letter, but before he submitted it to the Manager, he complained that Management did not value hard working staff, but only promoted only the favoured!

The Manager knew that Ezra worked very hard for the years he had spent at the company; even harder than Thomas and therefore he deserved the promotion.

So in order to help Thomas to realize this, the Manager gave Thomas a task.

β€œGo and find out if anyone is selling water melons in town?”

Thomas returned and said, "yes there is someone!"

The Manager asked, "how much per kg?"

Thomas drove back to town to ask and then returned to inform the Manager; "they are 13.50 per kg!"

The Manager told Thomas,

"I will give Ezra the same task that I gave you. Please pay close attention to his response!"

So the Manager said to Ezra, in the presence of Thomas;

β€œGo and find out if anyone is selling water melons in town?”

Ezra went to find out and on his return he said:

"Manager, there is only one person selling water melons in the whole town.

The cost is 49.00 each water melon and 32.50 for a half melon.

He sells them at 13.50 per kg when sliced. He has in his stock 93 melons, each one weighing about 7kg.

He has a farm and can supply us with melons for the next 4 months at a rate of 102 melons per day at 27.00 per melon; this includes delivery.

The melons appear fresh and red with good quality, and they taste better than the ones we sold last year.

He has his own slicing machine and is willing to slice for us free of charge.

We need to strike a deal with him before 10am tomorrow and we will be sure of beating last year's profits in melons by 223 000.00.

This will contribute positively to our overall performance as it will add a minimum of 3.78% to our current overall sales target.

I have put this information down in writing and is available on spreadsheet.
Please let me know if you need it as I can send it to you in fifteen minutes."

Thomas was very impressed and realized the difference between himself and Ezra.
He decided not to resign but to learn from Ezra…..continuing....

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A Things are always not they seem

🌽🌽THINGS ARE NOT ALWAYS WHAT THEY SEEM
A guy met one of his school mates several years after school and he could not believe his eyes; his friend was driving one of the latest sleek Mercedes Benz cars. He went home feeling awful and very disappointed in himself. He thought he was a failure.
🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽
What he didn't know was that his friend was a driver and had been sent on an errand with his boss's car!
🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽
Rosemary nagged her husband always for not being romantic. She accused him of not getting down to open the car door for her as her friend Jane's husband did when he dropped her off at work.
🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽
What Rosemary didn't know was that Jane's husband's car had a faulty door that could only be opened from the outside!
🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽
Sampson's wife went to visit one of her long time friends and was very troubled for seeing the 3 lovely children of her friend playing around. Her problem was that she had only one child and have been struggling to conceive for the past five years.
🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽
What she didn't know was that one of those children who was the biological child of her friend had sickle cell and had just a year to live; the other two are adopted!
🌽Life does not have a universal measuring tool; so create yours and use it.
🌽Looking at people and comparing yourself with them will not make you better but bitter.
🌽If you knew the sort of load the camel carries, you wouldn't ask why it takes those gentle strides.
🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽
So be thankful to God for what you have and enjoy it. You never know, someone may earnestly be praying for what you don't appreciate but take for granted.
🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽🌽
GOD BLESS US WITH MUCH MORE AS WE APPRECIATE WHAT WE ALREADY HAVEπŸ™….continuing....

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A Thanking God

πŸ‘πŸ‘THANKING GOD πŸ“–….continuing....

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.