admin Great Small Business Ideas to Start: Increasing accessibility By offering flexible opening hours, businesses can differentiate themselves and attract customers with varying lifestyles. The idea As society changes, lifestyles have developed and diversified. An increasing demand for convenience and freedom has overtaken the market in recent years, providing competitive advantage for corporations that cater to … Read more
Great Small Business Ideas to Start: Being spaces Creating places where people want to be—whether to socialize, relax, or simply carry out everyday activities such as reading or working—can become a profitable product. The idea At first glance, this concept appears similar to “brand spaces.” However, there is a crucial difference: “being spaces” make the … Read more
Great Small Business Ideas to Start: Social networking and transmitting company values Regular meetings of key employees from different areas of the company will increase learning, improve strategy, remove boundaries, and increase group productivity. The improved “transparency” that results will make it easier to identify crucial areas of strength and weakness. The idea General Electric’s … Read more
Great Small Business Ideas to Start: Leading “top-down” innovation Direct action should be taken by senior management to harness the knowledge and ideas of employees to ensure consistent and high-quality innovation. The idea The word “innovation” conjures up the image of a process that is spontaneous, unpredictable, and unmanageable. The innovation literature abounds with stories … Read more
Great Small Business Ideas to Start: Mass customization Large-scale information gathering and storing enables the provision of a high-quality, personalized service for each client. By adding value to your product, you can shut out competitors and ensure repeat business. The idea By applying information technology effectively, and training all of its employees to use information, … Read more
Great Small Business Ideas to Start: Understanding demography The world is changing fast, and one of the greatest changes in human history has taken place without many of us even noticing—the changes that result from demographic developments. Understanding these changes can provide a secure foundation as well as significant business opportunities. The idea The idea … Read more
Great Small Business Ideas to Start: Psychographic profiling To improve sales efficiency, customers can be divided into “groups” according to their personal needs and preferences; new customers can then be assessed and assigned to the appropriate group. This profiling combines psychological and demographic groupings— hence the term “psychographic.” This enables the business to cater to … Read more
Great Small Business Ideas to Start: Customer bonding As business competition becomes increasingly fierce, firms should not only focus on attracting new customers, they should also use rewards to retain existing clients and get more out of them, which will also attract more clients. The idea Many industries are characterized by the fight not only … Read more
Great Small Business Ideas to Start: Eliminating waste (muda) In the rush to focus on revenue, many businesses forget to consider the importance of business process and the effects of waste. Put another way, businesses that strive to remain streamlined and well organized have a significant advantage over those that lack efficiency. The idea For … Read more
Great Small Business Ideas to Start: Franchising By selling a brand, a business plan, and expertise to regional business owners, corporations can increase profits and gain a global reach without significantly increasing risk. The idea The number and variety of franchises is large, and is a technique employed by companies ranging from McDonald’s fast food … Read more
