How to Recognize a Winning Business Idea

What’s most important with a business idea is to identify your target market and become as familiar with your potential clients as possible. “If you’re looking to sell to the high-end, luxury market, your product or service may be something that people might think of as indulging a sin. Just make sure your marketing matches your target market,” Shaw says.

Published

13 years ago

February 9, 2012

BusinesSuiteOnline

Which are the best business ideas: those that tap into our seven deadly sins, or those that fix a pain or solve a problem? —C.C., New York

The answer to your question depends on details such as your target market, production costs, and price point. For instance, take tax planning vs. wealth management. One is an essential service that sells at high volume to a wide audience, but at a price that can approach that of a commodity. The other sells to a smaller niche, but appeals to customers willing and able to pay more.

Another concept to mull is that wants and needs may not be so far apart. Indulging one’s greed or pride may be the flip side of solving a problem or stopping a pain, says Peter Sheahan, chief executive officer of ChangeLabs, an Australian business consulting firm with U.S. headquarters in Denver. “The problem is the pain,” he says, “and the pain is we want more of our seven deadly sins. All human desire comes from a form of dissonance—dissonance just being a fancy word for a gap, and a gap just being a metaphor for the space between where we are now and where we want to be.”

Traditionally, business ideas that solve problems seem to be most effective, although sometimes a new product or service solves a problem that people aren’t consciously aware of until they see the solution. Still, if you can identify the problem in a compelling fashion, your message may be easier to get across.

More go to

http://www.businessweek.com/small-business/recognize-a-winning-business-idea-11292011.html

John Mahfood “I Listed on the JSE to Raise Capital for My Business”

Published

8 years ago

November 24, 2016

Managing Editor

JSE Online Trading Platform

Published

8 years ago

November 24, 2016

Managing Editor

Grace Stockholders To Vote On 3-for-1 Stock Split Today

Published

9 years ago

July 11, 2016

BusinesSuiteOnline

Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

UK Loses S&P Triple A Rating

Published

9 years ago

June 27, 2016

BusinesSuiteOnline

The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

Published

9 years ago

June 27, 2016

BusinesSuiteOnline

Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.