Business generating ideas perfomormance no.1 TLE

earning money or planning a business is not an easy task to do,you should went through trial and error to succeed. you will need a knowledge to become a succesful entrepreneur, asses yourself and try to determine your strong PECs and the PECs that you should develop to be a succesful entrepreneur.

in selling your product, you must assure that your work is of good quality, focus on process, not people.

every employee comes to work to do a good job. you must deal with other people's personalities,

be a good example to your team members and be updated to the latest trends in the industry.

ENTREPRENEURSHIP is the process of planning,implementing,and running a business. the person

who plans,manages, and runs the business is called entrepreneur. 

to become a succesful entrepreneur, you must follow the key attributes to become effective entrepreneur.

1.HARDWORKING- it is the ability of an entrepreneur to work deligently. Hardworking  entrepreneurs work without requiring supervision.

2.CONFIDENT- this pertains to the ability of the entrepreneur to have self-reliance on his or her own abilities,knowledge and judgement.

3.DISCIPLINED- this refers to ones time and resources properly and consistently so that the business generate income.

4.COMITTED- this is the ability of the entrepreneur to asume full resposibility of the business

5.DYNAMIC- business dynamic process that changes along with the changing times.

6.CREATIVE- in order to conform to the dynamic industry,entrepreneurs should be creative and innovative.

7.INITIATIVE- this refers to the ability and willingness to do tasks and duties without being to do so.

8.RISK TAKER- being risk taker means having the willingness to do certain things even when there are accompanying risks or dangers.

An entrepreneur , like the leader of a community, must look at the needs and wants of every person in the locality.

One of the best ways in evaluating opportunities and challenges is to conduct a pestel analysis.

PRODUCT DEVELOPMENT refers to the process of creating a new product to be sold to customers.

GENERATING BUSINESS IDEAS

a business is a dynamic, and it changes with the changing times. thus, having dynamic business ideas is imperative to become succesful entrepreneur. As time changes people also change their fasion,their life style, and their taste.

KEY AND CONCEPTS IN GENERATING BUSINESS IDEAS

1.INVENTIONS- it refers to the generation of business ideas that is often novel or untried

2.EXTENSION- it is the innovation of already existing business ideas.

3.DUPLICATION- it is replecating an existing business idea with an additional creative touch to enhance and improve the original concept.

4.SYNTHESIS- it is the combination of existing ideas that concepts into a new formula.

PRODUCT DEVELOPMENT refers to the process of creating a new product to be sold to the customers.

SCREENING BUSINESS IDEAS 

after you have identified different business opportunities, you can then decide which business opportunity is best relative to your expertise and interest.

You need to screen your ideas to trim them down into just few choices.

then from these choices, pick the last two options.

Finally, from these last two options, choose what you think is the best business idea and then pursue it accordingly.