Business idea

 

business idea 

A is a concept that can be used for financial gain that is usually centered on a product or service that can be offered for money. An idea is the first milestone in the process of building a successful business.

The characteristics of a promising business idea are:

• Innovative
• Unique
• Problem solving
• Profitable
• understandable

A business idea is often linked to its creator who needs to identify the business'  in order to launch to market and establis 

A business idea is the first spark of Entrepreneurship.

 

A value proposition is a promise of value to be delivered, communicated, and acknowledged. It is also a belief from the customer about how value (benefit) will be delivered, experienced and acquired. [1] It is a prospectus of a company that gives the customer the reason to choose their product or service. In other words, it convinces the leads by stating who you are and what they can enjoy from you. It shows your company's worth. Eg. Shopify calls itself a single-stop platform, all types of work can be done in one single platform.

 A value proposition can apply to an entire organization, or parts thereof, or customer accounts, or products or services.

 Creating a value proposition is a part of business strategy. Kaplan and Norton say "Strategy is based on a differentiated customer value proposition. Satisfying customers is the source of sustainable value creation.

 

 Developing a value proposition is based on a review and analysis of the benefits, costs, and value that an organization can deliver to its customers, prospective customers, and other constituent groups within and outside the organization.