How to Generate a Business Idea for an Entrepreneur

How to Generate a Business Idea for an Entrepreneur

At present we see many entrepreneurs who want to generate business ideas, but the question is, is it really easy to create a business? Before you answer the above question you should have a clearer idea of ​​what you want to do. This article will be a quick guide to help the entrepreneur to focus, to land ideas, illusions and even his dreams.

To start with, some brief advice given by some authors of the project will be given, then one of the issues that generate more controversy and discontent, for some, the financing and thus finish with some questions that generate discussion in order to plan the deal.

From the inquiry and reflective analysis of how, where, when, what, is generated a questioning in order to give a form and shape the ideas that are, in this way, it is possible to identify if this illusion is Good or if it should be changed. Many authors recommend doing market research through surveys or other tools used in marketing, as this is considered to help focus on the business idea and have important bases. For other authors it is necessary to go beyond an investigation, they recommend the experience of successful entrepreneurs who managed to develop their idea.


It is important to keep in mind that not all business ideas are the same; each one has different agendas, actors, allies, etc., so not all methods to create a venture are the same. According to the above, the entrepreneur will take and use the most appropriate tools for his business idea. Given the market research and the experiences, the best decision should be taken to concretize your idea, to discard it or to innovate it, because you must ask what it takes to generate my business idea.

Financing is one of the most important issues in the process of forming a business. When the idea is clear, and the product or service to be sold, money is the next step to press and resolve. The Government, through its entities such as SENA, Compensation Banks, Universities, Private Sector Company and specialized banks in the subject of entrepreneurship, provide financial advice, which handles different credit lines such as: Seed Capital, SME Credits, Inversion Angeles and Young Entrepreneurs Program.

These financial services that are offered for the creation of business ideas sometimes have high interest rates, for the same condition of creation of company, for this the Colombian Government facilitates the obtaining of credits, from this appears the FNG (Fund National Guarantee); Which can cover between 50% or 70% of the debt and its term does not exceed 18 months. On the other hand, Organizations and Private Sectors offer calls for sustainable and innovative projects, financing the entire process of their business idea.

The entrepreneur to realize his business idea should ask the following questions:

  • What is my business idea?
  • What I need?
  • Where will my business be located?
  • What will be my potential market?
  • With what financial resources do I count?
  • What raw materials or supplies will I need?
  • What staff do I need?
  • The price of the product?
  • What distribution channels will you use?
  • What market strategy will you use?

By answering these questions, the entrepreneur will make the decision about the viability of his business idea. Some entrepreneurs take risks and carry out their project without measuring the consequences, sometimes they are triumphant and others fail, for some failure are opportunities that serve as an experience to improve or innovate in their ideas.

Other ways to generate business idea for entrepreneurs take advantage of the opportunities offered by the market, either by innovating an existing product, but for this, you must know very well the product or service that is in the market such as: The use, its customers, its benefits, knowing, this offers the market and its innovative idea.


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