Generate Brilliant Business Ideas.
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e-Book “Generate Business Ideas” by Biz joe, shares ways you can be able to
generate free business ideas. One of the ways pointed out is look out for
need among the populace or particular community. You may or not, be a part of it. It
could be a workplace, social place/event, domestic, name it. Any place that has
a gathering of sorts shall works well.
The Kisenyi
slums in Kampala, Uganda have had a dire need for power. A few guys appreciated
the problem (need) people have in the area is lighting (electricity). You shall
find that the formal power companies are not very keen on delivering power to
such areas due the high bill payment evasion. Aside of many illegal
connections, it is hard to make collections on even the legal ones. Collection
alone probably costs more than the service provided.
The people
need lighting but can either ill afford the bills or just do not believe they
should pay for what they can easily freeload.
The Business Idea Was Built Around
Need
These
persons cashed in on this situation and provided a means of lighting for the
peoples in the slum area of Kisenyi. Desperate
for lighting with and with limited budgets, called for innovation. Their idea is
budget friendly, and easy to install offering 24/7 light! What this means is he
earns himself a handsome package over time with the number of installations.
The investment required is minimal. The clientele is huge. Pricing is within customer’s
finances still allowing for a profit margin.
A piece of
mabati (iron sheet) about a foot square, 1.5Lt empty mineral water bottle, and
JIK the bleaching agent are the raw material and sealant. Silicon is the choice
element. A hardy product and is not affected by the weather and is waterproof
when it dries. All the above items are easy to access and readily available on
the market at any given time. The water bottles are scattered all over and both
environmental and health hazards. Apart of the silicon and JIK the rest of the
items are recycled helping protect the environment.
When generating
business ideas you have to factor several things. Among which are:
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| NEED... Social game of Pool. [Courtesy of Facebook] |
What is the market segment, Is there
a market?
The slums
are some of the most highly populated areas in any given community. Where you
have one slum, you are bound to have many others. They are a clientele that you
shall have for a long while. That is assuming government does not do something
about the slum. Even then, you shall have recouped your investments, hopefully.
This follows
the principle there should be a willing buyer and willing seller. Place to
sell or market your product or services for the business to profit.
Identify "NEED" and generate (build) a business
idea around it
The Kisenyi
dwellers were desperate for power. Those who live in well-lit environments can
tell how frustrating it is to live without electrical power. It changes everything about your life, just
the light aspect of it. All of a sudden, you have to go to sleep with the
chicken (early) because it is now dark. You cannot read, even chatting can be
dampened for lack of light. Life practically sucks switching off. So, is there
need? Yea, there is a great need!
Costing of the Business idea
generated or brainstormed
Ideas are a
dime a dozen (plenty) it is not so much the lack of them but practicality of
the idea. In our classic example, the problem is not power lacking. It is actually
available, just that it costs way more than the users are able (or are not
willing) to pay for. Meaning the alternative has to be within acceptable
margins? In our case study, it is well within range. Water added to the empty
transparent plastic bottle, a squirt of JIK bleaching agent added to the water.
This then placed into a hole cut specifically for it in the mabati (piece of iron
sheet) and sealed.
Another hole
cut in the roof of house, just enough to accommodate the bottle and sealed as
well. Having dried to the mabati sheet, the bottle is frim and can easily carry
the weight when placed on the roof. The reflection of sunlight through the mix
creates light in the room below.
Put together
these items would not exceed UGX 500; or KES 30; or USD 0.40; it cost less than a dollar to assemble this piece of ingenuity.
It is unlikely to price more than a dollar to set up, worst case 2 dollars and
you are good to go, this including setting up.
Return On Investment required (ROI)
What is the
return on investment on the business idea you have generated. You start a
Business for the major reason being profit. Other than, you are planning a
charity; profit is the point of
business. Moreover, unless a business returns a profit, it ceases else, it is
CHARITY. The case above shows a definite return on investment.
Assuming the
product goes for a dollar. The assembly goes for 40 US cents, maybe 10 cents
for installation, leaving 50 cents on the dollar. This fee for starters is well
within the slum budgets. They would pay with no complaints, and the product has
a lifespan of over 4 years. Quite a superb deal, you have a dollar for dollar
return here. 50 cents to every installation you do.
Is there any remedy cure of pain, or
pleasure introduced?
There is
plenty here to relate with, darkness
is subdued here, much as it is a 24/7 lighting with no on/off switch. Users can
find means to cover the light and create a semblance of darkness. They would
though prefer light to darkness for the former is the greater need and easier
to attain the later.
Delivery
from run-ins with bills collectors and power supply firms. This is a onetime
payment for a long service life. Who can argue with that? It also cuts their
expenses tremendously aside of offering healthier living. This too again brings
down their hospital bills in the same swoop.
Where do you find business ideas?
Business
ideas are all-over the place if you care to look. How do you find them may be
another story all together. The FREE e-Book “Generate Business Ideas” shall help you take the hassle out of the
process. The aim is not for you to come up with the next Guinness Record, no
sweat. All you need is a business for you. From the example, we have seen
above, all you need is a community with a need. Provide a solution, to that
perennial need and you probably have a business.
Brainstorm
what could be the futures next innovation.
The YouTube
Video was unfortunately taken down, it has been turned private; it would have
made for good viewing. You can access the link from within the article, in the
hope it is public again.
