It's A Good Idea To Have Renters Insurance In Case...

Great business opportunities fill a constant need – they offer something new or different, and most importantly, you can earn money and grow your business.

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It’s A Good Idea To Have Renters Insurance In Case…

You can come when you’re working late, commute to the office or can’t sleep at 2am, but don’t forget the great feeling that comes when you think you’ve just arrived. with a great business idea – a ‘game changer’.

Sure Signs That You Have A Great Business Idea

The question is, how do you know if it’s as good as you think? In the words of business authors Edward Hess and Charles Goetz, you can tell the difference between a good business idea and a good company.

? Good ideas are exciting, but good opportunities are scalable. These are hands-on plans with a customer base you can access and build.

In January this year, new UAE legislation was passed to expand the role of venture capitalists already playing a key role in starting small businesses in the UAE. But how would you convince them that your idea is great?

Trust is a good start, so here are the top five signs your idea is great.

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1. Solves the problem. Chindogu, the Japanese art of inventing clever, often very complex gadgets to deal with everyday difficulties, can be seen as ‘problem solving’. But it’s a good clue as to what exactly it is

Because solving a problem means providing a solution that makes life easier for many people. The problem doesn’t have to be a problem that no one is dealing with, it may as well be a problem that no one is dealing with effectively. Virgin CEO Richard Branson said: ‘Very few companies actually invent a market for their products and services. However, many continue to reinvent markets by filling in the gaps with attractive offers.”

Take Uber, the app-based taxi service that revolutionized the way we get from point A to point B. In the 17th century, you could find horse-drawn carriages for private hire on the streets of London and Paris. Most importantly, the way they were recruited remained the same for the next hundred years.

What Travis Kalanick and Garrett Camp discovered in 2008 was an easier route, as fate would have it, one snowy afternoon in Paris. They saw the possibility of using new technology (smartphones) to provide a new and effective solution to an existing problem. At the heart of their business model is a problem that people all over the world face every day. Uber operates in 524 cities with over a billion connections.

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2. It is scalable SMEs are large EAC companies. But if they want to grow in the future, it is necessary to understand and guarantee ‘scalability’.

Scalability is your company’s potential for development and application in an ever-growing market. Whether it’s truly ready to scale depends on how you factor that into your business plan, and investors will likely be looking for both potentials.

Will Ultimately, the return on investment comes from the ability of these investments to grow and prosper in the coming years. Can you scale your idea, make it flexible and sustainable, monetize it, and rebuild it as needed?

As the founder of Garson Claxton LLC states, “Scalability is a mindset. It is about making consistent decisions that create bridges, not barriers to development.” Truly scalable ideas are low cost, high profit models. The gold standard here is Facebook, a platform used by 1.86 billion people worldwide.

Boy Coming Up With A Good Idea Royalty Free Svg, Cliparts, Vectors, And Stock Illustration. Image 16511101

But that wasn’t always the case. In 2004, Mark Zuckerberg and his college roommates launched ‘Facemash’ for Harvard students. When it was successful, it spread to Columbia, Stanford and Yale universities, and over time to universities in the US and Canada. It wasn’t until 2006 that Facebook as we know it was available to the world, and it wasn’t until 2012 that it was opened to advertising. It is now worth approximately $321 billion.

All ideas start small. They achieve scalability by understanding the potential, understanding how an idea can grow, and planning ahead.

3. You can sell it at a great price and make a good profit Finding the right price for the goods or services you offer is crucial because whether it’s a good idea or how it solves the problem, even if the price is not right. people won’t buy it.

James Dyson reinvented vacuum cleaners in the early 1990s after many years of prototyping. By 1995, the Dyson DC01 was the best-selling vacuum cleaner in the UK. According to

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Dyson is now worth $4.2 billion, but he wasn’t always right. In 2000, he launched his ‘Contrarotator’ washing machine. Revolutionary in every respect, the washing machine has found a way to solve the existing problem more effectively. Unfortunately, it missed the mark from a price point of view. After covering the high production costs, the washing machine sold for £1,200, significantly more than any other machine on the market at the time.

Even at that price, the company lost money and closed in 2005. Reflecting on what he calls an ‘educational failure,’ Dyson himself said

: “She was very successful as a washing machine. Not as a company. We created a washing machine that was too expensive; contained too much technology.’

Make sure understanding your brand flows through your planning. Make sure you can grow your offering and bring it to market at a price that makes sense for both your profit margin and the customer.

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4. It’s not easy to copy Coming up with something truly unique is hard enough, but keeping it that way is even harder when others hear it. There are many cases of companies being sued for similar products and services, be it smartphones, taxis or vacuum cleaners, and while some of them have almost completely taken over the market, it is often the result of sharp strategic moves. Microsoft’s ubiquity can largely be attributed to the historic 1980 deal, when Bill Gates’ operating system was bundled with all new IBM PCs, leaving the software free to sell to other manufacturers as well.

While it may seem tempting to make your idea one-of-a-kind, there are steps you can take to make it harder to copy. They inevitably rely on the adoption of legal preventive measures. The good news for companies operating in the UAE is that since 2010, the ‘Takamul’ innovation support program has been helping small (eligible) companies with big ideas through the long and expensive patent application process.

Like patents, copyright is also used to protect intellectual property. The difference is that applying for a patent requires your idea to have an ‘industrial application’ which focuses on tangible products – inventions. On the other hand, copyright law requires that the work be ‘original/creative, in the field of literature, art or science and expressed’. The ‘expressed’ part is important, you can’t just copyright the brainwave.

5. Trust your intuition, but not at the expense of yourself: Finally, one of the keys to new ideas is being honest with yourself. If you have a flash of inspiration followed by nagging doubts, it’s easy to dismiss them because they don’t fit your preferred version of events. You have to be honest. Belief is important, but blind belief is dangerous.

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If you don’t trust yourself, try sending it to other people. Explain your idea in one sentence and see how they react. Einstein’s apocryphal quote – if you can’t explain it to a six-year-old, you don’t understand it yourself – applies here. If the other person looks surprised, they may need to think again. After all, this person could be a potential customer, and their reaction will help you judge whether you have a real business opportunity or just an idea.

Steve Jobs, in his commencement address at Stanford University in 2005, said, ‘Your job will fill a large part of your life, and the only way to be truly happy is to do what you think is great work.’ However, the satisfaction of doing a great job means being open to feedback, even if it’s negative. That doesn’t necessarily mean the idea isn’t winning, but it does mean you can look at yourself from that perspective to iron out the flaws in your plan before you bring it to market.

Like a heavyweight boxer looking for the big punch, it’s unrealistic to expect a perfect idea to arrive fully formed and catapult it to instant success. Even with the best odds, you must dodge, weave and regroup along the way.

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I Have An Good Idea Emoji. Emotion Of Happiness. Emoticon With A Light Bulb Over His Head. Cartoon Style. Royalty Free Svg, Cliparts, Vectors, And Stock Illustration. Image 69948876

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