In previous post, I have written about a business idea book. This book is something that will make you to be more effective when you want to come up with more and more quality business ideas. This book, also present a basis for next step – analysis and choosing the best business idea to start.
I’ve made one template for a business idea book that will help you to be more organized when you’re trying to choose the best business idea. You can look at this template here:
As you can see the template contain 6 different fields that you must fill out::
- The name of idea. Here you can place the name of the business idea that comes up in your brain. For example, Toys Shop. This name will differentiate this business idea from another one. You can have the second business idea as Web Toys Shop and so on.
- Description of the idea. One business idea is based on three questions – Which, What, How. First level of a business idea is which business you want to start. This can be retailing, wholesale, manufacturing, consulting, and so on. Second level of a business idea is about subject of the business. What you will sell. And third level of a business idea is how you will sell that products or services. Briefly answer on this question and place that answers into the form. For example, The business idea is starting retail store that will sell the best toys on the planet and will provide free shipping to home for every child.
- Current market practice. In this field, you must take some considerations about market that will be covered with this business idea. You don’t must make big analysis to complete this field but simply answer on some questions about the target market and main competitors. The purpose of this field is to have some basic directions for market research if you choose this business idea.
- Future activities. In this field give some next step if you plan something about this business idea. This will make you more focused of the next task about each business idea that you will choose for the next level of a business startup process. You can leave this field blank, but if the next field – possibilities of realization are great I recommend to fill this field.
- Possibilities of realization. This is one combo box where you can choose three options: great, medium and low possibilities. Think about possibilities of realization of these business ideas. You can have business ideas that have low possibilities to start because of money that is needed for that startup. Don’t fill with great possibilities if you cannot start that business in some real period of time.
- Quality of idea. This field will tell you what business ideas must be improved before you go with future consideration. You can choose three different options: great, medium, lower quality of that business idea.
You can download this template from here.
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