By | September 1, 2019

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Write your new concept down on paper. Outline all the ideas such as the markets you will serve, product features or services, and prices. Develop a proposed customer profile that includes the demographic groups you want to target. Plan to target men 35 to 64 years old, with incomes more than $50,000 per year, for example, for a new premium line of men’s business suits. Add your concept to your business plan.

How many times have you thought about coming up with a business concept that could roll in the millions for eternity? We all strive for that one moment of inspiration that could revolutionise an industry or create a new industry altogether. Entrepreneurs across generations have often come up with concepts that have become wildly successful and might have made you marvel at the basic concept of the business. Sometimes they are ridiculously simple while some are inspired from life lessons, but over the years entrepreneurs have come up with hundreds of business concepts that are now studied in business schools. Here’s a look at 10 of the greatest.

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