Business Concept Definition is the creative process involved in generating, developing and communicating a novel concept that has the potential of exploiting a new or untapped business opportunity in the market. I cold called EBC today and spoke to Sonja who was extremely generous with her time hearing me out with my situation. She was easy to understand, detailed and provided me with an action plan while at the same time providing support and alleviating some of my worries. She was very transparent in terms of fees and very responsive in terms of email communication. I’m new to the Pleasanton area, but if this is the service you receive I feel there’s no better place to take my business.
Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. If you’re social media savvy, you can offer your services to brands that want help managing their social media accounts on a daily basis. Setting up an online newsletter is fairly straightforward. And if you build up a sizeable network, you can use your list to sell products, services or earn revenue by working with other businesses.
How will you compete? What will be your business edge? How can you create a winning business model with an advantage? Like the Grateful Dead, the secret is to find a niche where you can be not necessarily the best but the only. Find out what everyone else is doing and then do something different. Your competitive advantage can be based on a unique skill, intellectual advantage, or by selling at an unusual time or location. The alternative to uniqueness is to be ordinary, and sell the same product at the same price as everyone else, making minimal profits if any at all.
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Or you can instead focus on growing your own social media accounts. And if you garner enough influence within your network, you can build a business as an influencer that works with brands to promote products and services on your account. With the blend strategy you are literally taking the best parts of two different business ideas and merging them together to create a new concept that people are going to sit up and notice.