• Home
  • BLOG

Innovation | The Secret Ingredient Of A Successful Business

Featured Image Innovation Startup Story Media

The best ideas are often the answer to a problem. For an innovator, a problem needs to be significant enough for the market to embrace its solution. Thus, innovation is a new value addition to your business which fills an untapped market need.

New product ideas stem out of keen observation of consumer sentiment, behaviour and market environment.

Startup Story Media has a few tips to share!

Mind map Startup Story

Step 1: Come up with an idea

Think like an entrepreneur. Brainstorming is the key here. Take a look around you – what do you see? Is there a task you can make easier or a product that fits a new consumer demand. You can also make an existing product which isn’t easily accessible, accessible!

Target Audience Startup

Step 2: Choose your customers

You can dabble into a novel consumer segment with an existing product or you can have an existing product made better for the consumers. You can also create a new product altogether in response to a market gap. Conducting consumer surveys and market research can help you in deciding which way to go.

Relevance of startup story

Step 3: Make it relevant

Make sure that your idea serves a purpose in order to sell. A product should bring satisfaction to the customers, they need to be better off with your product.

It is said that necessity is the mother of all inventions, so keep your eyes, ears and mind open. The next million-dollar idea might be just around the corner!

Leave a comment

Your email address will not be published. Required fields are marked *