WORKING ON YOUR BUSINESS

A NOTE FROM OUR BUSINESS ADVISOR:
JANET CRESSWELL

If you’ve been to any business networking meetings, you may have come across the phrases ‘Think outside the box’ and ‘Blue Sky Thinking’, when people are trying to come up with good business ideas.
I was reminded of this in one of my 1 to 1 sessions, where we were talking about what makes a good business idea.

WHAT MAKES A GOOD BUSINESS IDEA?
Good businesses do not arrive out of the Blue Sky, they come from passion, determination, a bit of luck and a good idea.  The Good Idea can be anything, but what they all have in common is the connection to you, as the entrepreneur and business woman. And those Good Ideas are thought of because they solve a problem that you have or have observed.

SO, HERE IS A TIN OPENER!

What came first, the tin or the tin opener? The tin can was invented in the early 1800’s, and originally, they were so thick they had to be hammered open. The tin can was patented in 1810 as a way to preserve food (solving a problem). It wasn’t until 1858 that the tin opener was invented. This solved the problem of opening cans safely and easily while keeping all the contents inside the tin! You may have seen old films where cans are opened by sticking a knife through the lid? The tin opener uses that idea to run a blade around the edge of the can and originally were a blade which would puncture the can and then using a lever action against the rim, cut around the lid

Over the years, entrepreneurs have improved on the basic tin opener, making them easier and more comfortable to use or combining other features such as bottle and jar openers, or making them electric.

But now, tins are becoming almost always ring pull, doing away with the need for the tin opener. So what is the future for this kitchen gadget and the company that makes them?

SPOTTING TRENDS
This reminds me of yet another conversation about spotting trends. A good business owner will have seen the development in tin cans and will be making another product for the kitchen instead of tin openers! Maybe an easy way to pull the ring without stopping the contents and an emergency cutter for when the ring pull fails. None of this is Thinking Outside the Box. This is all about thinking about what can be changed, substituted, added too or combined with something else to make a better product.

And the same works for all entrepreneurs and is what gives your product or service it’s unique selling point.
YOUR BUSINESS IDEA
Have a close look at your business idea. What problem does it solve? What have you done and what can you do to give your business a unique selling point. And as your business starts to trade, keep looking for those changes you can make to be ahead of trends.

Don’t make tin openers, even though they are still useful 🙂

FURTHER SUPPORT
If you would like support with developing your business ideas further, please get in touch and we can arrange a one-to-one business advice appointment.

Back next time with some more tips for great businesses! Janet x

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