Evaluating the Idea
The key to successful domestic and international venture creation is to develop an idea that solves a problem satisfying a need for a large market or adds extensive value to the product thereby increasing profit margins in a niche strategy. The result of the creativity and idea developed in Chapter 3 needs to be thought of in terms of satisfying a specific market need or, as one corporate entrepreneur stated, “Making the customer more profitable.”
What is deemed “profitable” varies by the product or service idea and particularly whether the idea is in the business-to-business market or the business-to-consumer market. The uniqueness of the idea, its competitive advantage, and the market size and characteristics can be determined ...
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