Many books have been written about the different ways of coming up with business ideas. But there is no book I know that talks about the ingredients of a great business idea. In this article I will explain the elements that make up a great business idea.  Continue reading →

The startup is a phase in the business life cycle which has its own characteristics different from the other phases. In a startup, practically everything is unknown; the market, business model, product-market fit, etc. are all unpredictable. This is  because the business, brand, people, and services are new and without a “business model”. So predicting, researching hypothetical customers and creating a business plan  are of very little help to ensure the success of a startup.  Therefore a startup should look for patterns in the market behavior  and  uncover a business model that can be duplicated for growth. Continue reading →

It is a fact that Christmas is the season for giving and spending. But for me, Christmas is also the best season to start a venture. There is one good reason why you should start a business this Christmas and the reason is this: People have the money and willingness to spend, so you are most likely to earn if you satisfy their needs. So what are you going to offer?

In this article I will talk about the most in demand products which you can use as the source of your inspiration for your idea. I have limited the ideas to those that are easy to do, meaning, you can start them from your house and utilizing minimal capital.

Here are the fastest selling items or services every Christmas: Continue reading →

The biggest challenge for a new entrepreneur is always the money to start a business. In all the aspiring entrepreneurs I have spoken, around 90% of them think that the reason they cannot start a business is because they do not have enough capital. Capital can mean many things. It can mean money, product, ideas or skills. For this article, the focus will be on the first two I mentioned (more on sources of money or cash) One of the goals of Innove is to make entrepreneurship simple so everyone can do it. Part of making it easy to do is to provide different sources where one can get money to start a business. Now, it will just depend on you if you will get up and go after you read this article. Continue reading →

Genchi Genbutsu is one of the principles of management which is employed by Toyota.  In English, Genchi Genbutsu means, go see for yourself.  Normally in big companies, managers rely on data to make their decisions, but in Toyota everything  must be verified by the human eye. Though the car maker is a big company, the principle can be applied to micro and small enterprises owners by understanding what it takes to go and see for yourself. Continue reading →