The 2 most important aspects that your business idea needs

Today it is not enough to undertake. It is necessary that the idea with which we intend to go on the market has a certain solidity so that it can be maintained in the future. In Mexico, more than 10,000 new ventures are created annually (legally and with registration), of which survive 25% after its second year, which makes it the third best country in the Latin American region to start a deal.

If you want to start a business, but you still don't have a clear idea about what you want to do, take a look at this list of ideas for profitable businesses in Gananci. Surely some of them will serve as inspiration. The issue in Latin America according to a World Bank report is that too many companies are created, but there are too many little innovation in the vast majority of areas, for this reason, they cannot be maintained for more than 2 years.

The report reads as follows “business reality in Latin America is hampered by low innovation", A study that is also supported by the opinion of Camino Quintero, the manager of the National Association of Entrepreneurs of Colombia, who in an interview for Forbes magazine stated that"

in Latin America there are many ventures, but not necessarily sophisticated projects”.

To summarize, the majority of entrepreneurships in Latin America -according to various studies- lack two important elements that could be the key for which they fail to take off or remain in the market beyond their first two years: innovation / sophistication and also the relevance of the same.

To undertake it is not enough to have the money or all the desire in the world. It is necessary that the idea with which we are going to risk is worth the time and effort. To begin, remember that the myth that all ideas are good is not true. What is good is having a good amount of ideas from where to choose the best one.

If you already have an idea in mind to start shaping your venture, it is necessary that you pass this idea through some previous filters so that it has a greater chance of success.

Take into account that it is not enough just that the idea is innovative, it must also be relevant, when these two points are combined you have a winning idea. If it only has one of those two aspects, do not worry, it is time to put your mind to work to know how you can inject that other element in the best way.

Here are some signs that will tell you that your idea has the necessary innovation and relevance to carry them out:

-Satisfies a need: this need can be real or created. The important thing is that your venture has that resolution capacity. You may have a super innovative idea of ​​creating a robot that will put your socks on you in the morning, but do you really think there is a need for that in the market?

You cannot answer this question without first informing yourself. The answer will be given by the market. You may think that there is a need and when doing a market study it will tell you otherwise. Or vice versa, perhaps you are thinking of discarding an innovative idea because in your opinion it is not relevant and it turns out that a market study tells you that it is.

-It surpasses what already exists: innovation can come in the business model, in the service, in the product, or in all of the above. An innovative business does not seek to “get into the competition” but rather to surpass it or stand out for its differentiating elements.

Innovation does not seek to copy companies or businesses that are already successful - although they may take some elements to inspire - its purpose is to improve even the most traditional processes to bring them to the present day, often adding a touch of technology or simplifying them.

-Not everyone understands it: Most innovative businesses are not understood by everyone when their founder tries to explain or present them to potential investors or the general public. The reason is very simple: this requires opening the mind and seeing beyond the things we know. That's why the word innovation, because it introduces something new and unknown until now.

This does not mean that you should invent something totally new, different, out of the ordinary and never seen before. Perhaps with improving or providing unavailable solutions to small problems, you already have something in your hands.

To get started, take a topic or field that you are passionate about and think about how you could do something to improve it. Gather several ideas and then stick with the best and most feasible of all.

If you left your job to be an entrepreneur and with the previous keys you noticed that your idea may not be the most ideal, learn how to earn money in Gananci so that you can have income while you are gathering what you need to start your own business.