Business Ideation: Data Driven Ideas for Business Success

Business Ideation (BI) is the process by which we ideate new businesses, or create new revenue avenues for existing businesses. Or both things at the same time.

This process is a complex set of tools and techniques that allow us to discover paths and niches of profitable income. As opposed to simple brainstorming, Business Ideation is a methodology that researches existing services (usually through reverse engineering). Because of this, we can find opportunities that do not depend on luck, but on information and data

Business Ideation vs Brainstorming

Business Ideation vs Brainstorming

Despite the above, brainstorming (or BrS for short) is part of what we do when we work on these types of BI projects. The difference is that in the brainstorm, ideas and thoughts are the core of the process. However, in Business Ideation we use brainstorming as an initial and recurring technique.

What does the above mean? Well, we can start with a brainstorm to discover an initial idea. For example, suppose a customer comes with a request for a new business idea based on an existing service. A BI process could look like this:

  • We analyze the components of the idea.
  • Then we do a BrS session to find different paths based on the knowledge we obtained
  • We put these paths to the test and analyze variables such as existing competition, needs to be met, geographic coverage and other variables.
  • On the other hand, we do another BrS session to find opportunities based on the data we obtained from that analysis.
  • And so on until we find a project that is feasible with the client’s assets and that has a high probability of success.

Is BI the right service for you?

Let’s put it this way: do you want to earn more money and have reasonable chances of success when starting a new business? Sure you do!

Think about the opposite approach: to have an idea and just hope for the best based on intuition.

Our service is guaranteed to provide you with the ability to make informed decisions about new revenue paths, minimizing risks to a lesser extent.

However, one note: our BI services are only consultation services. We can help you with other services that will help you develop the data you will get from that query, as you will see on our Services page

Would you like to be part of our growing customer base? Just click here to contact us! Let’s start something great!