Creativity, in layman's term means being unique or creating new ideas. But creativity in entrepreneurial world means business. "Creativity isn't the sole province of artists and musicians-it's the ability to find better ways to make products or to find and fill needs that no one noticed existed." Richard Florida PhD. If you stick to the old trend, you are left behind and ends up as a loser, if you follow the trend, then you end up having many competitors and your chance of becoming a successful businessman is very poor but if you break the chain and pour some uniqueness in your business then the chance of becoming successful rises up.
Creativity has a major contribution to one's success but this alone is not enough. You should also know some basics in generating a business idea. Like in our Entrepreneurial Class, in APC, our professor, Ramon Duremdes, told us to think three unique business and to choose 1 from those, to be our business, for our project. I'm very creative when it comes to other things but when it comes into business my groupmates prove me not. I chose one of those three businesses and my groupmates ask me why? I replied and told them that it's because that business is very rare in that place, and my groupmates just laughed at me and told me many things like factors to consider in creating a business idea.
In the article of Kim and Mauborgne titled, "Knowing a Business Idea When you See One," it states there that there are three tools to consider to identify the business idea that really has the potential. Those three tools are: the buyer utility map which indicates the likelihood that customers will be attracted to the new idea, price corridor of the mass which identifies which price will unlock the greates number of customers, the business model guide which offers a framework for figuring out whether and how a company can profitably deliver new idea at a targeted price.
In the article of Michael Rappa titled, " Business Models On the Web," it states there that a business model is the method of doing business by which a company can sustain itself--that is, generate revenue. The business model spells-out how a company makes money by specifying where it is positioned in the value chain. And there are nine basic categories of business model namely:
- brokerage
- advertising
- infomediary
- merchant
- manufacturer
- affiliate
- community
- subscription
- utility
I hope these informations help you but if you would like to learn more about creativity and business idea just visit Timothy John Barron's Blog or Therese Gerlie Benavidez's Blog.
- return to Gerlie's Blog
- return to Timothy's Blog
