Being a business owner is a pretty intimidating idea at times. It seems to be a great idea on paper, but what mostly they lack is? Layout.

Layout plays a significant role in business formation. There is no magic or some sort of secret for your entrepreneurial journey, and you have a successful business.

So, Now, The first question is, “How to get that layout?

The answer is simple. 

Businesses need to adopt the problem-solving approach.

Nobody is interested in a business unless it is: 

A) Providing some value

B) Providing a solution to the current problem.

Problem-solving cases

Case 1 

If a person has a stiff back while working, they will find a comfortable chair.

Now, you need to solve this problem by making a chair as per their needs.

Customers are very solution-oriented beings. If the business gets successful in providing the customers with what they want, It will be helpful in customer retention.

Case 2

If the targeted audience is a food lover but also wants to track those calories to stay fit, the business can try to find out the source to make their food healthy yet tasty, like providing them with the option of having a sandwich of brown bread instead of white bread.

These things may look insignificant for a shorter period, but they will make your customers feel special.

A business Concept is the core idea of your operations.

It establishes a foundation for the business. The business concept is the outline for what is the intention of your business.

Are you going to have a fresh start, or You are adding a new product to your product line?

You must be clear with,

The purpose of the idea creation

The market it is covering

The targeted solution

Another aspect of the business concept is financing. Business needs to have great planned finances.

The creation of new business and even the product addition to the existing product line is costly.

Every business starts a venture to earn profits. Managing the cost and having a pricing model as per the cost and the desired revenue growth may lead to a profitable business.

Types of businesses to try.

Business 2 Business

Business 2 Business is not a very common concept, but it is one of the significant steps in the whole process of buying from the manufacturer to the end consumer, as the end consumer is not going to be your customer, but You are going to sell your product to another business.

For example, you are a furniture manufacturer, and you sold your goods to a restaurant. In this case, the restaurant owner is the customer who will use this furniture as an asset for his business.

Consumer goods (Business 2 Customers):

Consumer goods are the most common business model as the customer will also be the consumer of your goods.

Consumer goods can be anything useful in day-to-day life. A pencil, a pen, toothpaste, etc.

As the name suggests, a consumer good is something that should be easily accessible because a consumer needs this product in their daily lives so so you should also be easily accessible by the customers.

E-Commerce:

As customers want their life as convenient as possible, e-commerce helps them to have that luxury.

Customers can access whatever they want to buy from the convenience of their homes with just one click.

If the customers are going towards e-commerce, then the business should show its presence.

You can have an E-Commerce shop in the form of your website or the platforms providing these services. You can go for both online and offline routes if you want to.

Digital Product:

A digital product is in the trend these days as everyone is on the internet they will face some issues, to solve these problems the digital product is helpful.

A digital product can be anything from a simple resource such as an e-book or proper software to running a computer.

The advantage of a digital product is that it is slightly less expensive than a physical product.

For example: if your customer is a website owner and wants to make his website look good and faster, you can build a website theme for that purpose and sell it on your website.

You can offer different plans for the specific needs of the customer. If someone wants to buy the license for one year or permanently, you can price your product accordingly.

Website

Website is not very different from e-commerce. Businesses selling on their websites eliminate the commission associated with using their platform. There are some establishment costs associated with websites.

Bottomline

To conclude, I would like to say that one needs to have a great business plan to counter the market needs.

Business owners should identify the problems first, what kind of problems their customers are facing, and what can be a possible solution to their problem.

Business owners need to find their customers and launch a product according to their needs as each customer may have different needs according to their geographical area and their willingness to spend on a particular product.

Every business owner should create an outline before starting the business to have a complete idea for prospects.