Formulating a business idea is a crucial step when you wish to become an entrepreneur. A thorough business idea increases your chances of success.
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Your business idea is your idea of what you are going to sell, how you are going to do it and to whom. The business idea also points out the strength and unique competence of the company.
Your business idea should include answers to the following questions:
- What is the purpose of my business?
- Is there a demand for my product or service?
- What is my target group, and how do I reach it?
- Is my business idea unique? If not, what singles out my business idea compared to my competitors?
- How do I make an income?
When you have identified your business idea you should write it down. Make it short and uncomplicated – a few sentences is enough.
Protect your idea
It's important to think of protecting your ideas already at an early stage, they may become important to your business. Immaterial assets are all about ownership as a result of an intellectual accomplishment. They can be inventions (patents), designs, texts, copyrights or trademarks.
Think about what values you want to build your business around, how other companies are structured, what kind of competition you are up against and if you risk copying someone else.
You may contact The Swedish Patent and Registration Office (PRV) for help in these matters.
Responsible: Swedish Agency for Economic and Regional Growth