A business idea is a concept envisioned by individuals or teams that can be monetized through the delivery of products or services.
Serving as the foundation for entrepreneurial ventures, a robust business idea is essential for the development and success of new enterprises.
It encapsulates the initial vision that guides market research, product development, and business strategy, ultimately contributing to economic growth and innovation.
Innovation can be the central focus of a business and this can help them to grow and become a market leader if they execute their ideas properly.
A unique selling point (USP) is the factor that makes a company or a product stand out from its competitors, whether it is through; pricing, quality, customer service or innovation.