Business idea

                      

A business idea is a concept that can be used for financial gain that is usually centered on a product or service that can be offered for money. An idea is the first milestone in the process of building a successful business.For businesses this could mean; creating new ideas, new product development through research and development or improving existing services. Innovation can be the central focus of a business and this can help them to grow and become a a market leader if they executive their ideas properly. Businesses that are focused on innovation are usually more efficient, cost effect and productive. Successful innovation should be built into the business strategy, where you can create a culture of innovation and drive forward creative problem solving.A unique selling point (USP) is the factor that makes a company or a product stand our from its competitors, whether it is through; pricing, quality, customer service or innovation.^[10]

Each successful company has a USP and this is what potentially makes their customers loyal to them, as this is the original reason as to why they chose to buy from them. A USP can be created through the element of being first to a market, for example with Uber; who were the first company that gave you the ability to press a button and taxi would appear within 5 minutes to pick you up.^[11] Because Uber had reached this market first, it gave them a USP and therefore they received loyal customers for this. However; with fierce competition copying Uber's business model, Uber have had to develop their service through innovation and this is where innovation can be used as a USP, as Uber have had to develop their services to a wider market in which they are now working on a delivery service called "Uber Rush.Business ideas that solve problems are fundamental to developing our world and companies such as Curemark are one of many who do this. Curemark is a biotech company founded by Dr Joan Fallon, who noticed that a lot of the children she treated were low on an enzyme for processing protein and since then she has quit her job and has built Curemark to solve this problem. Curemark has now raised $50 million and is on its way to solving a problem that truly exists.