First weeks at school are always exciting.
They are exciting because we have lots of time to talk about businesses: inspiring stories across the globe. In one of these exciting gatherings, our teacher taught us one vital lesson of spotting business opportunities. Here, we share how he stated it:
“In the beginning was an idea, and the idea was in problems, and the idea was profit.”
This means business ideas are hidden in peoples’ problems; and the person who can find solutions will profit from them. People think capital is the first thing one needs to start a business. We have learnt that coming up with a business idea is the first step and not capital. At Kiddiepreneur, we learnt this the easy way.
We entered this year’s School Enterprise Challenge with four projects at the Bronze level. We would like to share how two of these business ideas were generated using our teacher’s standard formula.
Firstly, our headmaster was advised to use honey and Moringa to cure his headache. He couldn’t find the honey around after a hard search. Fortunately, he got it in another town but contaminated. With our teacher’s help, we use the internet to locate a Bee Keeper who produces pure unrefined honey. He shared this honey with our teachers and some parents, and our honey business was born based on the demand.
Secondly, we made necklaces as a class project. There was a funeral around and a classmate of ours went to sell for her mother. Her red and black necklace attracted a bevy of ladies. All of them needed one, so she called us to sell ours too. The interest was great, the profit was good, and so we added it to our business.
To generate business ideas, just solve peoples’ problems.