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Building Business Ideas (Using Imagination/Intuition)

        Most ideas come from either customer needs or inspiration from the behaviour of others. There are many ways to develop
        innovative and practical ideas for businesses. Following are the various types of ideas that entrepreneurs look into:


                                                      Ideas



                                                         Location based


                                                          Season based



                                                       Based on events like
                                                      weddings, parties, etc.


                                                         Ideas based on
                                                           self-interest



                                                          Study based



                    Task



             Asha, the chai-seller
             Asha started working in a multinational company after completing her MBA. She found that the cafeteria in the
             company did not serve good quality tea. She also did not find any tea vendor near her company offices. After
             working in the company for three years, she decided to start a venture of her own. For this, she chose to sell
             good quality ‘chai’. She chose the area outside her previous company to start her ‘chai’ business. Every morning,
             she would serve hot tea to her customers with a smile. She also included several varieties of ‘chai’ like ‘Tulsi chai’,
             ‘Masala chai’, ‘Ginger chai’. Soon, her business started growing. People would willingly stop to buy a cup of ‘chai’
             from her and even chat with her. She started only one tea stall but now runs five tea cafes in three different cities!

             1.  Which ideology of idea creation did Asha follow?

             2.  Why did Asha come up with this idea?


             3.  Can you think of any idea to start a business?




                Understanding the Market

        Entrepreneurs are directly responsible for ensuring that the needs of customers are met by the products or services
        offered by them. Therefore, in this phase of the business, it is very important to understand exactly what most customers
        want. Customer needs can be grouped into four types:

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