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Idea Description

Ideas based on self-interest Entrepreneurs can find inspiration close to home in their own
interests. Someone who loves and excels at dance, for example,
could open a dance studio catering to both serious dancers
and those seeking a fun fitness option

Study based Your studies can be a gold mine for business ideas. Is there a
lack of good study resources? Create a website or app with
helpful materials. Solve student problems based on your own
challenges and turn learning into profit.

21 st #Entrepreneurship
Century
Skills #Creativity
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
T
A company offices. After working in the company for three years, she decided to start a venture of her
S own. For this, she chose to sell good quality ‘chai’. She chose the area outside her previous company
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to start her ‘chai’ business. Every morning, she would serve hot tea to her customers with a smile. She
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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?

U nderstanding 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:

Partially Unfulfilled and Unknown
Fulfilled Needs
Fulfilled Needs Known Needs Needs

Fulfilled Needs
These are the needs that customers understand. The needs are met by various companies or governments.
For example, the need for travelling modes is covered by both private bus services and state bus or metro
services.

Entrepreneurial Skills-III
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