What business idea?

Once a person makes the bold decision of leaving his present career and lifestyle, the biggest problem he will have to resolve is to know what business venture will capture the interest of the market, and bring him his expected returns from such investment. I believe that having, or generating, a business idea that perfectly answers the needs of the majority is the foundation of a successful business venture. A great business idea, along with a perfect opportunity to do business, results to favorable business possibilities.
Creativity in a business idea, as discussed by our professor Mr. Ramon Duremdes, could make, or break, the good results an entrepreneur expects from his venture. Creativity is an important attribute of a successful entrepreneur. The fifth chapter of our book entitled Entrepreneurship (6th edition) discusses some of the traditional methods on how to generate good business ideas (which includes brainstorming, focus groups, and problem inventory analysis), and a number of creative methods like free association, parameter analysis, brainwriting, and reverse brainstorming. The product planning and development process, which is divided into five major stages (the idea stage, concept stage, product development stage, test marketing stage, and commercialization), is also pointed out as an important toll in the conceptualization and development of a business idea. Having these concepts in mind could greatly help an entrepreneur in generating a winning business idea.
Also, some articles relating to business ideas are available (and downloadable) online to facilitate some entrepreneurs in creating a good business concept. To name a few, the articles Knowing A Winning Business Idea When You See One by Kim and Mauborgne, and Michael Rappa’s Business Models on the Web recount a diverse array of guidelines on how to primly, if not flawlessly, craft a successful business venture from a winning business idea. I have read these articles and I suppose that many entrepreneurs would find these readings interesting and very much related to some of their business idea fiascoes.
In school, we use these in order for us to generate business concepts for our proposed business plans. Yes, as part of our course requirement in Asia Pacific College, we have to create a business proposal. This is done supposedly to help us develop our skills in business, and eventually use such skills in our future profession. I find this relevant to us as students of the college, since our school is owned by two of the most successful businesses in their respective fields: IBM, the leading business machines manufacturer in the world, and SM Foundation, spearheaded by the SM Group of Companies, the leader in retail business in the Philippines.
The precepts that we earned in class, as well as the learning I could get from the said articles, will definitely help me as a student in understanding more the different concepts involved in the field of business. In my studies, these learning can help me create good business ideas for the business plan we were supposed to develop. I could also relate such information to some other business concepts and theories discussed in class. For my future profession, I could sidetrack to some other career since I already have some important insights about business venturing. These would really help me a lot.
Needless to say, these articles and readings could really help anyone in carrying his business to success.