1) something formed in the mind
2) an idea or invention to help sell or publicize a commodity
The Oxford English Dictionary – specifies only commodities but the term equally refers to kind of goods and services.
Many businesses are run without a conscious concept and one can also witness elaborate concepts failing during implementation.
Concept is a strange creature. You won’t necessarily fail without it and having one would not necessarily prevent failures.
– Why would you need it, then? Why would you spend your energy and hard earned money on something that you might be able to live without and something that would not necessarily shield you from all kind of troubles?
The answer is simple: Because you aren’t a gambler, you are a business person. Even though many people win big in casinos, you’ve decided to invest in a business instead of putting a hefty sum on the red in Vegas.
Starting a business, changing the course of an existing business or growing the business in a new direction without a well thought concept is more of a gamble than a professional way of managing your venture. The concept, particularly a good one is the foundation of your future.
The business concept comprises your vision of the company, explaining the value your product or service you’ll bring to the customer, why you are especially qualified to offer it, as well describing your offering’s uniqueness and growth potential.
In many instances the concept is part of the more complex business plan but it can also be developed individually.
A well crafted concept is the minimum investment in a new business or a new development. You might need to or want to consult with others before you’d dive into elaborate planning. Nonetheless, a business idea without conceptualization rather creates the impression of a whim and looks frivolous.
On the other hand, initiating any development with a professional concept not only helps to clearly communicate the idea but it also gives reliable guidance to all participants through the next steps of planning. A well crafted concept is the lighthouse of any business development.
Whether you’re thinking about starting a business or you want to grow your existing venture, a free consultation can only help to achieve the best results.
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