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Generate One Business Idea and Write Down What Your Venture Will Do and How It Will Make Money and Its Future Plan

The document proposes a home decoration business idea that focuses on providing affordable interior design services and products. It will target new apartment developments by both selling home decor products and offering interior design advisors at affordable rates. The business will focus on affordable outsourcing of designers, online crowdsourcing of design ideas, style profiling to help customers make decisions, cutting out middlemen to reduce prices, and lifestyle marketing of products.

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Farhan Ahmed
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51 views4 pages

Generate One Business Idea and Write Down What Your Venture Will Do and How It Will Make Money and Its Future Plan

The document proposes a home decoration business idea that focuses on providing affordable interior design services and products. It will target new apartment developments by both selling home decor products and offering interior design advisors at affordable rates. The business will focus on affordable outsourcing of designers, online crowdsourcing of design ideas, style profiling to help customers make decisions, cutting out middlemen to reduce prices, and lifestyle marketing of products.

Uploaded by

Farhan Ahmed
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Generate one business idea and write down what your

venture will do and how it will make money and its


future plan.
A business idea is a concept that can be used for financial
gain that is usually centered on a product or service that
can be offered for money. An idea is the base of the
pyramid when it comes to the business as a whole.
The characteristics of a promising business idea are:
 Innovative
 Unique
 Problem solving
 Profitable
Home Decoration is an innovative, creative & profitable
business idea & I personally think this business in recent
time has a lot of opportunities as our country is still in a
developing stage. New places in the city like Purbanchol,
Deabari, Satarkul will be flooded with new apartments &
infrastructure developments. This can be a great chance
for my business to take a jump & expand.
It’s not necessary that every apartment owner will need
a home decorator to set their new place, most number of
people usually do it by their own. Keeping this in mind
my business will not just sell products, we will also
provide interior designers & designing advisors in a very
affordable rate. Regardless of whether a startup targets
the hands-off shopper looking for convenience, the
indecisive decorator looking for professional guidance or
the consumer trying to save some money, the home
decor industry is changing quickly.
Here are some points my business will focus on -
1. Affordable outsourcing.
Historically, professional interior design was an
expensive luxury. Luckily for consumers, though, hiring a
designer just became affordable with new online
business models, standardization and price
transparency. 
2. Online crowdsourcing.
In home decor, crowdsourcing is just catching on. A
customer submits photos of a space online and receives
design ideas and style boards from multiple designers
around the country. Once the consumer chooses a
favorite design, he or she receives a personalized floor
plan and shopping list along with instructions on how to
DIY the space from the before to the after. 
3. Style profiling.
One challenge in home decor is making decisions. There
are millions of products to choose from, so consumers
rely on heuristics to help them commit. Customers like
style profiling to help them articulate preferences and
narrow down the scope of choices.
4. Cutting out the middle person. 
Slicing out the middleman is in vogue these days and the
home decor industry is no exception. As is the case
with many industries, home decor has a long supply
chain. Several new startups are remodeling this supply
chain and bringing down the price tags. Two new
companies work directly with makers and manufacturers
to provide quality designer furniture, resulting in more
affordable prices for the shopper.
6. Lifestyle marketing. 
Many entrepreneurs today know product marketing can
involve more than selling a product: It can sell a benefit.
In the case of home decor, the benefit is the lifestyle that
comes with the chair. Many decor companies are
changing their merchandising strategy and organizing
products by theme rather than category. 

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