The continuous success of a small business depends on how the market will allow this to happen. One way is to keep the customers satisfied with new and innovative products or services.This will, however, require activities suitable to the production of sound business ideas.
A sound business idea is a new offering that is feasible and which will provide value to the entrepreneur. Sound business ideas are produced by creative individuals and organizations. The creative process is divided into four phases;preparation, incubation, insight and verification.
Creativity in your business is used to produce innovations which falls under any of products, process and marketing. Creativity is the best expected when the right organization atmosphere exists. If the business is already existing for some time and management would like to keep its development pace, it must be adapt the new product process scheme. There are certain group creative techniques; interactive techniques consisting of brainstorming and storyboarding, nominal group technique, and the Delphi technique. It is possible to measure the probability of success of a business idea by using the formula developed by Carpenter.