While learning different basis of business for many years YUYDI specialists paid special attention to “innovations”, including “conceptual innovations”. They have been thinking that competitive “wars” have nothing creative in their nature and that quantity of void market niches is limited only by capability to notice them and to develop.
One of the senior YUIDI partners has been learning and practicing creative business planning for about ten years. He managed to develop his own methodology for that time as well as tools for revealing non-occupied and low competitive market niches:
- with good prospects for development;
- with optimal price of entrance and other characteristics (for example, IRR, ROI, etc).
Capability to see non-occupied market niches, perspective technologies and tools for their development (forming demand) enables to create one’s own new market sectors free from competition for 3-5 years, and that is a new profitable business.
That drive led us to the creation of YUYDI R&D laboratory developing new perspective business ideas including those which are based on technological innovations.
Life circle of “new business” consists of the following phrases:
- screening of environmental background
- invention of idea
- testing commercial usefulness and perspective of that idea
- establishing business
- forming of demand
- satisfaction of the demand and receiving income
- capitalization of business
- sale on “still” developing market and obtaining additional income.
Each phase of that life circle is very important, but the most important are the first five. The first three phases are especially dangerous in terms of strategic mistakes. But knowledge, experience and personal methods of YUYDI’s experts create unique ideas, minimize risks during their realization.
New business ideas, commercially perspective projects including those which are based on technological innovations, projects with low cost of entering and significant prospects for the market are in constant attention of innovative YUYDI R&D laboratory.