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Conceptualising innovative business ideas is a process that requires creativity, critical thinking, and a deep understanding of the market. This process is often depicted in popular business movies, providing viewers with a glimpse into the world of entrepreneurship and innovation. In this video, we will take a deep dive into how these movies portray the birth of groundbreaking ideas, the brainstorming sessions, and the initial steps taken to bring these ideas to life.

The first step in conceptualising innovative business ideas is identifying a problem or need in the market. This is often portrayed in business movies as an ‘aha’ moment where the protagonist identifies a gap in the market. For instance, in “The Social Network”, Mark Zuckerberg identifies the need for a social networking platform for Harvard students. This identification of a problem or need is crucial as it forms the basis for the innovative business idea.

Once an entrepreneur has identified a problem or need, they then move on to brainstorming solutions. This process involves generating as many ideas as possible without judgement or criticism. In “Joy”, for example, Joy Mangano brainstorms different designs for her self-wringing mop until she comes up with an innovative design that meets her needs and those of potential customers.

After brainstorming comes refining and testing the idea. This involves critically evaluating each idea generated during brainstorming and selecting the most viable one. In “Steve Jobs”, we see Jobs and his team refining their initial idea for a personal computer until they come up with the groundbreaking Apple I.

The next step is creating a business plan. This involves outlining how the business will operate, its target market, marketing strategy, financial projections, etc. In “The Founder”, Ray Kroc creates a detailed business plan for his vision of franchising McDonald’s.

Finally, once all these steps have been completed, it’s time to launch the business. This involves taking concrete steps such as securing funding, setting up operations, and marketing the product or service. In “Wall Street”, Bud Fox takes the initial steps to start his own brokerage firm after learning the ropes from Gordon Gekko.

In conclusion, conceptualising innovative business ideas is a complex process that involves identifying a problem or need, brainstorming solutions, refining and testing the idea, creating a business plan, and finally launching the business. Business movies provide a fascinating insight into this process, showing us how some of the most successful businesses were born out of innovative ideas.

However, it’s important to remember that while these movies provide inspiration and valuable lessons, they are dramatised versions of reality. The process of conceptualising innovative business ideas is often much more challenging and time-consuming in real life. Nevertheless, with creativity, critical thinking, and a deep understanding of the market, anyone can come up with an innovative business idea and bring it to life.