Compared to the Mission, the Business Idea is a more detailed description of the company’s practices. The business idea will summarize how the company is going to thrive in its line of activities, how the company is going to function, what kind of products and customers it aims to have and what kind of organization it will have.
The business idea helps you distinguish from other companies in the same sector operatively and qualitatively. The business idea combines the way of acting of the company, the benefits of the products/services of the company to the customer, and the target group’s perception of the products and services. The formulation of the business idea is a part of the marketing planning for the company.
The business idea plays a role in the company’s image, i.e., how the outsiders and customers see the company and its products. For a small company, its image and its actual functioning cannot be inconsistent too long.
The business idea is robust when it is based on cooperation, and its components (what, for whom, how, why) form a coherent combination.A good business idea enriched by collective enthusiasm and know-how are the building blocks of the cooperative to be incorporated.