Introduction
1. Ideation
Ideation is the creative process of generating, developing, and communicating new business ideas. It’s the very first step in entrepreneurship, where entrepreneurs brainstorm and vet opportunities based on market needs, trends, and personal interests or expertise.
Common Methods for Ideation:
- Brainstorming sessions
- Market gap analysis
- Customer feedback and pain point identification
- Trend watching (technology, lifestyle, etc.)
- Competitor analysis
2. Business Plans
A business plan is a formal document that outlines a business’s goals, strategies, market analysis, financial projections, and operational structure. It serves as a roadmap for founders and is crucial for attracting investors or loans.
Key Elements of a Business Plan:
- Executive Summary
- Business Description
- Market Analysis
- Organization & Management
- Product/Service Line
- Marketing & Sales Strategy
- Funding Request (if needed)
- Financial Projections
- Appendix (resumes, legal documents, etc.)
Case Study: Canva
Background:
Canva, founded in 2013 by Melanie Perkins, Cliff Obrecht, and Cameron Adams, is an online graphic design platform.
Ideation:
- Melanie Perkins observed university students struggling with complex design software.
- She identified a gap: easy-to-use, accessible design tools for non-professionals.
- The founders brainstormed and refined the idea into an online platform.
Business Plan:
- Market Analysis: Recognized the massive global need for simple design.
- Product: Developed a web-based tool with drag-and-drop features.
- Monetization: Freemium model (basic free use, paid premium features).
- Funding: Used their business plan to secure initial funding from investors.
- Growth Strategy: Target schools, small businesses, and eventually scale to enterprises.
Outcome:
- Canva rapidly grew to over 100 million users and became a tech unicorn valued at over $25 billion.
- Their business plan was regularly updated to guide new product launches and expansion.
Recent Example: “Too Good To Go” (2024)
Ideation:
- Identified the problem of food waste in restaurants and supermarkets.
- Brainstormed a solution: a marketplace app that connects consumers with surplus food at a discount.
Business Plan Highlights:
- Target Market: Urban consumers, food retailers, environmentally conscious individuals.
- Value Proposition: Reduce food waste, save money, and help the planet.
- Operating Model: App-based, with revenue from transaction fees.
- Growth Plan: Launch in major cities, partner with large retail chains.
- Financials: Included forecasts for user growth, cost structure, and break-even analysis.
Recent example
Ola Cabs Case Study
Ola’s business plan evolved from Aggarwal’s initial OLAtrips idea, pivoting to cabs after market research revealed transport gaps. The plan emphasized localization, aggressive expansion to 250+ cities, and diversified revenue via Ola Electric and fintech, securing $4B+ in funding and unicorn status.
Recent Examples
- Meesho (2025 update): Ideated as social commerce for non-metro India; the plan focused on the reseller model, hitting a $1B valuation via low-data apps and vernacular support.
- Krutrim AI (Ola’s venture, 2025): Aggarwal’s ideation on India-specific AI led to a plan for a sovereign cloud, raising $50M in seed funding amid the global AI boom.
Result:
- The app expanded across Europe and North America, saved millions of meals from waste, and attracted significant VC investment.
Summary Table
| Stage | Canva (2013) | Too Good To Go (2024) |
| Ideation | Easy graphic design for non-professionals | Reducing food waste via marketplace |
| Business Plan | Freemium, global market, online platform | Transaction-based app, eco-focus |
| Outcome | Rapid global scale, unicorn status | Multi-country launch, VC funding |
Conclusion
Ideation is about finding and shaping the right idea.
A business plan turns that idea into a structured pathway for action, funding, and growth.
Case studies like Canva and Too Good To Go show how successful businesses arise from strong ideation and disciplined planning.
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