business idea
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business idea
A concept or plan for a new company that describes what product or service is to be offered and how money can be made with it.
Seine Geschäftsidee war es, personalisierte Handyhüllen online zu verkaufen.
His business idea was to sell personalized phone cases online.
The word is a clear compound made up of 'das Geschäft' (business), the linking -s, and 'die Idee' (idea). So it literally means an 'idea for a business'.
Hast du schon eine gute Geschäftsidee für deine Selbstständigkeit?
Do you already have a good business idea for becoming self-employed?
'Geschäftsidee' (business idea) is often used with verbs that describe the process from creation to realization: to 'haben' (have), 'entwickeln' (develop), 'präsentieren' (present) a business idea, and finally 'umsetzen' (implement) or 'verwirklichen' (realize) it.
Viele Leute haben gute Geschäftsideen, aber nur wenige setzen sie auch um.
Many people have good business ideas, but only a few actually implement them.
To evaluate a business idea, adjectives such as 'gut' (good), 'brillant' (brilliant), 'innovativ' (innovative), 'lukrativ' (lucrative), or 'erfolgreich' (successful) are often used.
Das war eine wirklich innovative Geschäftsidee.
That was a truly innovative business idea.
business model
'das Geschäftsmodell' and 'die Geschäftsidee' both have to do with a company and making money. 'die Geschäftsidee' is more like the initial plan: What do you want to offer, and for whom? 'das Geschäftsmodell' describes more precisely how the company works over the long term, how customers are reached, and where the revenue comes from. Learners may confuse the words because both are important for new companies. In practical terms: the business idea is the starting concept; the business model is the logic behind it.
In der Pause haben wir eine Geschäftsidee für einen Lieferservice entwickelt.
During the break, we developed a business idea for a delivery service.
Das Geschäftsmodell der Firma basiert auf monatlichen Abos.
The company's business model is based on monthly subscriptions.