Make your Business Idea come to life in 5 simple ways
February 27, 2013 1 Comment
So you have this idea and wondering what the first step is or how to make it come alive? Well I do have some little tips to help or you can call it a guideline just for you. So grab a paper or book, a pen or pencil, print it out or just bookmark my page because I will be giving you more information day in and day out. They will help you out, well at least until you become too big a business for my blog.
My first tip for you is to RESEARCH: Research the industry you intend to enter. Like every industry there are competitors. Businesses you must share the profit of that industry with literally. If you know who your competitors are then you have done almost half the whole work of starting up and on your way to making profit that is if you know your sales and marketing very well. Of course I will be giving you tips on that as well in my subsequent blogs. Back to my first tip; you will also need to examine the substitutes or market trends that makes your business idea a reality. You will be lacking if your idea was similar to what a competitor had several years back. Knowing the market trends of your idea will not only help refine your concept but differentiate you from your competitors.
My second tip for you is to Feedback: Often most people are deterred by this tip because it involves sharing your ideas with someone other than yourself. But that is not all what this tip is all about. You need to have a second opinion on your idea and of course there is a risk of your idea being taken into execution by someone but it is very minimal. I believe every idea is unique and it takes only you to visualize it and make it come alive. So don’t be secretive about your plans, share them with people and take notes of every criticism, add-ons, or whatever feedback you get. Use them in shaping your ideas. Oh and those who think you are crazy, really think you are crazy but don’t be discouraged by them. Being crazy is a good feedback so keep working.
The third tip is to be Informed: Each and everyday, new trends and information pop-out. That is business for you. To make profit, you will need to tweak little things here and there, change that and start or stop making that products. You will need to be informed about every single trend and news in the industry you want to go into. Getting the right information at the right time helps you develop your idea even further to meet the current market.
Seek HELP is my fourth tip: Wondering what that means? It is easier for me to write this tip than for you to seek it. Well I have to write it anyway. Look for people who can help you in any way. They could be investors, analysts, consultants, partners, and so on. You can send emails, make phone calls, send mails, meet them over a cup of coffee or even send out your business plan if you got one. You should never forget to add what sort of help you require from them. Some will not reply but others will. Some you must convince, well others you still have to convince especially if they have to invest in your idea.
Well you might be thinking this is not in the business dictionary. It is actually. Starting up a business is a very difficult task if not the most. It requires inner “strength” and not every entrepreneur has it. When the going gets tough, the only thing that will keep you going is that “Strength”. Wondering why I had to put it in quotation marks? Well we all have sources we derive our strengths from, the only problem here is I can’t tell you where yours is from. So dig deep and find that one thing that can motivate you even the most difficult of moments and look for ways to link them up. Because the road will be rough and tough but if you have a firm believe you can reach there, if you don’t then you will be one of the 90% entrepreneurs who fail within a year of start-up.
Thank you for reading. I hope I have impacted some little knowledge in your life. Keep me posted if you have questions or anything else you will like me to address. In the meantime, you can follow my blog or like my Facebook page or follow me on twitter. Thank you.