Fresh ideas can give exiting businesses a competitive advantage, and help make goods and services stand out in the market.
New ideas can result in a new product or new market entry, for example.
Now what? Often, that’s where entrepreneurs get stuck.
Business ideas are not enough if you can’t turn them into real business.
TURNING IDEAS INTO BUSINESS is about doing!
Stop talking and start writing.
Research the competitive landscape, and answer the following questions: “Has anyone done this before?” and “Why can I do it better?”
While sharing definitely has its benefits and is highly recommended in the overall idea-making process, taking the time to document your thoughts on paper first will provide greater focus and a practical point of reference for development. It’s difficult to move ideas forward when it remains in the world of “he said”.
Do the hard work of clarifying the idea.
‘If you can’t write your idea on the back of a calling card, you don’t have a clear idea.’
Get to the point and make sure there are no misunderstandings about the idea. Simplify and clarify concepts. Carve out the hoopla that surrounds the new idea edit the idea until you feel that you’ve reached its core.
Build a Team.
It’s important to know that you don’t have to do everything by yourself—in fact, you can (and probably should) partner with people who have experience in areas where you aren’t as proficient. As you’re mapping out your idea, determine what skill sets are going to be most important in turning that idea into a reality.
Start moving and launch.
One common misconception people have is that your product must be perfect before you show it. We advise to build a “minimum viable product,” or the easiest and cheapest version of your idea possible, so that you can test it out.
– How do I come up with a bright idea?
– Checking out the competition
– I’ve got my bright idea – now how do I turn it into a successful business?
– Choose a business mentor
– Create a business plan
– Sort out your business finances
– Plan the life cycle of your business
Go to SERVICES to read more about the support we provide.