Your business idea and how to develop it
Employee work is not for you. You want to feel free, you want to make your own decisions, in your own battles, learn from your mistakes.
You have an entrepreneurial idea and you would like to develop it, feel that it is the winning one but you do not know where to start.
(It’s normal, do not worry!)
If this is your situation, then you have to read this article. It will not teach you to do a business plan and it will not give you the solution to all your problems, but it will help you to see more clearly and (hopefully) decide to deepen that idea that you have hidden in the drawer.
Let’s see, before talking about business plans, analysis, and matrices, how to understand if your business idea can work and if you can have a request on the market.
Evaluation of your business idea
The first step towards starting up your business should be to test your idea.
Nothing detracts from your abilities, but our ideas are not always those that can earn us an income.
At this stage you should:
- define your idea by adding details
2. do research on the sector and the competition
3. ask other people to evaluate your idea, someone who is not as involved as you in the project.
4. do a SWOT analysis to try to understand, in addition to the strong points that you have already found, also the weaknesses and obstacles that you could encounter in its realization.
The first research
If at the end of the first step you are still convinced of your idea, you have to start planning better the realization of your project.
- Make an analysis of your skills.
What do you need to develop your idea? Do you have the necessary knowledge?
- Your idea of product or service
Define its characteristics, analyze the supply and demand, make a market survey. From here you will be able to understand if your product or service has demand if you can sell it, at what price and how much competition you will have to face.
- Human resources.
By evaluating the market and your product, you will realize that you also need other figures with different specializations to develop, propose and sell your idea.
At this point, you will also need to evaluate the financial resources you have available to involve employees.
If you need help to better understand the activities to be carried out, you can take part in one of the free courses offered by the Region, through company training companies and management consulting, such as Eduforma.
Doing business is not easy, and being guided to get from the idea to the successful company is imperative.
2. Travel. Much.
If we look at Greg Hoffman, Nike’s marketing director, we find inspiration in his stories:
“Traveling for me is a source of great inspiration. Brazil is by far one of my favorite countries and I’ve been back there since 1997. Whether it’s architecture or furniture, the design is very modern, but with a soul. Which is the same goal that we try to reach here in Nike? Think of the city of Brasilia, the modernist mecca designed by Niemeyer. This city represents a bold and disruptive vision: every single detail of the metropolis has been designed for a specific purpose. It forces you to look at your work and think: are we pushing far enough? “
3. Business Angels
Once you have figured out how to put your business idea into practice, set up the business plan, set up a teaser deck, you can look for partners, investors or business angels.
Business Angels are informal non-institutional investors who can provide equity for your future business.
Before presenting your business idea to a Business Angel, make sure you have taken care of all the aspects of the future business by producing the necessary documentation.
“The value of an idea lies in putting it into practice.”