How to create and implement a business idea

To carry out the creation of a business or company need always from the conception of an idea. Now, unless you’re a genius l technology, trying to reinvent the wheel is a huge waste of time. For most people starting a business, you only need to answer a simple question: “How I can do something better than what is already done?” or “How I can do it differently than another person?”.

The idea

One idea is an image or representation that remains in the mind, or intend to do something, wit to arrange, invent and draw a thing. Often the idea is not entirely new, but instead is to improve or complement existing products or services. We’ve all ever had a brilliant business idea apparently. Some arise from the observation of reality, sometimes as a result of previous practices or improvements and innovations to other businesses, ie, represent the fruit of experience.

Steps to produce an idea

1. Take a sheet of paper and make a list of five to seven things you like to do or do well, such as: I get along with people, I like animals, I like reading, I like numbers and computers, understand fashion. Just write whatever comes to your mind, but not make sense.

2. List things you are not good or they do not like. At this point it is important that diferències what definitely “not like” things for which you think you have no talent or “are not good.”

3. With these lists in hand, ask yourself: “If I could ask for from three to five products or services that make my life better, what would they be?” Think of your life as a man, woman, father, husband, mother, wife, or any situation where you are. Determines what products or services would make your life easier or happy, what would make you more productive or efficient, or do you leave more free time.

4. Then ask yourself the same question about your professional life. It also examines what you like or dislike in your work life and what people like you or not.

5. Finally, answers the question: “Why do you want to start a business? “.

When you finish, look for a pattern in what you wrote (for example: A business that offers one of the things you like to do or where you’re good required).

Characteristics of a successful idea

There are no magic formulas to whether an idea will succeed, but businesses that become successful tend to present some of the following characteristics

The novelty: the originality. Operating in emerging sectors or activities primarily related services and new technologies.

People will ask: have a clear market orientation, circumstances have created the need. They specialize in a particular sector customers and offer added value for the user that differentiates them from their competitors.

Give money: They are economically viable in the medium term, allowing them to generate sufficient resources to finance the growth of the company.

Needless experience: They have a team of highly qualified and committed to the project. Many investors prefer to bet on a team “first” with an idea “second” by a team that less qualified individual with a great idea.

There is a winning plan: They start with a detailed planning based on a market analysis, have a business plan, marketing strategy and even a contingency plan which provides the steps to take if something goes wrong.

Let’s do it

Think about what you want to do. Once you have the idea, talk to several people to know what they think about it. Question: “Would you buy or would you use this product or service and how much would you pay?” One of the most common warnings you will hear about the risk you run. All will tell you that is a risk to start a business. And of course it is, but what in life is not? Also, if you consider carefully what you’re doing, you seek help when you need it and never stop asking questions, you can minimize the risk. Analyze what you are really risking and evaluates risk. What do you lose if things do not work? You do not risk what you can not afford. Do not risk your house or your family, or your health. If all you have to lose is a little time, energy and money, then it’s probably worth the risk.