Implementation of the idea

Realization of a business idea

You have a brilliant idea and are you going to start a business? This is great, but unfortunately, not all good business ideas are profitable. In addition to the most creative idea, you also need to clearly understand how viable it is. Assessing the prospects for the implementation of a particular business idea is one of the most important and difficult stages in the birth of a new business. No serious businessman makes a significant investment in any idea without thorough analysis of its potential profitability and possible risks. The importance of planning and modeling the future of your business cannot be overstated.

The potential of a project that is in demand by the market and profitable for its owner is determined by a number of strict parameters. To analyze the potential success of a future business, you need (the list is far from complete):

  • Understand how much you yourself are really interested in the implementation of your business idea. The most successful type of business is people who do what they love. If you yourself do not fully believe in your idea or are not sure that you are ready to make every possible effort to implement it, take a certain risk, then it is better not even to start;
  • Make sure that your idea is promising. For a given market or territory, it must be unique in a certain sense. There is not the slightest sense to enter a densely busy market without understanding in all the details how and why you can outplay your competitors. Simply put, you need to make sure that your goods or services have someone to sell, and that the sales market has sufficient volume, taking into account the characteristics of the region and the target audience. You should answer the questions: who is your consumer, what is his income, how many there are, where they buy the goods or services they need, what motivates them to buy, how often they make them, etc. Many seemingly good business ideas have failed precisely because demand had not been studied in advance.
  • Make sure that the information on which you base your conclusions is obtained from reliable sources and is objective, and not just what you want;
  • Weigh your own strengths. Are you able to implement such an idea, do you have enough resources, experience, strength, desire and will to bring the idea to the end? Is your idea technically feasible?
  • Assess the relevance of the future business and the competitiveness of your offer to the market from the point of view of potential consumers of your goods or services;
  • Understand and calculate the ways and methods of promoting your goods or services On the market. How do customers find out about you, how affordable your product or service will be for the consumer?
  • I strongly recommend that you confirm your assumptions about the essence and prospects of the conceived idea with the help of other relevant (reviews and recommendations of professionals, experience of other businessmen, opinions of technical and other experts, etc.). So human psychology is arranged that we tend to exaggerate what we want and underestimate the negative, not to notice the facts that contradict our opinion. Anyway, one head is good - but many heads are even better;
  • Make a business plan. At the same time, it does not have to be drawn up according to all formal rules if you do not plan to use it in communication with third parties (obtaining a loan, searching for an investor, etc.). This can be a clear action plan with specific time frames, reflecting actual actions and events, a reasonable schedule of expenses and income, etc.;
  • your niche, determine the target audience, pricing policy, etc.);
  • Assess the long-term prospects of your business. What will you do with it in the long run? Sell, scale to new markets or regions, franchise, repurpose, etc. .;
  • Thoroughly work out all the necessary business processes that will take place in your business;
  • Search for promising partners and arrange agreements with contractors (if necessary, including with authorities);
  • Solve issues with fixed assets, real estate, equipment, technologies and all other material objects that will be required to implement your plan;
  • Take care of the search and selection of the necessary personnel; <
  • Far-sighted businessmen always take care of the safety of their own business in advance, taking into account both possible internal risks (theft of employees, technological failures and breakdowns, theft of customer bases, etc.) and external (changes in the external environment, natural disasters, emergencies, actions of competitors, etc.). Think how easily your idea can be copied by competitors and what will keep them from doing so? How will you resist this?
  • Complete all the necessary formalities (registration of a legal entity or individual entrepreneur, obtaining the necessary permits and licenses, concluding the necessary contracts, etc.).

The above criteria make it possible not to evaluate the business idea in general, but also to make certain rough calculations regarding the likely result of launching a separate project or business. If you cannot answer positively to each of the above questions and do not know how to compensate for any item in the absence of a positive answer to it, it is better to abandon the idea, save time, money and nerves.

And yet, very important. Consider the "survivor error." I wrote about it in detail in the book "The Architecture of Highly Effective Business", you can read it for free on www. ihico. u.

You can conduct a preliminary assessment of a business idea for success and potential using our free test Business Idea Assessment

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Last update: & nbsp 04.3.020

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Most start-up entrepreneurs want to start their own business from scratch without financial investment. What business can be opened with minimal investment, what small home business ideas are relevant in 2021 and other answers to similar questions, read this article.

Today we propose to discuss the following topic: "Realization of a business idea". We have collected and prepared a complete description of the business model and invite yours to express your opinion in the comments.

Sell, buy a business idea - service from bizoomiecom

Very often on the Internet you can see advertisements like “selling a business idea” or, conversely, “buying a business idea”. We decided to help both sides by making a win - win combination.

1) An offer for those who want to sell their business idea.

If you want to sell your unique business idea that you may have been hatching day and night for many months, then you can briefly describe its essence, scope and approximate costs (if any).

In order not to disclose the information in full, you can describe it in a thesis, so that it is more or less clear what is at stake. Well, if we are talking about a sale, and not about adding an idea for free, then you need to indicate a price for this information.

We will promptly post your idea in the appropriate section, where a potential buyer can find it and, if it interests him, contact you and buy.

2) An offer for those who want to buy a business idea.

Everything is much simpler here. You leave information about what area you have a business in and what information you want to receive. Perhaps you have nothing but finance. Then you briefly describe the essence of what you want to do and leave your contact information. We post this information and bright minds will be able to help you if they have something to offer.

In both the first and second cases, only ADEQUATE messages written by a competent person are accepted. If your information does not appear in the classifieds section, then the moderator hacked it, try to write a more thoughtful description sentence.

The most profitable business in a crisis - real ideas

It's no secret that initial investment is required to bring most business ideas to life. It is very difficult to imagine any direction of activity that could be implemented without investing in it. In recent years, the term "startup" has become more and more frequently used - it is a business project that starts from scratch. A well-designed plan can bring significant income if it is implemented correctly. A progressive and unique developed project has repeatedly proven that you can get rich in a short time.

If you do not have money, but at the same time a sufficient level of education or creative thought allows you to start a promising business, you should not despair. Finding an investor is real these days. The dignity of cooperation with an investor is obvious - it is a mutually beneficial process. You don't have to "bow" to a potential investor. Believe me, a person who intends to invest in an interesting and promising idea is no less interested in this than you are. Therefore, referring to persons who have free funds for investment, you should:

  • present a unique idea;
  • be able to explain all the beneficial aspects of an upcoming investment;
  • show potential profit;
  • to demonstrate the real terms of the project implementation;
  • to work out a competent business plan.

If you expect to interest an investor in words only, then the chances of success will be minimal. Investors know how to count money, for this they invest money, otherwise they would not have been able to "make" a fortune. Know how to present yourself correctly - psychological overtones are also important. Your behavior, your image should show the potential investor that there is a business person in front of him who seriously intends to take up the implementation of his idea.

Startup Exchanges

One of the ways to find an investor is to start-up exchanges. This is a modern platform, usually located on the World Wide Web, where people with common interests meet. All of them want to "make" money by implementing an entrepreneurial idea, some of them want to buy a ready-made business. On the one hand, there are people with good imagination and excellent theoretical training, with fresh business projects, on the other hand, there are people with money that they are ready to invest in an interesting idea. The task of the startup exchange is to find a suitable pair that will be able to fruitfully cooperate. Today, on the Internet, there are both start-up exchanges that have existed for more than one year, and completely "fresh" resources that have managed to attract new investors. Many of them are listed on different exchanges and regularly study offers from people.

In practice, finding a person who is willing to invest in a business is not so difficult. It is much more difficult to find a general contact with this person, to be able to interest him and convince him that it will be most reasonable to invest in your idea, in your business. The pragmatism of investors is their inherent feature, which means that you should be able to use your gift of persuasion, if any. Usually, the startup exchange acts as an intermediary between the investor and the author of the idea, earning for itself a certain percentage of the investment and acting as a guarantor of the proper fulfillment of obligations by the parties. As a rule, the receipt of profit is also carried out through the exchange and is controlled by it.

The potential earnings of an investor can be of no small importance. As a rule, the parties agree on 50-80% of the profit received by the investor. According to the established investment practice, he may well count on this amount. But if the business idea turns out to be really worthwhile, then the investor can receive hundreds and hundreds of percent a year from the money invested. Therefore, for the investor himself, the idea of ​​investing and registering an idea can be a very profitable event. Show patience and perseverance, demonstrate your best qualities, and luck will smile on you.

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Believe in yourself

You won't be successful in running a business until you believe in yourself enough to deal with the challenges that come your way. Most people are unable to bring the idea to life due to unexpected problems and difficulties, which have become more than they expected.

Entrepreneurs lose faith in themselves and give up instead of analyzing the situation and drawing up a business development plan. Overcome your fear of failure, which is the main obstacle to realizing a business idea.

Initial Analysis

Evaluate your idea in an objective and thorough analytical way. Who are your clients and what do they need? Estimate the time and money costs for starting a business. How many sales do you need to make regularly for your business to bring you good profits? Think about how you will convey your offer to customers, what distribution channels you will use, how you will inform consumers about new arrivals, offers, promotions.

Get Feedback

Use the information received

Make the necessary changes to your business plan, product. Calculate how much capital you need. Develop a plan for implementing a business idea for several months and determine who is needed in your team to fulfill this plan. You need to draw up a specific action plan to fulfill your desire, for example, a profit of over $ 3000 per month. The plan should be as detailed as possible with an indication of real terms.

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