Employee work is not for you. You want to feel free, you want to make your own decisions, win your own battles, and learn from your mistakes.
You have a business idea and would like to develop it, you feel that it is the winning one but you don’t know where to start.
(It’s normal, don’t worry!)
If this is your situation, then you need to read this article. It will not teach you how to make a business plan and will not give you the solution to all your problems, but it will help you to see us more clearly and (we hope) decide to deepen that idea that you have hidden in the drawer.
Let’s talk, before talking about business plans, analyzes and matrices, how to understand if your business idea can work and if it can have a demand on the market.
Evaluation of your business idea
The first step towards starting your business should be to test your idea.
Nothing to take away from your abilities, but our ideas are not always the ones that can earn us an income.
At this stage you should:
- define your idea by adding details
- do industry research and competition
- Ask other people to evaluate your idea, someone who is not as involved in the project as you are.
- Do a SWOT analysis to try to understand, in addition to the strengths you have already found, also the weaknesses and obstacles that you may encounter in its realization.
The first searches
If at the end of the first step you are still convinced of your idea, you must start planning your project better.
- Do 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 supply and demand, do a market survey. From here you will be able to understand if your product or service has requests, 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 be able to develop, propose and sell your idea.
At this point you will also have to evaluate the financial resources you have available, to involve collaborators.
If you need help to better understand the activities to be carried out, you can participate in one of the free courses offered by the Region, through company training and management consultancy companies,
Doing business is not easy, and being guided to get from the idea to the successful company is imperative.
If we look at Nike marketing director Greg Hoffman, we find inspiration in his stories:
“Traveling for me is a source of great inspiration. Brazil is absolutely one of my favorite countries and I have been going back there regularly since 1997. Whether it is architecture or furniture, the design is very modern, but with a soul. Which is the same goal that we try to achieve here in Nike? Think of the city of Brasilia, This city represents a daring 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 to think: are we going far enough? ”.
The Business Angels
When you have understood how to put your business idea into practice, created the business Idea, prepared a teaser deck, you can move on to the search for partners, investors or business angels.
Business Angels are informal non-institutional investors who can bring equity capital to your future business.
Read also: auditors in Dubai
Before presenting your business idea to a Business Angel, make sure that you have taken care of all aspects of the future business by producing the necessary documentation.