A) Brainstorm your idea - think about how it is going to generate income. What is it about your idea that clients will want pay for? How will they get value from your idea/ product? How will it make their life easier? Be ruthless at this step - your idea might be a winner in your head - but it is important to brainstorm those ideas.
B) How do you know it is time to take your business idea to the market place? Do you have the hours required to get in behind your business, are you taking the plunge or are you going to work in your current role until you build up an income. It's not easy to start your business and we have found it is not about time, it is about MINDSET
C) There are different types of business ideas to consider
- Affiliate marketing - where you clip the ticket on other business products
- Freelancing - using your skills but within your timetable
- Products via E-Commerce or Store
- Services -promoting a way to help people
- Services and Materials - eg Plumber
D) Market Research - who else is in your workspace. This is the ideal time to think about your target market. What problem are you going to solve for your target market
E) Problem Solving - it is not about your business - it is about how you can help others.
F) Set Realistic Goals and Expectations - your business is not going to take off over night, and if it does then how are you going to keep up. Think about how to grow your business realistically without risking burnout.
G) Name your Business - Keep it simple, have a story and love your brand name. The rest will flow after you think of the right brand name.
The rest of your business will stem off these facts - once you have the basics you are then ready to register your company, find a designer for your logos, website and business marketing material.