Starting A Business: The Idea!

Leave a comment

August 27, 2012 by entrepreneurapproach

Growing up, I was always around business. My dad worked his way up from working in a factory to owning his own supermarket. Both my mum and dad have owned supermarkets since I was about 5, and since then I was always in the stores helping out. It gave me a great insight into how business and people are managed and I am verythankful that I was able to experience this.

It allowed me to get a real world perspective from a young age, and as I progressed through school, it was always something that people identified in me.

With a strong interest in business, and the decision made that I was going to study business at university, I now came to the trickiest part of being an entrepreneur, obtaining the ever escaping idea.

I can remember spending sleepless nights in my small dorm room scouring my brain for the slightest hint of a successful idea. Sadly, that idea never came. And the more I tried to think of one, the further away I got from it.

One thing I always remember my dad telling me, was that one day I would stumble across a problem that needs to be fixed or someone at university who has an idea but is lacking the business skill to make it a success. This is something I failed to accept for a long time. I wanted to be that guy who comes up with everything and make everything a success. Trouble is, rarely does this actually happen, you cant know everything, but being able to contribute to something and add value to an idea is the best way to become successful

So months later, and I have about three different ideas, and one that is beginning its development into a trading company. It has taken a while to develop these ideas, but these months gone by have given me time to introduce the ideas to a variety of different people and for them to critique them.

The best advice I can give for coming up with an idea is to be patient. In the meantime, get the best education you can, become someone usefull to someone else and find what your passion is, wether it be sports, science or farming.

This way, youll get an idea of what you enjoy, youll gain a strong base of knowledge in a specific area, and with these two combined, if someone has an idea, you may be able to add a lot of value to that idea to make it something great.

What about when you have the idea?

Start looking into ways that you can protect your idea from others who might want to steal it. As I mentioned before, its very good to get people to listen to your idea and to critique it, however, you need to be careful who you tell your idea to.

Look into protection services such as patenting your idea, trademarking or copyrighting any design work involved. This will allow you to begin to develop your business while having the knowledge that your idea is safe.

An important thing I learnt is to develop a name for your business as quick as you can. This way you can look into domain names and hopefully you will be able to a .com domain. This will give your business the best advantage in growth over what you could have down without it. With the business I am currently developing now, I was lucky enough to buy the .com domain name for it. I was extremely excited as it meant my target market had just opened up to a huge amount of consumers.

Once you have the idea protected and you have sorted a name and grabbed yourself the domain name to suit, begin to further expand the group of people who know what your idea is. You can now sleep safe knowing that you can tell just about anyone and your idea will be safe.

Things to remember:

  •  Tip 1: Always be open minded, even when its your parents telling you something, 99% of the time they will be correct.
  •  Tip 2: Share your idea, you never know who may be able to help you. It will also give you a different perspective on your idea.
  •  Tip 3: Be patient, like the old saying, good things come to those who wait. Youll develop that great idea eventually.
  •  Tip 4: Protect your idea as heavily and as soon as you can.

Continue to keep brainstorming about how your idea will react to things in the long run as opposed to just the short run, look into ways the business could expand. this will get you thinking about all possible scenarios, allowing you to prepare the idea to adapt to any situation, giving you great advantage in the market.

keep brainstorming and coming up with those great ideas, but remember to be patient!

Thanks for Reading!

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: