Converting Ideas into Reality
Budding entrepreneurs are always in dilemma about what is going on, how to move ahead with ideas and have several question regarding how to start their business and be successful. Well one of the frequent question that comes from people who aspire to become an entrepreneur is “I have an idea! Now what?” It is the common entrepreneur issue.
Idea has no place; it might come on your head anywhere you are. Suppose you are the shower or with friends having a drink and then you have some great ideas some inspiration and really want to figure out what to do next.
The first thing you should do is share idea, share it with your family and friends. Don’t be afraid about competition or someone stealing idea. Share the idea, talk about it and you will definitely get benefit as your idea will have an opportunity to get a shape. Talking about the concept with enough people and receiving numerous feedback, you will feel idea is taking a shape.
Once you have shared idea and received feedback, start to write a business plan. Now when you hear a business plan, it is not necessary that plan should be multi pages repot with excel spreadsheets and vague words or concepts. Business plan is an act of writing your plan which is a two or three pages’ summary of what this idea is, why it’s a business, who the market is, what pain points are you solving, how it’s going to make money and ultimately how long it’s going to take for you to do things like prototype idea and get to your audience or your target market.
Go through this exercise, write it down, write it again and share it with those same friends and family. Ask for a feedback from same group of people whom you shared your idea with. This exercise might take long and make you exhausted because you need to do intense research about idea to change it in a business. But once you are ready, that’s the document you will take with you when you go for funding. And that’s how you convert your idea into reality.