If and when you’re set to start a small business, and you have the drive, the desire, and the commitment to make it work. If you lack just the one thing? The idea for the business itself. Don’t worry, successful entrepreneurs from time to time have difficulty deciding their next move.
It’s All about your Attitude to the Idea:
A constructive, optimistic outlook is the basis for achievement. You must accept that everything you do-homework, asking questions and good old creative brainstorming-is both sensible and essential to reaching your goals. Be willing to learn and, if you can afford to, experiment. Take the opportunity to uses your mistakes or failures as learning opportunities. Don’t make the same mistake twice.
Stand in Your Customers Shoes:
Your powerful business idea may have a connection to something you are already familiar with. If you put yourself in the same position as your customer you need to consider the service or product, add value to them. Does the product or service meet their needs.
Seek Out a Sounding Board or Mentor:
Friends and family are good sources of feedback, but their experience and emotions may cloud their impartiality. An independent expert advice from someone with expertise and previous knowledge. They will ask you the right questions, which will lead you to make the correct decisions. They won’t feel guilty about asking the hard questions.
I think that you will find that by sharing with your fellow Club Members, will enable us all, as a group to be thinking together and will better enable us all to alert those members to hidden risks.
Research, Explore, Investigate:
Learn everything you can about areas or types of businesses that interest you. The more you determine, the easier it will be to spot a trend or need or niche that a small business like yours can fill. Sometimes, investigating one idea will lead you to another one that is more promising or easier to put into practice.
Follow the Rock Climbers Philosophy:
The rock climber has a simple philosophy to stay safe, while climbing they maintain three reference or contact points to the rock face (one hand and two feet (or derivatives) to the rock face). It is a simple rule for survival that’s just as applicable to business people: don’t grab for something unless you already have a firm hold on something else. In other words, conduct your small business investigations around your current expertise. There’s no pressure for quick decisions or investments and your mind stays free to think through ideas.
Plan, Plan, Plan:
Incorporating your research and ideas into a business plan is a good process which assists you to assess potential opportunities and limitations / risks of any business idea, you then have an opportunity to choose to progress on the idea.
We are here to take you through the steps of building a business plan and help you read between the lines.