We all have ideas. Sometimes dozens of them. However, idea’s alone won’t convert to a successful startup business.
By themselves, an idea is nothing more than a thought. Ideas must be taken to the next level if there is any hope that the idea can actually develop. The target market must be thoroughly researched, a solid approach must be formulated and a comprehensive business plan must be developed.
Rahul Varshneya of Entrepreneur Magazine, “How to Turn a Worthless Business Idea into a Million-Dollar Startup”, offers some helpful advise for taking your ideas to startup businesses.
1. Settle on one business idea – Although you may have many seeming great ideas, you need to stick with one. Recognize that one idea that motivates you and stick with it. Give it your all.
2. Validate your idea – Your idea must now be tested with real customers. You don’t have to spend a lot of money but rather a prototype or minimum product that offers the main value of your startup. Once tested, honestly analyze your responses.
3. Execute – Ideas develop into products which continue to develop over time through constant customer feedback and use. Listen to your customers and be flexible. Be willing to make changes and adjustments.
To read the entire article go to http://www.entrepreneur.com/article/225354