Throughout my short business career, I cannot tell you how many people I have had come to me with their light bulb moment business idea asking for help to turn it into a reality and become a successful CEO like Lloyd Claycomb II or any one of those highly successful CEOs in the business world. Perhaps you know what I am talking about, you could be sitting on a bus or in waiting traffic when that idea just pops into your head for a surefire business idea. The unfortunate truth is that the amount of people who actually run with their idea and turn it into a business s incredibly low. If however you are one of those people and you are sitting on an idea that you can turn into a money spinner, here is how.
Work Out Obstacles
The reason why so few people indulge their idea is because they put obstacles up as to why they cannot turn their idea into a business. This could be anything from lack of confidence, lack of funding, lack of knowledge or lack of support. The key to getting past this is to write down the obstacles that are standing in your way and then systematically work through them and find the solutions to each of you problems.
Charting The Path
The next thing that you need to do is to work out how you will make you product, who you will sell it to, how will you sell it and for what price. This is the very basis of your business model, a key component in your potential success in business. This stage will require a lot of research and phone calls from you but once you start getting facts and figures to back up your idea, you can start actually imagining the reality behind what you are trying to do.
Get The Funding
Once you have a business model, you will need to get the funding which you will need to take your business from an idea into operation. Unless you are sitting on a health amount of savings, you will need to either take your business plan to a bank and get a loan or take it to some private investors with the hope of that much needed cash injection. Anyone who is going to give you money will want to know exactly why they should invest in you so you will need to ensure that your plan is just right.
Go, Go, Go
If you have the idea, the model and the money to go ahead with you idea then it is time to hit the go button on your business and see how things work out. There will always be wrinkles to iron out and problems to overcome but the longer you wait, the more time you are losing. The key here is to get the foundation in place and then build from there.