There’s something in you that you HAVE to share with the world. I KNOW there is. Here’s why. You have this business idea that you think about all the time. You can see exactly what your startup will look like when it’s finished. It really inspires you. It keeps you awake at night. You feel […]
What makes a good business idea? Good business ideas are only good if they are likely to lead to a profitable and viable business. In other words, they tap into a market opportunity. We all have all sorts of ideas (all the time if you are like me 🙂 ) but not all of them […]
This is a post that is long overdue. The formula in the picture summarises my whole philosophy about what is needed to create a successful business. I probably don’t need to say any more – just leave you with the picture. But for those of you who like details, I’ll expand below. The startup formula […]
Wantrepreneur: n: someone who thinks about being an entrepreneur or starting a business but never gets started. Urban Dictionary There’s a lot of people in love with the idea of being an entrepreneur at the moment. It’s seen by some as being a twenty-first century rock star. However, these people can be more talk than […]
Entrepreneurs are often great at creating new ideas. It’s one of the things we do best. And it can become addictive. New ideas give us creative energy and fill us with optimism. We feel like we are on a high – buzzing. On the other hand, executing on our ideas seems kind of boring. The […]
You want your startup to reach lots of people right? You’ve probably heard the saying in startup circles that startups are 1% inspiration and 99% perspiration. Or that execution is more important than the idea. Well, they are correct; organisation is just as important as ideas when it comes to making an impact. Why being […]
Don’t monetise too early? Isn’t business all about making money? Am I insane or what? Yes, yes and probably yes! 🙂 There’s one point of view that says when you start a business, you should always know how you are going to make money out of it. I agree with that and I also think there […]
What difference would it make to your business, if you could tap into a never-ending source of new business ideas? What if I told you that you already had such a source that is always throwing new ideas at you? All of us have a phenomenal gift – our brains. Our brains will come up […]
Aspiring entrepreneurs have two big questions: How do I come up with a good business idea? How do I know if my idea will make a successful business? In addition to this, most new entrepreneurs expect their first business idea to be a great one. I did too! However, now I know that in my […]
Have you heard statements such as “Do what you love and the money will follow” or “Be passionate and you will be successful” ? I think they are misleading. Not because they are not true, but because they are only a third of the truth. Here are the things I think you should keep in mind when choosing a business to start (or a career):
I am a great advocate of testing your idea in the market if possible prior to launch. The benefits of doing this are that you get a lot of information that will help you build a strong business. Here are some ideas to help you do just that.
Before starting a business, most people wonder if they have a good idea. ‘Good’ is an ambiguous term. It comes laden with assumptions – which could be different from person to person. So I thought I would elaborate on what, for me, a good business idea entails.
There’s basically 3 steps to starting a business. Completing all these steps before you launch your business gives you the best possible potential for success. Leaving out one of these steps will affect your business negatively – it could mean your business is not as successful as it could be, cost you a lot of money because of mistakes or ultimately force you to close your doors.
“How do I sell my business idea? I have a great business idea but I want to sell it to someone rather than build a business myself” –
Sorry to dampen your enthusiasm, but this is not the way things work. Ideas are nearly worthless. It’s execution that creates value. People don’t buy ideas – they buy income streams.