So you have a business idea, now what?

Updated: Aug 25


So you have a business idea, where do you go from there?

  • Do you, sit on it for a while and eventually forget about it?

  • Or pass your idea onto a friend or family?

  • Do you take on a negative attitude and say, "forget it I'm never going to be able to do this, I better stay in my comfortable 9 to 5 job."

There are a lot of excuses why not to turn your business idea into a business. And you probably have a lot of reasonsons why not to start. But just imagine if you did start it. What an amazing accomplishment that would be.


I recently read an article on Medium by Ryan Sprance, he's the creator of a men's digital magazine called The Stylish Man. Anyways, in this article he talks about how he was able to grow his digital magazine to 50 million views.


So, he had an idea he wanted to do, but he didn't just sit on his butt watching TV when he came home from work. He started working like crazy. He started working 9pm to 2am. That's amazing that's really some crazy hard work. You can read his story on Medium.com


The point of this is, there are no overnight successes. You have to work hard. You need to sacrifice. Nothing in life is free and nothing happens overnight. He worked like crazy and he made it.


But what about you? You have this great business idea, you saw a gap in the market, an underserved niche, a better way of doing things, etc. What do you do?


I'll tell you, you start with a plan. Once you have that plan you begin to implement it by working hard and being dedicated to your business.


The Business Plan


According to an article by Preferred CFO, 78% of businesses fail do to lack of a well-developed business plan.


A business plan explains the how you are going to make a profit, how you are going to create a sustainable business. And it does this by showing you the the business industry you are going to enter, the market, your target, your goals, strategy, mission, vision, operations, and financials.


A business plan outlines your business, if you don’t understand the industry, market, customer wants, needs, operations etc., of your business how are you going to succeed. If your industry is predicted to have a downturn or if the economic situation is turning for the worse, you need to know these that before jumping in.


So, invest in a business plan! It’s better to invest a couple thousand to have a business plan written or spend your time to write one, than to spend thousands of dollars on a business that may or may not fail.


Dedication and Hard Work


A business takes a lot of dedication and hard work.


Depending on how much work you put into it that’s how much you’ll get out of your business.


So dedicate yourself to your business, do it as if it were your job! Don’t half ass it because you won’t get the return.


I don’t know what your situation is but a lot of times solopreneurs have to do everything themselves at the beginning. That’s taxing on your strength, time, even mind. That’s why it takes dedication and hard work.


So ask yourself, why am I doing this?


Is it to pay your debts, for a better future for your kids, to help your community, etc. Whatever it may be, keep that thought as your motivating factor, this will help you stay dedicated.


And remember the work you put into your business you’ll get out of it.


Final Thoughts There are no overnight successes. If you want to succeed at something you need to work hard.


When I started writing business plans, 8+ years ago it was frustrating. But I knew there was a need. I remember the first few months I got two clients who wanted minor jobs done.


It was super frustrating. And when I went to complain to my husband he said, "you are competing against the world!" Right away I thought he's right I should just quit! And then he said, "don't worry, keep at it, you'll get more clients. You just have to work hard."


That was so encouraging! And I thought, he's right! I have to work hard. So I kept at it and eventually I began getting consistent clients.


Don't get frustrated, write a business plan and work hard!


For more help contact me or leave a comment below.

14 views
  • Facebook
  • LinkedIn