Every business was a worthless idea before the owners and founders took inspirational steps to make the idea a successful business. The business idea is the seed that will result in a fruitful product or service company. One will need a proper care and maintenance to make their ideas bloom. Ideas need one to conduct a study on the target market, have a good strategy and a clear business plan and motivation and drive to make it a success. In this discussion, the main idea is to explore on how an idea can be turned into a successful business.
The ideas can be many and both will be showing the potential of becoming a success. But, one need to settle on a sole idea that moves them and that makes one have some passion about holding on onto the idea. The second step is to validate the idea because it is worthless if the idea is kept a secret and not testing it with the actual customers. It is worth writing a business plan that displays all the projections through a study on the market. To get the customers while still on the idea stage, there is a need to build a viable product or a sample of the product. A prototype in the form of a PowerPoint presentation or a dialogue box can work in the case. Sharing the prototype with your networks and connections will give feedbacks that will make you see if the product or service will be solving the problems of the customers.
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Many people have believes on the “million-dollar-idea” theory. But, in a real sense, there is nothing like a million-dollar idea. Ideas often evolve into products that then evolve over a period of time through customer feedbacks, reviews, and comments. The prototype or a sample product has to get to the hands of the consumers and allow them to decide whether the idea is valuable or not. It is worth starting up a business when you know that the target customers are in need of the product or that they are interested in the service.
It is then important to find a market and not waste time on the idea that has a little audience. The idea has to be scalable and also solve the needs of hundreds of customers. Validating whether the issue being solved is a problem of many people will be important. The idea is to solve the problems of many and not just yours or a few. The idea needs to be based on a large audience and the product needs to have the potential to grow into a larger and a more successful business.
The last step before taking a product to a market is to spend some time getting to know whether the product is a necessity or just a nice one to have. The products that appear to be nice to have may not be compelling to the customers. Thus, validating the idea and building something that can give actual millions is worth spending time and resources.
An idea can be great at first but the market or the target customers may not make it as great as it looks. An idea that seems to be inferior might be one that will catch eyes in the market and result in good yields. It is thus important that the market is taken into consideration and the desires of the customers be definite. Then, the idea can be turned into a scalable successful business.
