Turning Ideas Into A Business
So how do you go about Turning Ideas Into A Business and go from turning experience into becoming an expert? Turning Ideas Into a Business is really the next step after looking at passions, skills and talents. We may also look at a variety of areas including experiences, market needs and where people complain to develop a business or idea into a workable plan. This is really the key to starting out when starting and growing a small business. You are taking your ideas, your experiences and skills to become someone whom people ‘know like and trust’. And from this you will be able to build a loyal following and ultimately buyers to grow something worthy of you – whether you wish to have a local or community based business or be an international businessperson, It’s the same process.
BUT: Ideas can win or lose. Not all ideas are any good that’s just a fact. Your job is to do the homework to see what is working now and where there may be a room for improvement. You see, one of the biggest mistakes that un-knowing potential entrepreneurs make is that they THINK AN IDEA CAN CHANGE THE WORLD. And in some cases it might, but when seeking to enter a market it is far wiser to look at existing working business models and see where you may be able to improve upon what they have created. Am I saying scrap your ideas? HELL NO! What I am saying is be warned that if your idea is TOO RADICAL it could be way ahead of everything and thus alienate potential buyers. Make sense? It will pay you to check out this blog post I wrote…
Whether you are entering the tech space or not, ideas come and go and can sometimes be the reason you fail. So, do your homework and research first and ask….
- Is my idea too radical and do I need help exploring this?
- Will my idea work now, today or should I see where I can evolve something currently out there?
- Do I need a team and to hire experts who know about this before I commit to 10 years of tough start up work?
- Are there people out there now who would buy my idea or not?
I had to get that in there as many many people MISS THIS! Which is fatal! This is just the way life works, so the more you do the research now and know your market or sub-market the less risk involved – and I would suggest that, when you get an idea you really thoroughly look into all of the PRO’s and CON’s before pursuing it or negating it.
It is easy to say ‘No’ this is not a good idea, besides who will buy it?’ or ‘there are too many of these already, why will mine be different?’ It is these questions that you can challenge which will take you further forward. Sure, as I said – some ideas will never get anywhere, but everything starts as an idea and your idea may be in strong demand. Plus, it may change your life and path.
When you look at the marketplace, this alone is always changing and evolving and there are always areas to produce better quality products and services.
Turning Ideas Into A Business – Getting Ideas
Other things to look at when starting out is – where people complain, where you complain or where you have curiosity. There are certainly areas here for growth. Not to mention what you complain about, or notice could be better. Then there are your passions, skills, and talents – what can you offer that others cannot? What do others say you are great at (even if it is something that you have no experience in or have never worked in). On top of that you may have been through something or your family member or friend may have been through something which you gained a great deal of experience from so what could that be and how could you create a start up or be a consultant in this area?
Consultants can earn great money by giving advice on certain subjects and this may be a way for you to start with Turning Ideas Into A Business?
In fact only recently I started Turning Ideas Into A Business when I became a consultant – I was already a coach and mentor but I also now offer to give advice and search for ideas and solutions ‘which I love’ instead of just coaching people and empowering them to find answers. I knew that I could really help people with my ideas so I decided to offer both coaching and consulting. With consulting you can charge very good money and I charge £1500 per 1 hour session for my time but this is tied into packages that I offer. That’s the real power of consulting. And – people will pay you ‘when you know what you are talking about’. Even when you have to find answers yourself you can still achieve a great income. This is just one business model and example of taking your ideas and turning them into a business.
You could be a blogger, a freelancer, a consultant, a coach, a writer, a course creator, a speaker, a small business owner online, a franchise owner, a traditional bricks and mortar business owner – you get to decide. Ans there are way more options than that. In fact these days people are creating business models around them. YES you heard me, and i have been helping clients to do exactly that. So that they can leverage more time whilst earning the big bucks. This is an increasingly common option today especially as a coach where you can work on your laptop or tablet.
So, going back to ‘ideas’ there are so many options and I would advice that you start to think about what you would love to do and offer others also.
When you can match these things you could be onto a winner. Also remember that, you can start building your reputation online in social media in your immediate contact zone and also in your community. You ALREADY know some people, so build on that and be where they are to start off with. You could offer as I did free consulting to friends and locals and get testimonials and as time passes they become clients. This is just one example.
The point is that you know YOU and you know what YOU have been through that you can bring to the table and start Turning Ideas Into A Business.
I would say to work on you ideas first and keep the job and income coming in. As your develop your idea/s and start Turning Ideas Into A Startup you can start to think about how you will replace your income. You can get help from an expert or company that can coach you or mentor you when making a life altering transition and I am sure you can find the tools and resources to help you get there.
You also need to hold yourself accountable and responsible for your actions by setting goals like every 30-60 days and set yourself tasks and free work that you can offer having deadlines for each project.
Maybe you are techy and can create sales pages or you are a great social media expert or something similar and you can create pages for clients or friends and they will help you back by giving you referrals and testimonials.
This way you steadily build up a reputation as an expert and people will start paying you for your work. If you start by giving then you will receive. So, look for others in your market area that can also help you back.
If you want to start a small shop selling bread then go to other bread shops and find out what they are doing. Subscribe to their lists and find out how they offer value to their subscribers. Get into the zone of the business and get obsessive about it.
Start Turning Ideas Into A Business by studying your competition. Look at their produce try it and learn as much as you can about it. Absorb ideas and learn what makes them successful. How do they brand? What is their marketing like? How do they connect with customers? What makes their products so unique or special? Your job is to be detective and take all that you can from your ideas and from others ideas.
So, never just throw away an idea just because you think ‘it may have’ already been done, or that it has never been done. Always do your research and develop your thoughts and start Turning Ideas Into A Startup from this. And even if this idea doesn’t work, you then have the experience which begins to turn you into an expert and you gain more.
Never think that you cannot get involved in your competitions businesses either. Turning Ideas Into A Startup begins with knowing your area and going deep and narrow into something. You could work for a similar company or business or offer to help out for free so that you get to KNOW THE BUSINESS MODEL. Offer for free to do things for them and become a part of the market and business. This way you are putting yourself in their shoes and you might see where they are going wrong so take notes and get ideas on how to be better. Tbis is where innovation is a great tool.
Taking your experiences and turning them into becoming an expert is the idea here. By Turning Ideas Into A Business You will then transform your knowledge and business and create an amazing future.
So how about 10 ways to utilize your knowledge and experience to launch a new small business or career as a consultant?
OK THEN CHECK LIST for turning ideas into a Business:
1) START SMALL AND GET SOME IDEAS DOWN KEEP COSTS LOW THIS IS A FUN STAGE TO YOU GET EXCITED ABOUT IDEAS LIST PASSIONS, SKILLS, TALENTS ETC
2) LOOK AT OTHERS WHO MAY BE DOING SOMETHING SIMILAR AND GET TO KNOW THEM LEARN ABOUT THEM AND FROM THEM
3) OFFER TO DO WORK FOR FREE FOR PEOPLE IN YOUR NETWORK AND OTHER SMALL BUSINESS OWNERS TO GATHER EXPERIENCE
4) START SCALING AND ESTABLISH PRICE POINTS FOR WHAT YOU WILL CHARGE OR WHAT COSTS WILL BE INVOLVED
5) KNOW HOW TO NEGOTIATE WITH HIRING PEOPLE IF YOU ARE GOING TO KEEP COSTS LOW
6) LOOK FOR AN EXPERIENCED TEAM AND EXPERTS AND START TO COMMUNICATE YOUR MESSAGE AS AN EXTENSION OF YOU
7) IF REQUIRED LEARN HOW TO PRESENT YOUR IDEA OR HOST WEBINARS/ WORKSHOPS ETC TO STIR UP ATTENTION
8) SET UP A FEEDBACK SYSTEM WHERE YOU CAN LEARN HOW TO IMPROVE AND ADJUST
9) ASK FOR A TESTIMONIALS IN EXCHANGE FOR YOUR WORK AT THE BEGINNING
10) WORK WITH NON-PROFIT ORGANISATIONS, SMALL BUSINESSES, OTHER ENTREPRENEURS POTENTIAL CLIENTS, EDUCATION AUTHORITIES
11) ALWAYS BE FLEXIBLE AND TAKE ON BOARD ALL IDEAS
12) USE ALL OF YOUR PAST EXPERIENCES TO HELP YOU IN YOUR BUSINESS START UP WHATEVER THEY ARE.
13) TAKE A PERSONALITY TEST TO SEE WHAT AREAS YOU ARE STRONGEST IN AND HAVE A DEFINED ROLE
14) TURN YOUR EXISTING NETWORK, CONTACTS AND CONNECTIONS INTO CLIENTS/BUYERS BY OFFERING THEM FREE STUFF WHEN YOU BEGIN
15) BUILD A LIST AS YOU BUILD YOU BUSINESS
Remember that – you are Turning workable Ideas Into A Business or solution and turning experiences into becoming an expert so it is your job to use what you already know. I don’t know if you already knew this but – by 2020 40% of the workforce will be freelance or consultancy based so, bear that in mind if you want to get into this area of work as it is a growing demand.
If you have an idea/passion that you feel you want to create something from then get in touch. It is my personal expert area to help those budding entrepreneurs to express their ideas with passion, action and a clear vision. I offer a 45 minute planning session at my website where we will create a crystal clear vision and create a plan to get you from exactly where you are now to where you want to be. Simply go to www.GregDeTisi.com and click on the ‘planning session’ tab. I look forward to helping your dream become a reality.
Just a Reminder For Turning Ideas Into A Business
Look at your experiences and turning them into something
> Look also at your own unique abilities, skills, talents and what others say you are good at
> Look at where others complain and where you complain and see where an innovation or even invention or creation could work
> Look at connecting with your network when beginning
> Build rapport and great relationships with those you know offer value and then turn them into paying clients
> Build your brand with a team and with ethics, a strong vision and mission as you grow and create strong credentials to reflect your authority
> Get help from a professional coach/mentor or organisation, hire others to help you grow.
> have someone holding you accountable so you will work on your goals much more effectively every day like a coach.
There – now you have some more ideas for turning ideas into a startup! What are you waiting for?
TIPS: timing is crucial. Getting this wrong could be the difference between failure and success so bear that in mind. Also, keep things as simple as you can so your consumer/customer also feels that. And – thirdly, try to be the best in your market. Stand out be bold make a statement and be unique so that you become the go-to person or brand.
Difference between a start up and a small business
Simple really. Quite alot. A start up can take anything from 10 to 15-20 years to fully establish, you need at least 2 of you running it, a great team, amazing communication, a market share, timing is crucial, the product or service has to be on the button and it could all fail. Also, you take a cut from the takings which could be nothing for quite a long time. A small business like I run however, which is virtual and run by me has little risk, unlimited earning potential, you can see profits in as little as a week, low overheads and I can work anywhere. I am nt putting down start ups at all, I am merely sharing the facts. Start ups are notoriously hard work. My suggestion to you would be to download and study the stanford business school start ups trainings for free and see for yourself. What I teach is small business growth, it is way less risky, way more easy to grow and way less stressful to lose. The risks are way lower and there for me is way more fun when exploring passions and interests with clients.
You may also want to check out this. It’s Is A Great Link To Finding Out ‘What Type Of Entrepreneur You Really Are’. This will really help you to get some clarity on where you might want to be headed > CLICK HERE TO FIND YOUR ENTREPRENEUER PROFILE
All the best to you with Turning Ideas Into A Business
You may also enjoy another page I created about Turning Ideas Into A Business by turning passions into profits here> http://gregdetisionlinesuccess.com/passions-to-profits/
And Read this about becoming a tech startup GO HERE IF YOU FANCY YOURSELF AS A TECH STARTUP
if you need help you know where I am.
Turning Ideas Into A Business