So you have a BRILLIANT idea that just HAS to be done….I know that feeling very well. That moment where you realize that you have a great product or service that you’d like to sell. Your cupcakes are legendary and all your friends and family have hinted that you could make a killing if you sold them. You’ve bounced the idea off of everyone you know and trust and they all agree that you have a winner?
Fantastic! All credit to you for developing a product or service that could create a sustainable income…who knows, even a profit.
But how do you know that it is a product/service that could potentially earn you billions?
I highly recommend starting with a business plan. Yes, it’s tedious and somewhat deflating…but it’s the theory that will streamline your offering and prove that your business idea is potentially viable.
There are two types of business plans that you could write:
The web is filled with many tools to inform and aid you in starting your business. Here are two rather pleasant options that I suggest:
SEDA mention an important tip:
Planning is important, but don’t become stuck in planning mode.
I feel this tip defines those who become entrepreneur’s vs. those who only dream of becoming an entrepreneur. Dream it, plan it, but ultimately, get up and do it.
Stay tuned for the next chapter on Starting a Business – Creating aBrand.