Tuesday, November 15, 2011

Converting Business Ideas to Reality..

"I have got an Idea" - Converting Business Ideas to reality
"Ideas" are something which everybody gets frequently in this world and frequently being expressed as " I have got an Idea"!!!.

But how often are we trying to test that idea in the real world. Many times, we ourselves will bury that idea in our minds, and sometimes our family and friends discourages us on the ideas generated by us and only around one to four percent of our ideas generally get tested in the real world. These ideas may range from very small to bigger ones.

Write down the idea!
The ideas gets more validity and authenticity, when it is written down in paper. So whenever you get an idea, try to write it in a paper and re write it till the idea becomes clear and visible. Also try to derive and write down the benefits out of the implementation of ideas and the group of people or the beneficiaries who will get the benefits out of these ideas. This process will make the idea to emerge stronger and gets modified or improved if required to increase the benefits or the beneficiaries.
Major Question - Who will buy your idea?:
Who will buy your idea is the next important aspect. Who are your target customers? The next important process is the definition of customer. It is important to write down the customer groups, who can be targeted for selling your idea. Unless the idea is accepted and bought by the target customers, the idea cannot be implemented and the benefits cannot be derived. Once you are clear about the target customers, you can move to the next stage of Implementation.
Expand the idea towards Implementation:
If you want to implement the idea, how do you approach towards that? That should be the question, which you should ask yourself. What all are required to implement this idea?. It should range from the amount of money, number of people, any specialised knowledge or technology, Time to set up, Office and infrastructure, any legal compliance and approvals etc. Once you are able to define all these parameters, the idea will get more strong and powerful.
Generate Business Plan:
The next logical step is to make a concrete business plan with all the above aspects identified in detail and expanded. The Business plan should be a comprehensive document, which will give information, right from the idea to the Business Implementation and target customers with target Business. This document will act as a guide when you implement the Business idea in the real scenario.

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