Turning a great idea into a commercial money making

Fresh from your latest brainstorming session is your a-game idea, the inspiration you’ve been waiting on, that now needs to get off the ground. How can you avoid all of the potential roadblocks to a successful business venture, or innovation? Since a rhetoric what-next rarely helps anybody, you’ll need a concrete battle-plan that covers your foreseeable future, and then some. The best idea-birthed commercial corporations, despite their often humble beginnings, stand the test of time and criticism. No one can predict what it will take for yours to get on the prosperous band-wagon, but knowing what entrepreneurs before you have done with their businesses, will (ironically) help you stay on the front lines with yours.

Although biz-focus evolves every year, and most businesses fight for man-power, feedback from the public (potential customers) should be central to the roll-out moment for any beginning of entrepreneurship. You, as an aspiring business-person, cannot afford to ignore the craft of sales. And no good sale can be made unless you are assured your product will win your customer, and feedback, in no uncertain terms, confirms it. Feedback is a definite, measurable entity, and while it may only contribute a small percentage to shaping your long-term business plan, without it you are in essence, counting on too much. Public feedback may also gain you a sly view of your competition. Competition is fierce and will control how many business plans are executed, whenever the market is saturated with a product or service, but being unique doesn’t guarantee you an empty playing field. Feedback is the quickest way to gauge the strength of your market value.

The first three-five years of a business are its most crucial. The majority of the world’s small or medium sized ventures simply fold within that time. This is probably due to many fantastic, innovative ideas not being coupled with rock-solid, comprehensive planning. Cultivating the perfect business model for your company is half the battle won. Business plans today are more than sheaves of paper, hastily scribbled on, that will only work in theory. They are about formulating  detailed goals – financial and otherwise, that will then be implemented through every significant phrase of the business. The aspects that a business-plan may cover are too vast to list in detail. Both newly recognized and traditional ‘business-truths’ should be the benchmark to measure how viable your plan is. An example of one of them, paraphrased,  would be ‘long lasting businesses can survive in the event of a forced change of management’. Needless to say, your business plan will come to fruition as quickly as you can be whole-heartedly realistic about your investment.

Becoming a successful entrepreneur is no hit-and-miss affair. In today’s economically declining world, the hardest challenge may be to sell your idea to investors and people who can carry it to the world. Having a meticulous plan, will help reassure most investors, and keep you certain of you next move. The rest of good entrepreneurship is largely about capitalizing on opportunity, but unlike despite popular opinion, opportunities don’t present themselves to the deserving, they are created by good anticipation. Starting a new business venture is very much a case of reaping what you have sown.