What's the Big (Business) Idea?
Most people have the dream to one day run their own business and
many have a vague idea of what type of business they would like to
run at an early stage in their career, however it is important to
research what is out there and the threat of the local competition.
The internet is a great tool for this as it can give you a wide
range of information within a few clicks of a button. Henry
David Thoreau once said "The smallest seed of faith is better than
the largest fruit of happiness", this is the most important thing,
you must maintain the drive to keep moving forward and develop your
ideas to fill the gap that you believe is missing within the
market.
Get Your Commercial ACUMEN
In most circumstances people wouldn't know where to begin on
starting up their business and this is something that shouldn't be
taken lightly, however with thorough research, for example
searching on the internet or talking to a commercial solicitor, you can gain
some valuable tips and guidelines which will transform your idea to
a successful business.
People are the Key
In some cases people are uncertain of the direction that they
wish to proceed with and are waiting for the right business
opportunity. There are a number of factors which can influence a
business structure it could be as simple as hobbies and interests
or personal skills. The most successful businesses are built around
personal interests and making good use of the individuals'
personalities, by applying these characteristics to the business it
can increase performance and profitability and the enthusiasm will
filter down to the clients. "The winners in life think constantly
in terms of I can, I will, and I am. Losers, on the other hand,
concentrate their waking thoughts on what they should have or would
have done, or what they can't do" (Dennis Waitley).
Look After Your (IP) Goods & Don't
Cry "Thief"
The most important thing to remember however is that there is
never a smooth sailing business. No matter what business idea or
business you have created there is always going to be ups and
downs. However this should not put you off, Dale Carnegie once said
"The Successful man will profit from his mistakes and try again in
a different way." However to make it a little smoother there are a
number of routes that can be taken. Firstly it might be a good idea
to make sure that your idea and name is protected this can be done
easily through a trademark application.
It is also necessary that all the legal documents are up to date so
the business is covered from all angles, these can include employment
contracts, shareholder
agreements or terms and
conditions.
Remember that the plan you start with will never be the one you
finish with, but an idea is better than no idea.