Moming up with a great business idea is just the beginning of the journey of an entrepreneur. But many people believe starting a business is a cagey process. They know they want to start a business, but they don’t know the first steps to take. Although there are lots of opportunities, finding one that excites you can sometimes feel tougher than it appears initially. Entrepreneurship however, requires more than just discovering an idea that can make a lot of money. For entrepreneurs to blow into the motivating power that initiatives long-lasting triumph, the ideas they apprehend must be potent enough to change the world through major economic, social or environmental impact. In case you want to establish a business of your own but have no idea how these few tips can be considered while generating business ideas. Focus on your passion What are you good at? This might be an excellent opportunity to turn that skill or talent into a business. Businessman, Alain Nshimimana, notes that it is also imperative to study successful entrepreneurs as it is hard to know what your next move is if you don’t know where the great entrepreneurs are before you have been. Read real life stories and study successful business giants. Use your smartphone Nshimimana explains that if you are thinking of creating an app, but you are not so certain about what you want to create, search through the app store. From your own smartphone, you can build and test mobile apps for your own venture and sell them for a profit, or you can even contract with other companies to create apps for them. Network According to the entrepreneur, networking is about cooperating with people and engaging them for communal benefit. It can help you inaugurate a new business or grow an existing one. You can also use networking as a device for finding investors, customers, staff, suppliers, and business partners with minimum cost to your business. Find something that you love doing “Sometimes it might take more than just your opinions but for other people too. Feel free to ask the people who know you closely when you seem the happiest and what you do the most devotedly,” he says. Nshimimana adds that you can also identify someone whose career you would most want to emulate. Reach out to them to learn more about how they got to where they are, if that’s not possible, read everything you can about their career and life. The influence of social media To him, if you have identified what it is that you love, get busy on Twitter, Facebook, and LinkedIn, connecting with people who share your areas of interest. Read blogs, join forums, and find out what it is really like to do what you love. Be sure of what you like There is no harm in going online and browse for business ideas that appeal to you. Remember to write everything down, even if the businesses requires a lot of capital to start yet you don’t have that kind of a budget, Nshimimana adds. Business model Decide on your business model. These are the questions you need to ponder on. Will you sell a product or a service? Online or offline? Small or big? Home-based or office building? Size the value of your solution in the target segment. The business expert also points out that it is important to confirm that your product or service solves the problem, test your channel and support strategy, talk to industry experts and investors, plan and execute a trial or local rollout and mainly focus on gathering customer references. Draw upon your own personal experiences. The most influential world-changing ideas come from the experiences and challenges an entrepreneur has faced in his or her own life. Take a moment to reflect on the problems you are presently dealing with. These problems could be affecting your current business endeavors, personal life, or home, he urges.
