You might have heard of a successful entrepreneur who started out with a great business idea. The reason the entrepreneur became successful is because of what became of that business idea. The entrepreneur knew all the right steps to make an idea become a reality, and the entrepreneur knew how to make that reality a success.
Nearly everyone has had a great idea at some point or another. Could that idea have made them millions? Possibly. The truth is, they’ll never know because they didn’t know the next step to take. Don’t become that person. If you have a great idea, here are some tips for what to do next.
1. What Makes the Idea Good?
Now that you have an idea, it’s time to put that idea through some tests. The first test is knowing why you think your idea is a good one. Does your idea offer a solution to consumers? Does it offer worthwhile entertainment? Are there people who would want the product or service your idea offers?
Ask yourself some tough questions about your idea. If only a few people would benefit from it, it’s not likely an idea that will have much gas.
2. Is Your Idea Original?
If your idea is original and it has passed the questions in the first phase, you may need to consider applying for patents before taking any further steps. If it isn’t original, then you need to ask more questions, such as why would anyone who uses the product in its currently offered state want to switch to yours?
Your competition has the upper hand because they already exist. It can be hard to compete unless your idea brings something great to the table.
3. Test Your Idea
After reviewing numbers 1 and 2, you still think your idea is great. Now it’s time to take it to your audience. Talk to people, and that doesn’t mean family and friends. Get out and talk to people who would actually use your product and get their feedback.
Offer something in return for their time, such as a fast-food gift card or another small gift. People are naturally curious so will be more than willing to talk to you, especially if you offer them something in return for their time.
If your business idea makes it through the consumer testing phase, you could be on to something. Your final step is to actually build your business, and whether it succeeds or not, you have stepped into the shoes of an entrepreneur.