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Why your great idea will work

Guest post by: Roger Pierce

Article Overview: It's not the business idea that matters, but the execution. Find out why.

Why your great idea will work



I’ve have the privilege of advising thousands of start-up entrepreneurs over the years. The most common question I am asked is, “How do I know if my business idea will work?”

Your idea will work out if you follow these five success secrets.

1. Work smart. Any fool can sit behind a desk for 12 hours a day. It’s not the amount of time you spend at your business, but rather what you do with that time. Turn on your brain and roll up your sleeves to tackle complex challenges that will really advance your business, like improving your selling skills or learning to use new technologies.

2. Start cheap. If your idea requires you to spend tens of thousands of dollars before you make one dollar, it’s probably the wrong business idea for you. Most service-based businesses can be started for under $1000. Find another way to launch for less.

3. Be better. Repeat after me: It’s not what you do in business but how you do it. Offer a twist on an existing business idea and you’ll beat the competition. (I like a particular stereo shop because they let you try their stereo speakers at home before you buy.)

4. Test it. Before you spend one dollar or one hour building your new idea, test it with your prospective customers. Too many entrepreneurs get over-excited about their idea (“I just know this will work!”) and jump in without doing any market research.

5. Find Advisors. It’s impossible to know everything about running a small business. Reach out to your personal or professional network to find an experienced entrepreneur willing to volunteer an hour a month with you.

To succeed your business idea must be written up properly as a Business Plan. No more than ten pages. By committing your idea to paper you’ll be forced to think through every angle.

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Article Tags: amount of time, br 2, br 3, brain, business idea, business plan, challenges, desk, entrepreneur, fool, market research, privilege, professional network, prospective customers, small business, stereo shop, stereo speakers, success secrets, tens of thousands, thousands of dollars



Related Forum Posts
Re: Ideas For Business - [quote="Stas Z":3hvq6dfb]Ye that would be a great idea to do! But its not going to be as easy as it may sound. This time we had an idea to make a sort of a lottery where one candy out of 50 for example, would be a winner and we would give those winners some free special chocolate bars. Hopefully it will generate more sales then ever before.[/quote:3hvq6dfb] Stas Z, You are right that the idea might seems not easy. But one thing is paramount about ideas, they have never been easy to act on, its now depend on the person who want to execute the ideas. Ideas are ever great but the executor believes always make it work. Cheers!
Re: Take Some ACTION already! - I think once you have an idea that is really solid, you need to run with it. All of your working hours should be concentrated on making it happen. Many people have great ideas but get distracted when the next great idea comes along. It's like they are opportunity hoppers. I guess they think that they'll make money quicker with this newer idea and they lose focus on what they were trying to originally build up. I hear stories like this a lot. Maybe it's entrepreneurial adult ADHD. Who knows. Don't lose confidence in an idea that you have researched and found as solid. Stick with it until you make it happen and don't get side-tracked by anything else, no matter how great it looks.
Re: Free Call to any where in the world - I tried it too ideasuniversity and as you say it doesn't work perfectly yet, it's a great idea though, take care, Carol
Patent Walk-Through - Hello everyone! My name is Alex, I'm 18 years old and I'm constantly drawing up new ideas and inventing stuff. I sketch stuff down everywhere I go and on anything I can write on. I'm a big member of our local Future Business Leaders of America chapter (FBLA). In the future I hope to work my way up to being a Venture Capitalist. I think of myself as a pretty creative person who is very motivated. Some of the ideas and inventions I come up with are pretty far out but others I consider marketable and to have great potential. Being 18, I have little to no connections and no resources. I've been surfing this site pretty frequently for the last year and have finally decided to join the forum group. Anyway, here's my question... Basically, I have no idea how to get a patent together the costs and the overall process. As of now, I think I have a great idea that, as far as I know has not, ever been done before. I'm really excited about this idea. I'm a total novice at this and am willing to learn all that I can. Any information that you can provide me with would be great. Again the main things I want to know are: 1.Overall Process. 2.How Long It Takes. 3.Costs. 4.Anything That You Think I Should Know. 5.Tips/Experiences. 6.Confidentiality. 7.Must I Make A Physical Model of My Idea? Thanks guys! -Alex
Re: Has anyone a good idea to sort this problem? - [quote="terrycan":2rlv2m58]Here is an idea sew a magnet inside the purse, close to the top. The keys would stick to the magnet. Or velcro on the case of the cell phone or on the key ring.[/quote:2rlv2m58] That is a great idea Terrycan. that could work very well. MichelleJ


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