How do I convert an Idea into a Business?

[Nicklas22]

1. Figure out what problem is being solved.
2. Find your market.
3. Find your support.
4. Create a financial model and plan the first phase
5. Figure out your source of capital.
6. Build the MVP.
7. Find the pivot.
8. Stay positive.

 

[Adetayo100]

Once you’ve identified and overcome your self-limiting beliefs, it’s time to start pushing forward on your business and idea. All successful entrepreneurs are disciplined and have a high level of accountability

 

[Damismiling]

After getting a business idea, you have to run an analysis to see if the idea is solving a problem in the marketplace. That's the first step, then you need to look at factors that could affect this business from working out. One should not ignore what having a reasonable amount of money can do too.

Okay, running an analysis Is what am not getting too well, which analysis did you run, and what did you use in the running of the analysis, looking at the factors that could affect the business, I think that is proper risk assessment?

 

[Kaindio Agnes Wanja]

Well,if you need to convert an idea into business you need to be ready and well prepared to act upon your idea.
For you to take action of the idea you also need to have resources that will drive your ideas into a business and also you should try to be patient enough.
Work upon your ideas and get ready for any outcome and you

 

[Ryeetar]

Before starting up any business you need to come up with a plan first, then the next thing is deciding how to carry out that plan. If you don't have an idea of what business you want to venture into, then you are likely to fail. You must have an idea, picture how you would want your business to look like and work on it.

 

[Hammad1245]

Beginning a business is on the bucket list of nearly anybody I realize that has worked for different Startups. It just seems like the sensible following stage. The end objective. A definitive objective.

However, it's definitely not. In any event not for everybody!

Before you do whatever else, get completely clear about your reasons, aims, and inspirations driving beginning an organization. For what reason would you truly like to begin a business? Are your reasons sufficiently able to suffer difficulties and adequately convincing to endure a significant drop in personal satisfaction in different territories? Will these reasons actually be there when you have turned twice, parted ways with your sweetheart and not seen sunshine in 3 months?

Try not to mislead yourself. Beginning a business is anything but a light choice. It will transform you. To improve things, in the event that you do it for the correct reasons. For the more awful, in the event that you hurry into this attempting to make up for a shortfall that has an alternate source.

You need two things to do so. First thing is the money. To change your idea into money you need money. Second thing is the hard work. If you are doing hardwork on your work. You will definitely get it.

 

[Trojan8]

Okay, running an analysis Is what am not getting too well, which analysis did you run, and what did you use in the running of the analysis, looking at the factors that could affect the business, I think that is proper risk assessment?

Like an analysis of what will sell in your environment and how to sell it. It's not every thing that would sell in all environments. Take for example, proposing to start selling bottled water in a rural environment when you know people can't afford it. Although they actually need water but selling in sachet would be better and that's what an analysis do for you.

 

[Keibah]

Once your idea is feasible, all you need to do is make research on possibilities, similar ideas and start materialising your plan. You can start and fail, it doesn't matter. It would only help you to understand your strength and weaknesses.

 

[Godleads1]

To transform an idea into a business isn't the headache if you know your idea is not out of the blue or unreachable. After this is done, you must be able to answer the question for whom are my producing, how do I produce it, what are likely problems and so on.

 

[Milz]

Moving from thinking ideas to actual manifesting them takes a lot of hard work and sheer determination. With a solid vision of where you want to be in particular number of years, it will take courage and strategic planning to het there.

 

[Shayo]

To convert an idea into a business, you need to take an action, take a step.
Most people have great ideas but they are waiting for the perfect time to start, whereas there is no such thing, you will just keep waiting forever without getting anything done with those ideas.

 

[Nomad]

You have a great business idea. Now you need to put up a great team. Your team will do a research and try to find out whether you idea will become commercially successful or not. If the idea is deemed successful, you and your team will have to work on product development.

 

[Ifective]

Having a business idea is one way to go towards starting a business. It is important to note that a business idea is not just the only requirement to start a business
After the idea, one must have a good business plan, that is , one must write out the necessary things needed to start up the business, the products to deal on and also the target market. One must also put into consideration the means by which to make the business aware to potential customers and also how to fund the business

 

[Lekan]

To convert an ideal Into business is not is to put a knowledgeable into a something that brings you money .their are different that you must put into the business .you must move closer to the person that have run a business within some year.

 

[MarieArie]

The beginning of every business idea is usually marked with super-excitement. You are convinced that your idea is the next big thing.The first contact with customers or experts often leads to the first point of complete frustration. Usually it turns out that one has no clue about customers, their needs, market dynamics and competitors. No innovation team is protected from wrong assumptions. It is key to learn as quickly as possible.

 

[Ltherman]

Before an idea can be converted to business, you must consider the following:

1. Document the idea in black and white so that you can run through it anytime.

2. Get resources to convert the idea into business.

3. Get man power or personnel to assist running with the vision or ideas.

4. Good location for the idea turned business to make profits.

Best response i have seen so far. Having the idea slept out on paper so that it has a template to follow in the future. Acquiring the needed capital or cashflow which is the life wire of the business proves essential as you have said. Getting all these done can give an idea turned into a business a fighting chance.

 

[Kehinde]

1. Figure out what problem is being solved. ...
2. Find your market. ...
3. Find your support. ...
4. Create a financial model and plan the first phase. ...
5. Figure out your source of capital. ...
6. Build the MVP. ...
7. Find the pivot. ...
8. Stay positive.

 

[ranaabubakar263]

To build a solid foundation for your business, you need to understand who your target audience is. The reason for this is fairly obvious.Try to sell your product or service to everyone under the sun. Different groups of people have different challenges and pain points.

 

[Olaoluwa Abraham Abiodun]

Well these descriptions seems a bit excessive to me. While I agree with the message you are trying to pass. Starting a business these days is very hard,one must find the required and needed motivation/passion to soldier and stand through the test of times.

 

[Olahab]

It’s safe to assume you have had more than one idea about how to start a business or generate a new stream of revenue, right? And why? To help you save up for the down payment on your house, finally leave your 9-to-5 job, turn a hobby into a business, create some financial peace of mind,