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NightSkye Even the most successful make mistakes. Learning from those mistakes is what separates the unsuccessful from the successful. Nikki explains how her startup business went wrong but ended up a huge success by avoiding a few pitfalls and being true to ...
Things you will need: An �aha� moment
Money
An innovation
Friends and family
A Product
Instructions: Step 1: Have an �AHA� moment. An item you wanted but you couldn�t find or an item you found but it could have been better.
Step 2: Think it through. Ask yourself, �Who are my customers going to be, how am I going to produce this, who will I hire and etc.�
Step 3: Present it to friends.
Step 4: Create a business plan. Write what you need very specifically.
Step 5: Make money.
Best of Luck.
Transcription Have you ever needed to buy something but you couldn�t find it? Or you did find the product but it wasn�t what you needed? That can be the basis of an aha moment. That instant where you think this is it. This is my big idea. And it doesn�t always have to be a brand new thing you�re coming up with. It could be an existing product but making it better. You�ve got to think your idea through. What is it, how am I going to sell it, who are my customers going to be, how am I going to produce it, how am I going to price it, how am I going to distribute it, and how am I going to turn that into a business. The way to do that, and you probably don�t, I�m sure you all have heard the expression find a need and fill that need, well that is very sound business advice I�m sure. But there are so many products out there that may not meet expectations, may not be of the quality of what people want, may not be made out of material that people want, may not offer the features of what people want that you can take an existing product or idea and improve upon that, and own that market. It�s been done over and over again. Now to bring that product to market, it�s a little bit more complicated because what you have to do is, you have to determine who is manufacturing it and ultimately how am I going to sell that and what price point am I selling that product. So there are a lot of things to think about. The law begins with that idea. And I�m a fan of a TV series and I�ve learned a lot watching that show. And more importantly I learned more by starting 4 different companies. And so I think I�m qualified to talk a little about how to start a business. Now, when you�re looking at an idea, when you get an aha moment where this could be better or this is something the market needs, to find out if it�s a good idea, ask your friends and family and get you to know what you�re talking about. And you�ll be surprised on how many people started out that way. You don�t have to hire an expensive consultant firm. Just present your idea to friends and families and ask them would you buy this thing. And if they say yes, you may very well be on your way to start a business. Now it�s time to take that idea and to begin to think it through,. You�re going to hear a lot in the business world, a business plan. A business plan is nothing more than an exercise. It�s an exercise in putting your thoughts, putting your plan in paper to make sense. It forces you to do your hw. Who your customer is, who�s going to want this item, how much is it going to cost to have made, how much is it going to cost to produce. What kind of equip do I need, what kind of location do I need, what kind of financing do I need, how much capital do I need to invest, how do I grow this business, what kind of people do I need to hire. All these things are part of the business plan. Admit tingly, Microsoft never had a formal business plan. But that was an exception to the rule.
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By eHow Contributing Writer
Article Rating: (22 Ratings)
In the growing market of online businesses, every business needs a logo to be visible, memorable and competitive. Logos can be expensive, especially for small companies and nonprofit organizations desiring to get their business on the map to success. A cost effective solution would be to create a free business logo.
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