Sam Kahn believes that bringing a brand new idea into the world can be an equally exciting and stressful process, especially when it comes to starting a new business venture. Sometimes the hardest part can be coming up with the initial concept, but once you are clear on the direction you are taking then you can begin to plan and implement how to bring it to life.
In a world where business innovation and setting yourself up for success ahead of the game from the beginning is vital, Sam Kahn has come up with eight ways to support those that are wanting to gain clarity and begin to implement their new business.
The biggest issue that stops people from achieving their dreams of becoming business owners is procrastinating or being too scared to take the first step. It can be daunting, to begin with, especially if it is your first business or the first time you have brought one of your big ideas into fruition. The key is to put one foot in front of the other as you embark on the journey.
Ensure your idea is a viable business idea and not just a basic idea that isn’t really a need for people. The best way to determine this is to begin sharing it with your close family and friends, as well as a respected business mentor, in order to gain proper feedback and advice. This will also get the ball rolling with different strategies or may help you improve certain aspects of the implementation stage.
The most important next step is conducting market research on your chosen industry. You can conduct your own research on this or you can purchase an industry report which will save you time. This will allow you to determine whether your business and idea have potential, or whether you will be wasting your time.
New business concepts or new strategies and ideas will come to you in random moments. Sam Kahn says that some of his best ideas have come to him when he has been laying in bed at night or when he is making breakfast for his family. The best advice he has is always to have a notepad with you, or a recording device to record your thoughts. This can be a great way to form a starting point to expand on at a later date when you have the time to elaborate and explore.
Getting clear on who exactly you are serving and what this specific client actually needs from you. This will help you in the later stages when it comes to marketing and implementing or strategizing. Some questions to consider are;
- Is this product or service something that your target audience actually needs?
- How is this best going to support them or make their lives easier?
- Am I targeting the right audience with this product or service?
- What are the key attributes of the client I am serving? E.g how do they spend their days, what are their hobbies, what do they do for work.
Map out your client/customer journey from end to beginning to work out the relevant steps needed to implement and take action. This will help you gain clarity on what areas you will need to focus on, where you need to seek support, and what systems or processes you may need. Start with what the final product or service is, then work backwards in the process for the client and for you and your future team.
Recharge your Batteries
When you first start out in business most people think that spending every waking hour of the day working on it is the way to go. Unfortunately, most people learn the hard way that this is not the most efficient or effective way. Ensure you are giving yourself plenty of breaks and time away from the work, as this will allow for new ideas to come through and ensure you are not heading towards burnout from the get-go.
For more business tips and advice, visit Sam’s website.