From time to time I hear collegues and friends talking about ideas they’ll like to turn into business, they think that the idea will become a huge success… until I start asking them questions:

  • Who’ll be your target market?
  • How much do you need to invest in (time and money)?
  • Are you willing to put all that hours of extra work into this idea?
  • Do you think the idea is profitable?
  • Do you have a business model in mind?

Most of the time they have not even thought about it.

A good business idea can mean money in your bank account (and if you work intelligently, it could mean a lot of money).  But you must have the confidence, the drive and the passion to put your business idea to work.

Too many entrepreneurs put off doing anything about their ideas until it’s too  late.  Don’t be one of them! Let’s assume you have energy and passion. Let’s assume too that you have a good knowledge about your business and a good level of skill in the area.  It’s important you gear your talents to your business so that you can be identified personally with your brand.  So if you’re a computer geek make sure your business has something to do with computers – (obvious eh?)

Do people need your product?

Market research is key to your success.  Do your homework and find out your target market size, define a business model,  estimate time and effort, and most important: Do people need your product? and how can you make it so that people will always buy from you?.

Always remember that quality and good service is paramount.  Make sure you offer the best quality at the best prices. And when you’re successful make sure that you continue to maintain that quality.  These are the keys to making your business idea work.  And, by the way, one final thing: Turning your idea into action can be tough: make sure that you have the support of your family before you put your idea into practice.  Starting a business can increase your stress levels, put strain on your family and take hundreds of hours of hard work. You might not make a lot of money to start so make sure that you have enough capital to keep you going through the quiet times.

And Always put your passion and energy in everything you do!