Getting caught up in the planning stages of a small business start up is the outcome and peril of a large percentage of business ideas, so what can we learn from this? How does this tie into starting your business from home or in a way that doesn't require capital in the very beginning?
In my experience there is a time for everything and I find most people get WAY of track in the details. The best way to quantify a business idea being "good" or one of the simple ways is to ask, "Does it make money", this isn't the end all, but a great place to start. My advice: Take an idea and implement it long enough to get an actual market response. Ideas, good or bad, don't really mean "crap" if they don't pass the "acid" test, which is the markets' response. Do people reach in their pocket and pay you money for your creation?
Until this happens you can't streamline, or shouldn't, I mean why would you. This isn't to say that having a plan from the start isn't important, you'll have one naturally, actually most ideas come with a start up plan if you really think about it. The plan almost creates the idea, or they are intertwined to say the least.
Here is a post I came across that talks about a few of the details entrepreneurs typically get caught up with during a start up. Also these are a few of the things that cause a person to "take their eye of the ball", so to speak.
Why Start Your Business From Home?
These are just three of the common mistakes or pitfalls to a successful business start up. Home business ideas are a great way to start a business into a market and see if the idea is one you may want to spend more time on. Another important factor to starting a business from a home office or in a way that doesn't require more overhead is the fact that you can begin to get feedback, and critical data about your idea.
This feedback or numbers, or lets just come out and say results, are what prospective lender and venture capitalists are going to pay attention to. Instead of saying " this is what I want to do" or "I think this will work", can I get some cash, you can say " This is what I did, this is what happened and If I could do this, this would likely occur". Venture capitalists are people and people trust logic first and make decisions based on the emotions that logic creates, so create a logical path to the end result you desire.
Think about the business ideas your wanting to implement this year. Could you implement them in a low cost way in order to create a group of results that would justify confidence from an investor? Would your home office adequately suffice for this trial period, what would this say about you as an entrepreneur?
Home business ideas have become some of the main commerce realities of the world we live in. We have all heard the stories about the businesses that started in a dorm room or a garage right? And we also say what the nineties did to consumer confidence in online start ups that were largely funded at the out set and used lavish business models with corporate offices and the lot.
Which ones succeed? Comments?
No comments:
Post a Comment