Almost all businesses start with a good idea. Whether it was your idea or someone else’s idea, if there is a need for what you are offering, you can turn your idea into a business. Of course, you’re always going to need the bare necessities like capital, purchasing life insurance for your business, and even a location. It takes more than an idea to start and run a successful business. You’ve got to have a vision, a mission, and a solid plan.
So how do you take your idea from imagination to reality? The only way to do that is to put yourself in front of the right people, at the right time, with the right information. If your business idea requires financial support, employees, and a great product, then you have to have a plan. Like many who have dreams of owning a business, you may not know where to start.
Your idea leads to a plan, the plan requires action, action leads to success. Here are five things that you will need to turn your idea into a dream come true.
You’ll Need Validation and Support
People often allow fear to hold them back from going for the gold. When you’re starting your first business, fear of what others will think and fear of giving up comfort for the unknown can kill your idea for a business. But if you are passionate about a business idea, don’t let the fear of the unknown steal your potential success.
Change your mindset. If your mindset is focused on fear, how can you expect someone else to validate your idea? You can’t. So change your stinking thinking. You may fail, but you will definitely fail if you don’t follow your dream. Failure is always an opportunity for growth.
Be confident and seek validation from your family and circle of influence. Go meet with other entrepreneurs who have started a new business and get their advice. Listen and learn from those who blazed the trail before you. There is no need to rewrite the how-to books.
You’ll Need a Vision and a Mission
What is guiding you to success? What is your purpose? These are a few of the questions that you need to answer before starting your business. Consider what needs you are trying to meet and what value you will be bringing to your neighbors, community, state, and beyond.
Figure out your ‘why.’ Once you know why you want to do what you are doing, the rest will fall into place. Your why will guide you throughout the process. It is what fuels your passion and your vision for your business.
Next, you need to consider what your mission is for your business. Developing a mission statement that guides your business is a must. It is almost like having a target. You never set or achieve goals without knowing your goal target. The same is true in starting a business. You have to know what you are working towards.
Consider what success will look like for you and your business. Will it be helping just one person a month or 1,000 per month. Where do you see yourself in one year, five years, or ten years? How will you get there? This is where having an effective business plan comes into play.
You’ll Need a Solid Business Plan
A business plan is a formal, fluid document that outlines all of the pertinent information needed in starting a business. You’ll show it to investors, partners, and future clients to validate and outline your plans for future success. It is a must for any business.
Your business plan will be used to show future projections, how you will stand above the potential competition, and how you will achieve success. It’s like the blueprints for building a new home. You can tweak the document and make changes as you go along as needed.
You’ll Need to Brand Your Business
Figure out early on how you want your business to be portrayed. What do you want to be known for? Present yourself as if you are known for that. Offer value to others in all that you do in business. Provide knowledge and useful information regarding your brand. One day, you may be known as an expert in your field.
You’ll Need Tenacity, the Thing that Will Keep You Going
When the hard times come, and they will, you have to persevere. You may feel like you can’t climb another stair to success because the steps to success seem to grow. You will feel defeated at times and want to go back to your status quo life before the business. But I am here to tell you, you can and you will succeed. Keep pushing, even when there is no push left inside. Nothing worth having comes easy. Life doesn’t guarantee easy.
There is something extraordinary that is waiting for you on the other side of your fears of failure. Set your mind to success. Let your passion be the driving force that propels you to succeed every day you wake up. When the naysayers get in your face, turn the other cheek and walk away. Don’t ever let their negativity be a roadblock to your path toward being a successful business owner.
Robyn Flint writes for EffortlessInsurance.com and has an MS in Clinical Mental Health Counseling. Her experience in the field of mental health includes counseling children and families through outpatient counseling, program management, clinical supervision, and therapeutic foster care. Robyn is also a freelance writer and published author.