What’s the Big Idea? Business Ideas, I mean Business Ideas!
Often times when we consult with clients we encounter individuals and businesses that have a business idea — a passion if you will to create or produce a product or a service. Passion is a wonderful thing because it is often the catalyst to greatness. On the flip side passion can blind someone from understanding the steps involved in creating a viable business.
I know what some of you are thinking — aren’t you a creative agency? Don’t you have to think outside the box? Here is the answer in a nutshell. Yes and no.
The idea is just an idea or a dream that goes unfulfilled unless you consider what is involved to make this a real business. First ask yourself — do I want this to be a business or is it just a hobby that I can do in my spare time for fun?
Once you decide this you can make the next set of decisions. Some of the things to consider are:
Is this a physical product? • How is it produced? • How much of your time will be required to make this work? • Does it involve having some manufacture it for you? • If so, who is the best vendor to make it? • How is this product shipped? • Is this sold in conjunction with other products or services?
Are you offering a service? • Who will provide this service — you? • If so, how much of your time will be involved in getting this done? • Do you need to hire people? • What skills are required to get the right people?
These are just a few things you must consider — it may sound overwhelming but if you can just list items to start — get them down on paper it will help.
How do people find out about your product or service? • How will you market this gem of an idea? • This will require you to put together yet another list.
Do you have a budget? • Do you have business cards? • Will you market through word of mouth? • Do you have a website or need one? • What kind of message do you want to send — professional, friendly, cute, funny and the list goes on and on. • Will you need to run ads? If so — where? • Do you need to mail your marketing materials? • What is the best way to do that? • Maybe you will want to do TV or radio! You see — lots to consider here too!
This is not meant to discourage you but rather point out the possibilities that exist for you and your Big Idea. My suggestion is to review the options that exist. Share them with trusted advisors and refine that list. Put together a plan and follow-through with it always keeping in mind that it can be refined as things change. Consult a professional whenever possible and listen to what they have to say but remember it is your Big Idea!