Monday, April 1, 2013

How to Turn a Worthless Business Idea into a Million-Dollar Startup | Entrepreneur.com

How to Turn a Worthless Business Idea into a Million-Dollar Startup | Entrepreneur.com:

Everyone has ideas. I get ideas by the dozen. When I’m brushing my teeth, when I’m driving to work, when I’m at my desk reading an article. But that does not mean that all can be converted into million-dollar businesses.
Not that these cannot be converted into million-dollar businesses, but I may simply not be driven enough to see those particular ideas through to that milestone.
You may get many ideas, too. But if you don’t, don't despair. You don’t need ideas to start a business. Regardless, your business ideas are worthless. Let me explain why.
Ideas are just ideas. An idea is the seed of a successful product or service. Without proper care and maintenance, it will not bloom. Ideas require solid research of the target market, a good strategy and a sound business plan, without which, ideas cannot go much further.
If you want to start a business and make a go of it, you need more than just an idea. To begin turning startup dream into a million-dollar business, consider the following advice.
1. Settle on one business idea.
If you're mulling a number of ideas, odds are good that none of them will see the light of the day. Why do I say that? Because your approach is all wrong. Skimming through different ideas every day and figuring out whether they motivate you or whether they work won't get you anywhere.
The amount of time you’re spending on them will likely be insufficient. An you're probably not passionate about any of them. So how do you fix it? Take one idea that moves you, that you feel most passionate about and stay with it. Stay with one till you can’t go any further. Until you’ve given it your all.


Read more: http://www.entrepreneur.com/article/225354#ixzz2PFRlmFv7

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