ENTREPRENEURSHIP 101: Turning your idea into an actual business

We all have had some version of a business idea.

I am sure you have had conversation which goes along the lines of “if only I had spent that money on creating a business.”

The truth is Having a business idea is one thing, turning it into a profitable business…well that is where it gets interesting.

And so how do you do that?

This is what we intend to look at in this course

We intend to analyze your idea and hopefully turn it into an actual profitable business

You are going to find answers to the following questions

1. What problem is your business idea trying to solve?
2. How do you plan to solve the problems?
3. Which specific customers are you serving in your business?
4. What value are you going to offer your potential customers?
5. What is it about this business idea of yours that makes it hard to copy?
6. How much will it cost you to run your business?
7. How do you plan to get your customers?
8. How do you specifically plan to generate revenue?
9. How will you keep track of performance?

Finding the right answer to these questions will meaning creating a plan that increases your profitability chances.

These questions aren’t just for when you are starting a business, they can help you when you are formulating your business plan, product launches, campaigns and even communicate with investors.

I just want to point out that while by the end of these video series you will have developed a plan for your business, there is a dark side to business plans or as Steve Blank, an entrepreneur, educator, author and speaker, puts it “business plan [is] a document investors make you write, that they don’t read”.

So, the idea is not to obsess with writing rather the focus should be on execution

Look the thing you have to know about building a profitable business is efficiency, meaning what, meaning elimination of waste which includes: time, process, inventory etc

So, let’s get the idea faster out of you head and make it profitable