Having a business idea is a gift from God, executing it, is a bigger gift. I will be sharing with you three things that have worked for me in executing my business ideas.
1. Industry Research
Starting a shoe business is cool, but what kind of shoes do people wear at this age?
Starting a food market is also cool and will fetch you some money, but what kind of food are people consuming?
Also what distinguishes my brand from every other brand doing the same in my industry?
Who are the giants in my industry?
How can I provide value and do better than what they do?
Making industry research will set you apart and give you an idea of the industry you are venturing into. You need to know if you have people in search of what you are about to offer. This tip also applies to people trying to start a personal brand.
Make your industry research, if you are about to start that business, no matter how big or small that business idea may be, you need to know what you are going into. So even if you find yourself in an elevator with Bill Gates or Jeff Bezos you will be able to pitch your idea in 10 mins, that might get you a billion-dollar deal.
2. Structure Your Idea
When I say structure your ideas, I don’t mean you are meant to know everything your business would become when you execute, I mean you create a plan for your brand
Write down your business biography, this could start with how you ventured into the brand, your passion, or the name of the brand.
Your company biography can be written by a professional content writer. Contact me on Instagram if you are looking for one.
Create a business plan that specifies full details on what your business offers, what problems you are about to solve, and your target audience. For a start, this will be needed for your personal use, but in the future, an investor might request it. When you have a full business biography that includes your business objective, benefits, and value, you are eligible to pitch to an investor at any time.
3. Collaborate With Like Minds
When I speak of collaboration, I don’t mean pouring out your ideas to one person and giving them the whole work to do. Collaboration is the act of working with someone to produce something.
Collaboration needs two or more active hands interested in the growth of an idea or project. When looking to collaborate, sometimes start with the people around you, it could be your friend or family but most importantly work with someone you know deep down wants to grow with you, someone who can create time for you and your brand. That’s why it is advisable to surround yourself with friends with value content; it could be a saving grace for your business.
Lastly, there are VCs (Venture Capitalists) with the aim to bring ideas into reality, they can help till the product stage of your brand. Do proper research to find out more about Venture Capitalists.
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About The Writer
Victory Chinakwe is a digital strategist, a business developer, a public speaker, and a writer.
She is passionate about helping businesses and individuals become more productive and gain more visibility.
As a Google certified digital skills trainer, she has trained over 3,000 people on how digital marketing works, how to stand out in their place of work and in business.
Instagram | @victory.chinakwe
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