Developing a Business Idea – Business Planning

Greatness is not a function of circumstance. Greatness, it turns out, is largely a matter of conscious choice, and discipline. Jim Collins

Life is full of choices and the right decision taken at the right time and executed also at the perfect hour can definitely bring success. Any business plan has to undergo three stages before it is actually executed.

    o birth of a business idea
    o developing the goals and strategy for that idea
    o creating the right ambiance and the perfect atmosphere to execute the idea

First let us consider discussing the birth of the business idea. Picking the right idea is again a most imperative choice. Many people just go by the crowd and decide to do any business which is considered as the hottest at that particular point of time. But certain things have to be speculated and analyzed before taking the first step.

    o do you think you can start and run your own business successfully
    o what are all your positive and negative aspects when it comes to real life skills and talents
    o how much investment can you possibly set aside or lend for this business opportunity
    o have you analyzed the market value or demand for the kind of business you have in mind
    o who is your target audience and will people actually accept my product or service
    o are there any competitors in this business and if so how much can I be different and capable to meet with this competition

Some ground work about the business idea is necessary and there is nothing wrong in discussing it with the forerunners in this field. Try to meet up with similar companies to find out the pros and cons of the business.

Once you come up with a business idea say to do some online marketing business then carefully draft the business strategy. Setting goals, and drafting the business plan as to the number of employees, office space, lawyers, accountants, office furniture etc is what will follow next. Getting license for the business, legal proceedings, tax factors etc is also very imperative step to go with. A business plan is like a road map to your business and it sets the right discipline in which your business will progress.

Every business should work towards achieving its long term and short term goals. Starting an online business might be less stressful financially but keep in mind that all online businesses are not very successful. It depends on what kind of business you want to do online. The least you should is the tricks of the trade. So equip yourself with the updated and hands on knowledge about the business you wish to start. Note down the marketing strategy for your product or service. Marketing has become a deciding factor of a business these days. Media promotion, web site promotion and other marketing techniques should be optimized for better visibility of the business prospects. The more people see your company’s name flashing before them the more hits you might get and this is where you should strive to make every viewer a possible customer.

A professional business plan however should contain the following,

    o Purpose of the business
    o Funds needed
    o Specifications about the product or services that your business will be dealing
    o Management members with advisors both legal and professional
    o Organization structure
    o Division of power
    o Responsibilities
    o Vision, goals, key strategies and objectives
    o Marketing strategy
    o Promotional methods like resumes, brochures, articles and logos
    o Location and office layout

Thus a complete blue print of the business idea should first be created theoretically before actually moving forward with major decisions. This blue print will give you a picture of what to expect and thus enable you to focus on the lines of the business plan that you have made. Vision is already created and hence the steps towards making this great vision come true are not very far away.

Transformation of Business

The following points help to transform a business into innovative and creative culture.

Procurement and Implementation of Idea:

To prosper the culture of any business, it is necessary to nurture the ideas instead of discarding them. An antagonistic culture does not nurture ideas and thus obstructs to keep up with the rapid changing society. If an employee hits up on a great idea then the superiors tend to avoid sharing their experiences and thoughts in fear of humiliation and rejection.

Adopt a rule that permits every employee to suggest an idea. Allow them to make only positive comments, which are expressional ideas. This significantly cultivates great ideas and implements at least some form of the ideas. Business firms need to welcome and encourage new ideas and suggestions. With proper attention, ideas often provide solutions to problems, perfect incubator for the next inventive product or service or even the next marketing promotion.

Besides, make use of generated ideas. It is not possible to create future ideas just by encouraging ideas and sitting ideally without taking any action. Never discard or reject to implement business ideas without giving adequate justification. It goes in the disinterest of the business firm and there is loss in creativity and future goodwill of employees.

Empowerment:

The empowerment of employees helps to increase initiative, innovation, involvement, speed and enthusiasm of the individuals, which stands in support of a firm’s business mission.

The quality job of leadership influences to define and encourage empowerment. However, in a multi level organization, the leadership desists to empower the subordinate. The superiors believe that ideas and initiatives from subordinates can weaken their authority and eventually their position in the business firm.

In true perspective, this is a struggle. However, by ongoing clear communication and dedication from the superiors, it is possible to overcome this struggle. It is essential for the central management to understand and realize that the subordinate empowerment is for collective as well as for personal gains. If any individual fails to understand this, it is sensible to remove that individual to avoid conflict.

Communication:

Communication is extremely essential by the point of creative place of work in a mature culture. It is the key element to implement a cultural renaissance. Leaders have to communicate in such a way that it excites and energizes their crew and at the same time helps their crew to overcome the hesitancy in adopting those proposals.

Believe in Each Member of Organization:

It is the natural tendency of people to rise on the occasion, if they believe they are reliable. Generally, many people are looking for personnel, who believe in them and hold responsibility for them.

Moreover, when they are sure of these persons, they tend to produce good results. Therefore, during business transformation, it is important to have someone in whom each member of the organization believes and who is ready to vouch for them to succeed.

Harvest Emotional Energy: Values give true credit to people’s lives. The performance of any business firm is directly proportional to its capability to tap its human potential. Most people take work as the best opportunity to express their innermost levels of creativity in search of fulfillment.

So, set clear human values and allow the corporate culture to harvest the emotional drives and creative potential of the crew members.

Small Business Rewards – Luck Or Hard Labour?

You’re seeking for the best small business ideas. You really want to make it as your own boss! Everyday you see all of these opportunities that offer a chance to escape your boring 9 to 5 life.

Are they for real? First of all, to realize any small business ideas business, takes a combination of perspiration and inspiration. If the opportunity promise you a viable small business, without much effort and a small investment, it’s not for real.

If anyone had a secret like that, I don’t think he would sell it cheap to thousands of competitors. I would for sure not. The idea of paying a few bucks and then make thousands with very little effort is just a fairytale. It’s in other words just a scam.

They push all the right buttons, they ask if you’re overworked, underpaid, want to make big money from home in your underwear. When you come across those “promising” small business ideas, you must put your filter function on. Here are a few things that should alarm your filter device:

Time limited offers “only today”, “buy now before price goes up”, “half price for the first 100 customers” and so on.

The offer is including a lot of extra bonus gifts. Do you really want and need the bonuses? Are they of any real value?

The next thing to unrest your warning system is when they present a compelling life story. They show you pictures of people who have the lifestyle you desire. Big fancy houses and cars. This is supposed to appeal to your emotions. It will make you want to become a multi millionaire, just as the people at the pictures.

They offer to share the secrets of wealth, not for free, but it’ll only cost you a few bucks. And if you’re searching for a easy way to make money, you may be happy to give it a try.

Put your scam radar on when the small business ideas, are presented with facts and figures. Some sales material will contain what you will be lead to believe real examples of earnings from the particular program. These examples are easy to doctor through image editing programs.

Notice that any sales page that contains “actual” facts or earning income figures will also carry disclaimers that “the results represented here are not typical”, or some other type of legal material to keep the seller out of problems.

The best way to protect yourself is by:

1. Take your time, don’t rush into your small business ideas.

2. Do a check on the Net, search for the product/course/idea. Evaluate what other people have to say about it.

3. Keep in mind that there is no such thing as a free lunch.