How to move forward with a business idea
Turning an idea into a business can be an incredibly exciting and energizing experience. With that said, it can also feel intimidating and overwhelming if you’re not sure where to start.
Below we’ve outlined three ways to begin creating momentum around your business idea so you can take action with ease and finally start moving forward on your dream.
1. Start your business by starting with yourself
When it comes to entrepreneurship, many of us believe the harder we push, the more successful we’ll be. The faster we go, the sooner we’ll have everything we want. But this kind of thinking brings you the opposite of success. It leads to burnout and makes your entrepreneurial journey unsustainable. In order to remain fulfilled and build lasting success, your needs must be a priority in the context of your business.
Here are a few questions to ask yourself as you start moving forward with your business idea:
What do I need from my future business? (e.g., a balanced work schedule, a lunch break long enough to actually eat lunch, a certain amount of income per month, to be profitable by a certain date, etc).
What support systems and resources will benefit me at this stage?
What boundaries do I need to establish with my work? How will I maintain these boundaries? (e.g., only saying yes to work that aligns with your values, not undercharging for your services, exercising every morning, scheduling time off for vacations, etc).
2. Begin prototyping as soon as possible
If you’re in the early stages of taking action on your business idea, it’s important to develop a sample or prototype to test your assumptions and make better decisions as you move forward. Put simply, prototypes are tangible representations of your idea and they can take on many forms in the beginning.
For example, in the early days when we were developing Bedside Business Plan (a guided journal for aspiring entrepreneurs), we made it our mission to create a prototype as quickly as possible. We knew we wanted the journal to have a cloth cover, ideally navy in color to resemble a business suit, so we drove to our local fabric store and purchased various types of fabric to begin testing and prototyping.
Once we got home, we determined which fabric we liked best, cut it into the shape of a rectangle, and wrapped it around a generic journal we already had sitting at home. We used clear packing tape to attach the cloth, and just like that we had our first mock-up!
We kept this prototype on our desks for months as we developed the content of the journal. Having something to look at and hold every day was inspiring and it allowed us to stress test the cover fabric while staying connected to our vision for the journal.
If you’re new to product development, you might consider starting with a drawing or a simple mock-up using items around your home (like we did with Bedside Business Plan).
The goal here is to make the product “real” for you while allowing you to begin testing it out. Use what you have, whether that’s construction paper, clay, cardboard, fabric, items from your garage, etc. Don’t be afraid to get creative!
If you’re starting a service-based company, prototyping will look different. Instead of making something physical, you’ll want to think about how you could develop and test your service offering. For example, can you start by writing an overview of the service you’d like to provide? From there, can you create a mini version of your service and test it out with family, friends, or people in your network?
Alternatively, if you’re wanting to open a business that requires a physical space, perhaps you’ll make a vision board and include images of what you want your space to look like in the future. You might also start with a small pop-up at a local market before you consider signing a lease on a more permanent location! There are all kinds of ways to prototype and test your product or service as you look to build traction around your business idea.
Here are a few prompts to help you get started with prototyping:
How are similar products and services made and developed? (do some research on what it takes to make your product or offer your service. Consider processes, materials, partners, and resources that are required).
What’s the simplest way to make your idea real or tangible? (e.g., could you create a vision board to start, develop an outline for your service offering, make a physical prototype with simple materials, etc).
How quickly can you make your idea tangible? It doesn’t have to be perfect, but make sure you give yourself a deadline.
3. Create an action plan to get your idea off the ground
Having a clear and intentional action plan will help you remain committed to your business idea and take meaningful steps toward your vision.
Begin by brainstorming all of the next steps you could take when it comes to your idea (e.g., clarifying your needs and boundaries, developing a prototype, performing a trademark search, researching funding opportunities, speaking with a potential production partner, etc).
Once you have a list ready to go, rank your action items in order of priority. You may need to do some research to determine what you should focus on first. But with that said it’s also important to trust your gut! This is your business idea, and no one knows better than you.
After you’ve prioritized your list of action items, ask yourself the following questions in relation to each item:
By when will I commit to completing this action?
What resources or people are required to help me complete it?
How will I know when I’ve successfully completed this action item?
As you move forward on your entrepreneurial path, remember that every step matters and every action you take counts. If you need additional support or guidance as you look to turn your idea into reality, Bedside Business Plan is a guided journaling experience that will help you build a lasting foundation for success. Incredible things are in store for you!
