www.caspot.com brings you the exclusive post of 5 Steps For Converting Ideas Into Success
We all humans are full of creativity. If
you will give me a day I can tell you a thousand ideas and if worked
well all of them can be successful. In my group I have seen so many
people who have an idea …they start working on it and fail down….so
badly. Don’t let the same thing happen with your idea….read these 5
steps to know whether you should work on your idea and will it have a
survival….if it will survive…it will get success for sure.
1) Share and discuss it with as many people as you can: Don’t hide it
Recently in a meet up of aspiring
entrepreneurs I met a guy who had recently left his job to start work on
an idea. We all were strugglers there filled with some idea in mind .
We all shared and discussed ours. When we asked about his idea he keeps
silent and said it is a secret. We all laughed because any successful
idea was not a secret. Facebook was not a secret or new idea neither
flip kart. No one can steal and grow your idea and if they did it means
they were better in creativity and execution. Everyday same idea came
into mind of lacs of people. Trust me best way to nurture your idea is
to discuss it with as many people as you can…they will tell you the
hurdles, note down and search solutions for them.
2) First of all list out your sources for revenue:
Unless you can list out some fix and
realistic revenue sources your idea will tend to fail. You may give your
services free initially but your revenue sources should be there from
day one. Even better give all of your revenue sources a name, a product
name, call them a,b,c or anything and then make an estimate that in one
year what that a,b,c can fetch you after launch and there costing
respectively.
3) Calculate breakeven point in terms of turnover and duration:
No idea will fetch you revenue without
some fixed expenses. If you planning to spend nothing and earn a
billion. You are sure to fail so make a fair estimate of your fixed cost
and then your break even, means when and where you will cross your
expanses.
4) Start your first target at break-even:
To cross break even should be your first
target for any idea. Only after that you will be able to approach
investors and seek funding for your idea. Secondly you will be able to
negotiate because your business is not dependent on funding, you can
wait for the best proposal.
5) Build your core team:
No matter how much hard working and
smart working you are. We all have 24 hrs a day only. For a long term
huge success a strong and well composed team is very important. An ideal
team for a start should have one each from finance, marketing , HR and
admin.
IF YOU HAVE
SOMETHING TO SHARE THEN PLEASE USE THE CONTACT US BUTTON OR TALK
TO THE ADMIN : NISHANT JAIN ON
FACEBOOKYOU MAY ALSO LOOK AT OUR JOBS WEBSITE :
0 comments:
Post a Comment
I Appreciate your valuable Feedback. So, Please DO NOT SPAM - Spam comments will be deleted immediately.
Thanks n Regards,
NISHANT JAIN