Starting a new business is always a risky undertaking and the smart entrepreneur tries to find ways to limit this gamble to a bare minimum. There is no such thing as risk free business beginning but learning how to approach the start up phase, how to deal with problems and how to find the best decisions can help you to overcome the difficult commence.
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Why is the start the most difficult stage of a business? There are rules how a business works. Those rules describe the relationship between the producer of a product or a service and the client. These rules do not address details of whether you have a diploma of an online finance mba or library science degrees, but it shows you ways of shortening the start. Uncertainty is the demon in each and every business idea. Will my potential customer like my new product? This question cannot be answered with a scrabble dictionary but with new strategies.
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There are actually people out there how can teach you those methods. Forget the details: nobody cares whether you share wedding bands with your better half or you have got an information technology degree; it comes down to one single task: Will your potential client like your product? How can you find that out before you invest your last penny and sell your property in Belize? The answer is quite simple. Once you have created a unique new idea about a product, make a sample. It could be a new piece of software, a new appliance or a tool. Sketches, drawings or samples will show your idea. No matter how the sample will look like, as long as the clients understand your thoughts without being masters of healthcare administration or having masters degree in project management. You will recognize their interest in your idea very soon. Learn from your experience and the input of the future clients. Pivoting and changing your direction is not a crime, it is the logical reaction on the client’s input.
If you cannot avoid the commencing stage of a new business, you can shorten it as much as possible and enter the prosperous stage soon. Let say you are a new player in the power business and you are one of the business electricity suppliers. To explain to business prospect what you intend to do is not difficult. With a well founded outline you will be able to present your idea and will find out shortly whether you have a chance to sell your idea. Just have them download winzip free to be able to view your files and you might be already in business. If the resonance is positive you will have already customers waiting for your product.
The idea is to make the start as cheap and short as possible. The solution cannot take the risk of failing away but it does not let you wait for the result very long.
If interested in the Lean Startup Methodology, check out the book on Amazon HERE.