I imagine that everyone has at some point contemplated starting a business of some kind or other; either spurred by a detailed and analytical diagnosis of current market trends or having a cool idea whilst sat in the pub.
The good news is that a lot of the best business ideas have come from impromptu ideas, although equally a lot have come from months of tireless and expensive consumer research too. Ultimately, it doesn’t matter where the idea has come from – what matters is that you know what to do with it.
You must have something to offer which is not currently available. If there is already a market for it then your idea has to be significantly better, simpler or cheaper. You will not be able to take on Nike or Microsoft overnight so regardless of how good your idea is, be prepared for a long journey and look for niches to target to get your foot in the door. Continue reading “The right way to start a business”