We live in an interesting time in business. Large enterprise companies and corporations certainly help make the world go round, but startups are becoming more popular and common. Startups are no longer a small sect of business, but rather a formidable player in the overall business game.
As such, people with big ideas today live in one of the best eras for seeing those ideas become a reality and a profitable business venture. The big problem is – how?
It can be a challenge to figure out where to start with your big idea, which is why it’s important to seek out experts who have been there and taken ideas from a dream to a success. Our friends at The Startup Garage, a San Diego based consulting company for entrepreneurs and budding startups around the world, have a few tips to get you started:
Firmly See – And Be Able To Say – Your Vision
You have an idea – but do you have a vision? The adage, “If you can see it, you can achieve it,” couldn’t be more applicable than in a business sense. In 5 years, where do you want to see this idea go? Perhaps you have an idea for a large business that will employ many people. Or maybe you have a tech idea that you’d like to see in the hands of users around your city, or country, or perhaps even the world. Be able to articulately define your vision. This will help get more people on board with what you have been dreaming, and enable you get the right people involved to make it a reality.
Lay Out The Milestones
You are well aware there are many steps to take in order to get your idea off the ground – and frankly it can be overwhelming. This is why you need to put together a plan and take a deep breath, knowing that you don’t have to accomplish everything all at the same time. Once you have figured out your vision and are able to clearly communicate it to others, you can start to lay down the footing for the steps required to get there. Who will you want to have on your team? This will come in the team building step. How will you develop your business plan and what is required to achieve it? How much funding do you need right now to get started and how much will you need once it’s going? Sure, these are all steps that can sound daunting on the surface. However once you take the time to write out a road map for your business strategy, you will be writing out a roadmap pointed in the direction of your idea’s success.
Is Your Idea Tech Related? Get a CTO
There are many times technology related ideas come to people with little to no tech background. Is this you? That is, you know what you want as an end product, but may not have a clue how to develop it. As Michael Acheatel, President and Project Manager of The Startup Garage puts it, “The biggest mistake that a non-tech entrepreneur can make when launching a tech business is to neglect bringing on a tech savvy co-founder very early on. Otherwise, it is like launching a bakery or restaurant without a chef.” Get the right cooks in the kitchen to create the right product to bring your idea to life.
Nail Your Pitch Deck
Now that you have your vision well articulated, your plan in place and are working with the right people, you are ready to start production. Often times production cannot be executed without funding – after all, it takes money to make money. Some tips for how to crush it in your presentations to financial investors include:
- Clear definition of your business and goals.
- Avoid too many words – Write your main points but tell them them the details.
- Relevant illustrations – You aren’t there to entertain, you are there to capture attention and get results.
- Rough dollar amounts of what you need – Don’t leave them guessing.
Get Experts Involved
There are certainly steps you can take on your own in launching your idea from a dream to a reality. But not enough can be said for working with people who have been there and executed on launching successful campaigns to earn and please VC’s and get your product developed, marketed, and out into the public. Assemble a few people you trust who can provide you with the aid you need in getting started – then start shopping for experts who can advise you on the realistic steps you need to take.
As previously mentioned, one such group we recommend is The Startup Garage. This is a group of people who have come together to help people with big ideas launch successful startups. They have each either launched their own startups or helped other entrepreneurs find success in their ideas.