Dreams to Reality
How to transform your business idea into the real thing
Everything begins with an idea, including every business you’ve ever encountered. While bringing your business idea to life might seem daunting, there are several questions to keep in mind while you transform your dream into reality.
- How does your idea fill a need? According to a Forbes.com article, the core function of every company is to solve a problem. Ask yourself what problem your business idea can solve for your consumers or clients. Will it make their lives easier? Will it fill a need that hasn’t been met before? The more ways your idea can solve a particular problem for your consumers or clients, the more viable your potential business will be!
- Who will be your user? Think about who will use the service or product you provide. The niche you serve will be the people you will market your business to when it becomes a reality. Enhancing your consumers’ or clients’ lives is a key component of your new business. Make sure your consumers or clients see your business as the solution to their problems and it will take off in no time!
- How will you finance your business? Whether it is through the inclusion of business partners or moving forward with approaching lenders, think about how you would finance your business in order to get started. Will you need funds to purchase equipment? Or perhaps to rent a facility? Think about what funds you will need and how much necessary items will cost so you can approach partners or lenders to bring your idea one more step toward fruition!
- How will you move forward? No business is ever guaranteed immediate success – it’s a combination of inspiration and perspiration! Think about what you will do if you face a setback. How will you handle it? Will you be able to pivot your business quickly? The more you show your customers or clients that you believe in yourself, the more they will believe in your business!
As you work to make your idea a reality The University of Scranton Small Business Development Center can help! Contact the team of business consultants at 570-941-7588 or by visiting www.scrantonsbdc.com to request consulting.