You’re
all set to start a small business. You have the drive, the desire, and the commitment
to make it work. You lack just one thing—an idea for the business itself.
Don’t worry. Even successful entrepreneurs sometimes have difficulty deciding
their next move.
In just 60-seconds, we’ll show you the steps to come
up with the idea that will get you started on the road to small business success.
0:60
It’s All about Attitude
A positive, optimistic outlook is the foundation
for achievement. You must accept that everything you do—research, asking
questions and good old creative brainstorming—is both necessary and worthwhile
to reaching your goals. Be willing to learn and, if you can afford to, experiment.
And always use mistakes or failures as learning opportunities.
0:47 Trade
Places
Your powerful business idea may be related to something you already
do or are familiar with. Put yourself in the place of a customer and consider
what aspects of the product or service you like and dislike and what elements
might add value.
0:34 Seek Out a Sounding Board
Friends and family
are good sources of feedback, but their experience and emotions may cloud their
objectivity. You want expert advice from a person who will ask the right questions,
and not feel guilty about offering criticism. Many current and aspiring entrepreneurs
find that consulting with a SCORE volunteer counselor guides their thinking and
alerts them to hidden considerations and risks.
0:28 Research, Research,
Research
Learn everything you can about areas or types of businesses that
interest you. The more you discover, the easier it will be to spot a trend or
need that a small business like yours can fill. Sometimes, investigating one idea
will lead you to another one that is more promising or simpler to implement.
0:12
Follow the Wingwalker’s Code
In the early days of the airplane, daredevil
men and women would perform acrobatic feats on the wings while soaring above their
amazed spectators. They had a simple rule for survival that’s just as applicable
to entrepreneurs: don’t grab for something unless you already have a firm
hold on something else. In other words, conduct your small business exploration
around your current career responsibilities. There’s no pressure for hasty
decisions or investments and your mind stays free to think through ideas.
0:03
Put Your Research into a Plan
Incorporating your research and ideas into
a business plan is a good exercise that helps you assess possibilities, contingencies,
opportunities and limitations of any business idea, whether you decide to follow
through or not. The small business experts at SCORE will take you through the
steps of building a business plan and help you read between the lines.
Brought
to you by SCORE, America's small business mentors, at www.score.org.
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SCORE
is a nonprofit association dedicated to entrepreneur education and the formation,
growth and success of small businesses nationwide. Through a partnership with
the U.S. Small Business Administration, SCORE's volunteer business counselors
have been helping small businesses succeed and grow since 1964. SCORE's 10,500
volunteers provide free counseling and low-cost educational training workshops
to aspiring entrepreneurs and small business owners from 389 office locations
across the country. All of SCORE's business counseling services are available
to U.S. citizens or resident aliens.
