TURNING IDEAS INTO REALITY

 

TURNING IDEAS INTO REALITY

Everyone has “great ideas” but maybe 0.1% of them actually succeed!  Today the world has changed and everyone wants to be the next big thing!  Therefore, the mushroom growth of entrepreneurs over the past decade and a half just continues to grow because as long as humans keep having ideas.  The birth of more and more entrepreneurs will occur?  

Another reason is that this modern lot is way more well informed and exposed to global affairs thanks to technology and the harsh reality that survival in this modern day uncertain savage economy is next to impossible by solely relying on their local college degree. 

Back to the main subject!  Ideas fail for many reasons but if one follows these dos and don’ts then one might have more of a chance at attaining success in making a dream into reality. 

1. When you have an idea in your mind – write it down on a whiteboard and start with detailed research about the idea. 
2. Once your research about the idea you have is complete do a complete and harsh SWOT analysis and no matter what your gut feels rely on the data within the SWOT analysis. 
3. If the data makes sense in your SWOT analysis then run the numbers that you have from your research. 
4. If the numbers make sense and add up – now you can start on developing a complete mind map 
5. Once your mind map is complete – ensure you write down (do not keep things on a computer on in your head) a solid execution strategy – this should include everything to your launch (marketing / op-ex / sales / etc. everything
6. The last document you need to have in your possession is a document that defines what your exit strategy is – where your sources of funding in the case of emergency will come from and how to protect yourself and your own business fail-safe measures

That’s it!  Now you can start implementing your idea into a reality.

Always remember that ideas are only good if there is a well thought out action / execution plan attached to them that mentions numbers.  Good luck on making your ideas into realities and if you need any free advice or help along the way – do reach out to me!

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