Good ideas lead to success

Making a business idea a success

With some people, there is not just one slumbering Business idea in the drawer of her desk. When the right moment comes, one of them should be pulled out and taken to the Success led become. Many steps are necessary for this - from the correct formulation of the idea in the business plan to legal protection against competitors. If you act carefully, you put good business ideas on a sustainable basis right from the start.

The core of every start-up: the business idea

When founders or prospective entrepreneurs report on their business idea, they are usually full of enthusiasm and can hardly stop themselves. The spark that has ignited once is often retained for a long time - if it is strong enough, it lasts for decades and takes care of it again and again Innovations and a constant further development within the company. Experts differentiate between two further terms in connection with the term business idea, namely that of the Product idea and the Service idea. The differences are obvious: sometimes it's about a new product that is to be brought onto the market, sometimes it's about establishing a new service. With either type of business idea, different details matter when the company starts doing business. The Success of a product idea mainly depends on the quality of the product and the sales figures. Since it is typically expensive to develop and manufacture, many products often have to be sold for the company to be successful. A service often requires little investment before sales can begin. On the other hand, success in this area depends very much on the people involved. A service is less easy to multiply and sell in "masses". In accordance with these particularities, founders should be intensively informed about their business idea and the related Chances of success and risks think.

Business idea & business concept - this is how they work together

Not every business idea - no matter how tempting it may sound - can also be implemented in a successful company. Therefore, after the Brainstormthat led to the business idea, also create a suitable business concept. The business concept should be well structured and formulated in a comprehensible manner. It should represent the most important factors in the business idea. Business ideas that can lead to success usually meet the following criteria:

  • The market or the size of the target group is big enough.
  • The product or service has a comprehensible advantage over comparable offers.
  • The business idea can be implemented with reasonable effort and is profitable.
  • The idea is really innovative.
  • A team is ready to put the idea into practice with competence.
  • The benefit for customers is given.

Convince financiers

If a product is to be developed to readiness for series production or if a service needs to be positioned on the market, this is one big challenge. In most cases, the founders need capital to bring their business idea to fruition. If you don't have enough equity, there are several ways to get the start-up capital. In the first step, many founders speak to their house bank and have a good chance if they are well known there and perhaps even have collateral. Alternatively also come private investors questions who find an idea appealing and promising. These can either appear as individual investors with a large investment volume or as a large number of small investors. Here, too, the idea has to ignite. It has to be obvious to the potential lender - both the bank's loan officer and the private investor - that there is an opportunity here economically working company to build up. In order to meet the requirements of banks and other financiers, founders should draw up a business plan. The structure of the same is not strictly specified by the banks, but emphasis is placed on certain content. Particularly important: At the beginning there should be a page with the Executive summary - the summary of the most important content. This is followed by a description of the product or service, details on the market environment, information on the marketing plan, the team and organizational questions. The financial side must also be outlined and explained.

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