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How an Idea Can Become a Business

how an idea can become a businessHow many times have you heard someone say that they have a “million dollar idea” that actually sounded like it could be turned into a viable business plan? Some of the best entrepreneurs were observant of a problem that needed to be solved, or a demand for a product or service, and decided to take the leap to create a business out of it.

However, some of the best business ideas never come to fruition because it takes so much time and effort to turn that idea into a reality. We’ve compiled some suggestions on how to build a business, for when you decide to move your business idea to the next level.

Become a Convincing Salesperson

You may have an idea that you throw your heart and soul into, but if you can’t sell it to other people, then how will it go anywhere? When starting a business, you first need to figure out how it relates to other people. Is there a market for it? How does it improve their lives? If you’ve ever seen Shark Tank, you may notice that there are a lot of great ideas out there, but you have to be convincing enough to get other people behind it, such as stakeholders, investors or consumers.

Surround Yourself With People Who Can Help

Many people might get started in the process, then become overwhelmed with all of the facets involved in a running a business (like managing labor, operations, financials, and marketing). The good news is that you don’t have to be an expert in everything, you just need to find the right people who will help you launch your business to be experts in the areas you need help with.

>> Learn more about Business Design

Educate Yourself

While it’s smart to bring in experts to help you build a business, it’s even smarter to have some basic knowledge of all of the facets of overseeing and managing the business. Friends, customers, and business partners may come and go, but you will be in it for the long haul and need to know what’s happening and how things work in case you need to step in and oversee it at some time.

Stay Positive

With that being said, don’t be afraid to pursue your passion! The process of starting a business can be daunting, time-consuming, and even stressful at times, but if you are patient and truly believe in your idea, then you can make it happen. There will be ups and downs when building your business, but if you can keep your eye on the bigger picture, then it will be worth it in the long run.

A lot of people don’t take action on their great ideas because they may not have the courage, time, or resources to follow through. There is a lot to consider when turning your idea or innovation into a successful business that grows and lasts through changing times.

Taking a great idea and turning it into a sellable product or service is not an easy task, but as long as you are patient and take the time to go through all of the proper steps, then you’ll have a better chance of setting yourself up for success (or at least learn a lot in the process). When your brand comes to life and it starts to fulfill a need or desire for others, it will make the entire journey worth it.  

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The Oregon Small Business Development Center Portland Community College has  helped thousands of businesses over the past 30 years. We combine one-on-one  advising with programs taught by business experts, giving our clients the  resources they need to grow their businesses. We’ve celebrated many successes  with our clients. We'd love to celebrate your success. 

Topics: Small Business, Growing a Business