You Have A Business Idea, Now What?

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As usual I like screening the internet to provide you with the most interesting videos about simply explained business topics. Today I found a video from Jay Adelson, a successful entrepreneur, who explains what should be your first steps after you got a new business idea. He suggests very interesting points that are worthwhile discussing:

First, he advises that once a business idea comes to you, don’t hide it thinking people are going to steal it. You need to share the idea with friends and family, let them challenge you in order for the business idea to take shape. Then, once you’ve decided to materialize the business idea, the first thing you should do is to write down into a two-page summary:

  1. What is the idea?
  2. Why it’s a business
  3. Who is the market
  4. What pain points are you solving
  5. How it’s going to make money
  6. How long will it take to prototype?
  7. How long until it gets to your market?

I hope you enjoy this very short video as much as I did!

Cheers!

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