From Concept to Startup: How to Act on Your Business Ideas

We’ve probably all had business ideas brewing in our minds at some point in our lives. Perhaps we look at our own workplaces as an example and tell ourselves “if I was running this place, we’d be far more efficient!”. Ideas can also come from a need that isn’t being met. Maybe you and your friends have picked up a new hobby that is popular but hasn’t grown much over the past few years due to a lack of exposure, so perhaps you see potential in a niche that isn’t being reached. Maybe you’ve found out a way to make a certain production process more efficient but you’re saving it for the day you can start your own company.

Whatever it is, we’ve all got some kind of passion and we’ve all had some ideas for a business in the past, but how do you actually turn an idea into a startup? Let’s find out.


From Concept to Startup: How to Act on Your Business Ideas

You may have ideas, but can you turn them into thriving businesses? (Image)

Pick one and stick to it

Let’s face it, we’ve probably had a bunch of ideas swimming in our heads for some time so they’ll all merge together and it will be unclear what your industry-shaking idea actually is. If you’re stuck for ideas or finding it hard to get a concrete one, then take a look at articles such as this one from www.entrepreneur.com to help you solidify your ideas. Just make sure you can present your concept in a coherent manner to investors, friends and family in order to sell it.

See what others think about it

Next, you’ll want to speak with investors or people you’re close to (and trust!) so you can present to them a rough idea of what your business will be about. The most important part of this is to create the perfect pitch. It shouldn’t be too long but it should contain all the information you need. If you’re having trouble, check out this advice from www.americanexpress.com to help you create the perfect business pitch. It’s all about selling your idea quickly, efficiently and charismatically.

Act on it by starting your business officially

Next, you’ll want to register a company with yourcompanyformations.co.uk or a similar company formations service. You can do this yourself, but there are many legal considerations to keep in mind and you may not understand the entire process, so it’s best to leave this to the professionals that know how to handle it. It’s going to add extra costs to your startup fees, but it’s worth it to have a convenient turnkey solution to start your business for you.

Fail then try again next time

And of course, you’ll need to fail. Let’s be honest; a large number of startups fail within the first year because they’re simply unprepared. If you don’t actually fail then you should be glad, but that doesn’t mean you can simply sit on your success. Learn from your failures and mistakes so that you can come back prepared in the future.