“A half baked idea is okay as long as its in the oven” – Author Unknown.
If by now you don’t have tons of ideas of how you think you can push your business, how to raise funds, what and what can be added to the business to grow it? Don’t worry you will in no time. I can tell you at least a dozen of tines that I have moved from products to services to partnership.
Ideas are good but can be very distracting for a fairly new business, if your eyes is set on nothing you can easily be distracted. Yes, those ideas may be relevant to your business they can even be possible ladder for growth but time of implementation is very key. As a new business, you have to stick with the original plan for at least one year. This will give you a clear picture at the end of the year what potential the original business plan has, then you can ask questions like; Should I change the business plan? Should I change the business all together? Now that it has proven to work, which of the pen down ideas can I include to gradually expand?
From some articles I have read and lectures from mentors, it is usually advisable to tighten up process and delivery for the existing products or service for a year or two. Once you have a good enough number of clients, pushing the new product will be a lot easier. In including new ideas also, you have to ask the same questions you did at start up. What is the market for this product or service? Who are my target buyers? How relevant is this service to this neighborhood? How many of such is currently existing? And so on.
“A dull pen is sharper than a sound mind” Always write down your ideas, if you leave it only on your mind you may forget. Studies have shown that a good number of great inventors always sleep with a pen and pad, when ideas jump at you immediately write it down. You may forget the next minute.
I will like to read some of your experiences as a business owner and how it has shapen and influenced you personally. Thank you for reading.