May 7, 2008

Good Ideas can Turn into Profitable Projects (Part 1)

By admin

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I have heard so many times this typical phrase: "I don’t have much luck in the business issues". And many combinations, either way. Luck does have more to do with unplanned (and probably ephimerous) temporary success.

The point is that no one can account on luck to live successfully, because the chances to succeed are higher on the side of the pragmatic, smart and organized thinker that has enough decision, self esteem and good habits of productivity.

I have a good idea: Can it really work?

Maybe, every entrepreneur - all over the world - has been on the verge of a challenging idea bursting inside the brains. Doubt - as reasonable the level it could be - arises as the natural response of the mind, trying to establish a mechanism of protection against the unknown - ans potentially risky - new situation. In plain English, everyone fears a little when having to make such kind of decisions.

But, after gaining control of oneself, the fear is dominated and the next step is to answer the question. It will work as much as you are convinced of the feasibility of the idea - once turned into a project.

The first step: Write down the idea, let it become a project scheme

It can be as simple as a sheet of paper and a pencil, or as sophisticated as a computer program that provides useful contextual information, the first step is to put everything down: let the idea land.

At the very start, it might be difficult to cope with every little issue of the project, so do not get frustrated or let yourself alone in the procrastination tide. Start with what you know, take notes of what you need to know further and organize the information you are collecting.

Case Study: I want to sell stickers with the cartoon version of the most famous citizens of the country

Yep, I believe such stickers are cool and i am also convinced that many others would agree and buy them. What is more, i am pretty sure that i can make the designs by myself. Ok, what’s next?

First, let’s start by placing the project into safe land. What is my objective? f.i., provide fun and fashionable art to the people. And my target? f.i, everyone over 12 years old. And what about my goals? f.i., producing the best-selling stickers, 10 millions of them and sell them all by the end of December. What is the product that i will offer? Maybe, one of the most important and overlooked issue, you will have to define what your product is (given that it might well be a service and not a good). Of course, your specific answers to the previous questions can be much more elaborated.

Then, it is the turn for the strategies. Let’s say, i will sell them by the conventional and online channels. Then, i would have to build an online store to portrait the products. And, i will do some basic market research to know what the likes of the people would be towards my products. And the lines that I will focus on at the beginning. And so on.

When the basics of the project are defined, you can start with the details, which will be bounded to the initial definition. But, that is the material for the next post of the series.

Topics: Productivity |

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