What are the begining steps to turn a potential idea into a small business that you feel would be profitalble?

Answer 1

First is to make a study if the idea you have would be feasible in your location. If yes, then you can start on putting together all mechanisms to start the business, such as capital, materials, marketing, etc. For every business, make sure that everything is on the record so that it will be easy for you to assess the situation, whether to go ahead or reconsider. Just remember, the keys to a successful business are good business sense and good marketing strategy.

Good luck.

Answer 2

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Research, research, research – this cannot be stressed enough. Read as much as you can. Here are some book titles that are relevant:

* How to Really Start Your Own Business, Fourth Edition by David E. Gumpert
* How to Really Create a Successful Business Plan: Step-by-Step Guide by David E. Gumpert
* What No One Ever Tells You about Starting Your Own Business: Real-Life Start-Up Advice from 101 Successful Entrepreneurs (What No One Ever Tells You About Starting Your Own Business) by Jan Norman
* Business Start-Up Kit by Steven D. Strauss
* Start Your Own Business (Entrepreneur Magazine's Start Up) by Rieva Lesonsky
* How to License Your Million Dollar Idea: Everything You Need To Know To Turn a Simple Idea into a Million Dollar Payday, 2nd Edition by Harvey Reese
* The Inventor's Bible: How to Market and License Your Brilliant Ideas by Ronald Louis Docie

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 3

Start by setting out a business plan. There are good sites for this. Then a good place to go next is venture capitalists. There are many, just do a search. They give an incredible amount of info on how to go about getting started and incubating your idea.
The HBD Venture Capital is geared solely for this. Check them out, they are South African but will give you step by step advice on how to set up your business plan/proposal and to move on from there.
Your local authority (municipality) should also have a smb division. They are not as proffessional but can be a great help.

go to
http://hbd.com/
then check under the resources tab at the top. A great way to get going and they give links to other venture capitalists.
Good Luck!

Answer 4

research, research, research,
ask you self how much are you willing to invest ($, time, etc..)
look for any others that have walked the same path before you for guidance, or to widen or narrow the idea at hand,
a business plan is always best that gives projections if you are going to look for investors, be sure to check out government grants, some will kick in and help cover some of the cost of getting started, if you are able to access these funds. Great luck to you in your future adventure.

Answer 5

Factors should be taken into consideration are:

Financial status
Location of business
Who will it serve
How long would it take to cover up the cost
Be specific, meaning set a date for everything.
First cover the cost and then make profits.
Minimize losses and Maximize profit.

And good luck with your business. Everthing starts from ideas.
Knowledge is nothing without imagination.

Answer 6

right that's a theory point out what your thought is so as that i will extremely answer this accuratly it is not that easy whilst all u say is u have some 'large thought' countless issues take different techniques...yet i assume if u extremely need suggestion from that small little bit of information then i could say, get a companion to artwork with you and instruct you a thank you to, launch your businuss, and promote. sorry i could no longer be greater help!!

Answer 7

first of all is brainstorming..find possible ideas as much as possible..then narrow it to more logical and suitable choice list. then pick several best of the best..you got it. i answered in general because you didn't mentioned what type of small business that you want..

by the way, i think we have similar avatar face expression.