As part of Global Entrepreneurship Week last month, it was a real priviledge to have been one of the experts selected by the British Library BIPC to deliver group mentoring sessions as part of their “Business Start Up Day” – sharing insights and advice with aspiring entrepreneurs.
As soon as the doors opened, entrepreneurs hurried over to our tables, keen to share their ideas and gather as much information as they could. It was amazing communicating with such a wide range of professionals – from a software developer to a lady wanting to transform cooking guides within her sector to another lady moving out of construction and into wellness – they were all buzzing with ideas and eager to turn them into real businesses.
As I sat there, gathering questions from my group – hearing their ideas and sharing solutions – a lovely lady said something that really hit home: “I don’t know where to start. I just really need to know the steps it takes to start my business”.
Everyone in the group nodded along with acknowledgment. They had a concept and some goals, but couldn’t find any straight-forward information to help them develop their strategy.
“Is this what you all think too?”
“Yes, we’d really appreciate a clean and clear understanding of the steps it takes to go from ideas to first sales.”
“Ok, I can do that, I can walk you through the key steps and you can ask me questions so you’re clear on each step.”
I know there are loads of people out there who feel the same – who feel the pull to realise their entrepreneurial vision, but don’t know the fundamental steps it takes to turn a dream into a business. So, here’s my approach on the steps to take to develop your business. I hope it helps.
Step 1: Set Your Vision and Mission – Know the change you want to bring to the world through your business and how you’ll do it.
Step 2: Build Your Business Model – Define how you’ll make money, what you’ll offer, and who your target audience is.
Step 3: Understand the Market – Identify who’s interested in your offerings.
Step 4: Market Positioning – Check out the competition and figure out your unique place in the market.
Step 5: Develop Your Value Proposition – Explain why customers should choose you over others.
Step 6: Build Your MVP (Minimum Viable Product) – Create the first version of your business to market and test your concept.
Step 7: Sales and Marketing Strategy – Your plan to attract your first wave of paying clients.
Step 8: Start Now – Transform your ideas into a thriving business
I hope that this process gives you a clearer framework on how to develop your entrepreneurial dreams into reality, and helps you in figuring out what support you need to realise each step.
Visit the rest of our website www.hatchideas.co.uk for more information and get in touch if you think we can support you.
