Even your most excellent business idea is useless without proper implementation. Planning is key to success. Surely you would have a business plan. Now how does one go about its application? What steps do we need to take, and how to plan the rollout?
Let’s look at ways and means to address these underlying issues.
Planning & Implementing Business Idea
The best way to implement a business idea is by following a few simple yet essential steps. Include these steps in your plan to implement the business idea.Inventory of Resources
Taking a complete list of resources available readily is the first thing to do before implementing a business idea. It gives a clear picture of where you stand in terms of skills, finances, manpower, and other essentials.Proper inventory of resources also helps identify strengths while exposing weaknesses before hitting the market. You get time to patch grey areas while finding ways and means to exploit advantages for maximum benefit and profit.
Test Drive Your Business
Another essential element to plan for is test-driving your business. This means giving it a trial run without actually launching. The reason: A test drive, trial run, or dummy run helps fine-tune processes essential to the business. You can expect last-minute glitches: they do crop up without warning.A test drive or trial run helps create seamlessly or at least, near-seamless internal processes. This translates to faster service or product delivery to customers. Such trials also allow you to test demand for a product or service in the market. And innovate if necessary to gain that vital edge over competitors.
Seek Feedback
Amazon founder Jeff Bezos puts it very aptly: “Unless you are willing to tolerate critics, don’t do anything new or interesting.” Be ready to accept criticism of all sorts and from unexpected quarters while implementing a business idea. While some people, including family members, might show varying degrees of tolerance, others can be outright hostile. People, as a rule, resist change.You actually lower any hostility towards a new business by seeking feedback from others, especially during trial runs. Such feedback and comments help understand the market pulse. Which, in turn, provides vital inputs for innovating the product or service or scrapping it altogether in favor of a better variant. Seeking feedback from would-be or trial run customers also means you are directly preparing the market for your business. The buzz about your upcoming business would already have spread.
Generate Online Publicity
Before you implement a business idea, also plan to generate online publicity. This can be done free. Utilize social media resources such as Facebook, Instagram, Twitter, and Pinterest. Also, create a killer LinkedIn profile for your business. This helps generate some interest among genuine buyers and free API key, people seeking newer stuff or services, and the business community.An excellent way to generate online publicity is by starting your own blog. The business plan writing process can be done free on websites like Wix.com or Blogger.com. Or you can go for a proper website by buying a domain name, hosting, and other essentials. Write interesting articles about your products or services. If you can afford, do some digital marketing for the business. Online is the key to every business- small or large- nowadays. Hence, don’t lag in this area.
Staff Strengths and Weaknesses
Understanding the strengths and weaknesses of your staff hold the key to the success of your business. Hence, it should be included in your plan to implement the business idea. It’s worth remembering, the staff comes at a price and adds to your operational expenses. Hence, it’s better to hire or fire before the actual launch.These characteristics of your employees would be exposed for sure during the test drive. You won’t find time later, once the business is up and rolling. And if you will run the business single-handed or with family, you would also learn about deficiencies. If necessary, include outsourcing in your plan to implement a business idea.
Troubleshooting Mechanisms
Are these in place? Are you well geared to handle any problems or issues that may unexpectedly crop up? Both internally as well as with customers? Such effects related to service, products, or delivery are imminent. And they are nothing to worry about: every great business has been through doldrums during initial days.Having an excellent troubleshooting mechanism in place works wonders for after-sales service. It helps promptly resolve any issues a client may invariably encounter despite your best efforts. And it creates a superb impression on the market. It doesn’t leave the scope for much complains and negative publicity.
