S1E3: Develop your Idea
How do you turn something conceptual and subjective into something concrete and tangible?
This process can be daunting. Nobody wants to waste their time and energy developing an idea that may amount to nothing. This is where listening becomes important; the people close to you will tell you where the flaws are in your ideas and what needs to change.
In developing and researching your idea, you need to consider and clarify where the problems might be and how to solve them. You need to look at what is already out there and figure out how to support and strengthen it rather than trying to reinvent the wheel.
Once you’ve done your research and identified your target audience, you should decide on your business model;
To gather this information you need to create forums, safe spaces and a place where your audience can authentically share their needs. From here, your ideas can be tested and verified by utilising a minimum viable product. Entrepreneurs can then start creating solutions - be it mentoring, collaborating or offering a service where there is a demand.
Once you’ve tested, you then receive feedback, which is so valuable, it allows you to adjust and refine your product according to the needs of your audience. After this process, you can then move to the next step, growing your idea, by promotion and marketing using the technology available.
You can catch us again in a couple of weeks when we'll continue the Starting Up, Starting Out conversation with you.
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Starting Up Starting Out is a fortnightly podcast that focuses on the things you should consider before you start your business.