Any entrepreneur will tell you how they toyed with many business ideas, how they employed trial and error because they did not know which one cold actually work out for them. In many cases those ideas that looked like they were the brightest end up failing and not seeing the light of day. The one important thing that most people have learned is that they did not have to reinvent the wheel in order to make it great in the world of business.
You can think of great businesses such as McDonald’s that did not have to create something new in order to be successful but instead found ways to improve what already existed.
Profitability: Whatever idea you have that you want to try, you must do your math well such that final cost of your product or service will be reasonable and at the same time ensure that you retain a profit. You must have seen many initial inventions that are so expensive it actually limits their entry into the market. Your key to success therefore is getting the price right; plan your production carefully so you can sell your stock without much ado.
Insist on quality: There are cases where small business people get temped to make compromises on quality especially when figures begin to stack up. One thing you must remember is that when it comes to business, your product or service is your lifeline and its quality will have a direct bearing on your reputation. You need to test your product or service thoroughly and whatever you come up with; you must ensure that the quality is at its best.
Creative versus practical: There is a delicate balance to be maintained during the production especially regarding the creative process. There are many times when the initial flash that actually set the entire ball rolling gets lost when people are trying to balance creativity and practicality. If you have been endowed with an idea, you will be better off getting a qualified technical person who can create the balance between what and how. Having a great idea is one thing and having the necessary expertise to bring it to existence is another; you may want to create a partnership with the person who can link your idea with reality.
Perseverance is crucial: One thing is for sure, Rome wasn’t built in a day. You will need to spend sufficient time before your idea becomes accepted even by the most brilliant minds, including the people that it is suitable for. This means that you don’t just give up because nice things have this habit of coming to only those people who can wait. If you have dome your bit in researching the idea and you have taken it through all the necessary checks, stand your ground and don’t throw out your idea because someone you really had built hopes on did not accept it.
Be open to change: Remember that even the best ideas have been developed over time. Don’t rest on your laurels because your idea was accepted but keep researching so you are always one step ahead; talk to your consumers and keep an eye on competitors with business software as you move along.