Having that idea which will set you off into the stratosphere is one thing, but how do you work with a business to get that idea from your head to a tangible reality? And, how do you use the realize the idea to get maximum potential? Having a great idea is one thing, but turning it into something that generates income for you, that is where the challenge lies. Here are some ways on how to work with a business to develop that idea into a money spinner.
Have You Thought Your Idea Through Enough?
Taking your idea to businesses, you need to be completely sure that your idea is foolproof. You will be pitching it to businesses who have, no doubt, seen an idea similar to this a hundred times. Give it a unique perspective or spin. If it is the same as the next man’s, without the right spin it may not be taken any further.
Look At It From The Business Point Of View
If you come from a non-business background this is an important place to start. Businesses need to know how to best approach developing your product. They will ask many questions to things you might not have even thought of yet, such as, who is this product for? What is the business model? What are the costs in developing this product? And you will be asked, why should we work with you? If approaching a business with an idea, you need to make sure you have covered all angles. You will be asked for things you may not know about, like a business plan, what your exit strategy is, are you ready to deal with world patent marketing complaints, and if you aren’t knowledgeable on your business vocab, get online and do your research.
Ask For, And Accept Feedback
This can be one of the more difficult things when it comes to getting your idea out there. It is your baby, and you are precious about it. That is completely understandable, but if you are not willing to alter your idea or to accept comments, whether they are positive and negative, then it may make for a frosty working relationship. The ability to receive constructive criticism, and to make adjustments where necessary is not a bad thing. If you are being asked to completely forget your principles, that is one thing. But for the sake of a working relationship, be ready to alter and tweak.
Are You Ready?
Not just your idea, but in yourself, are you ready? Businesses will look to the person and see whether they can get along with the entrepreneur in a relationship sense. Are you dynamic enough to accept and resolve issues that will come up. They will look to see that you are an efficient person that is able to sustain the project through from the start to its completion. You will be communicating with people from all aspects of business up and down the corporate ladder. You will be discussing SEOs and a whole manner of ideas. In addition, you will need to speak to the customer. So, be ready to communicate on all levels.
Photo by Eric Parks
Milo Senalle
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