It’s estimated that about 137,000 new businesses are launched every day. Even in this super-competitive startup environment, everyone thinks they have the idea for the next Uber, AirBnB, or Snapchat.
However, very few people understand the hard work, dedication, and commitment it requires to start and run a successful company. When I first had the idea to create my online business, LivetoSki.co, I had no concept of the amount of time I would need to invest into making my company a success. With a vast amount of perseverance and resolve, I’ve now grown my online following by 2400 percent and established a community of skiers from around the world.
Still think you have the diligence it takes to bring your great idea to life? Read on for my advice on how to refine your business idea and launch it successfully.
- Workshop your startup idea. It’s highly unlikely that the first business idea that pops into your head will be the best. Take some time to refine and tweak your startup idea until you’re confident that it could be successful in today’s marketplace.
Your idea should be something you are passionate about as a person – something that you don’t mind working into the night for (because believe me, you will.) But don’t be afraid to completely scratch your first idea if you find that it won’t work out. When I first started to think about launching an online business, I was going to teach online investment courses. One day, it struck me that my side job as a ski instructor would be the perfect way to monetize an idea I was already passionate about. A few months later, my business was born.
- Do your research. Once you find an idea that you’re passionate about it, do your research. Investigate potential competitors, and make sure the market isn’t too saturated for your idea. If you have name ideas for your startup, secure your domain name and social media handles as soon as possible.
Even if you’re starting your company alone, it’s always a good idea to run your idea past a few trusted friends or family members at this stage. Collecting different perspectives on your business idea could bring to light opportunities or issues you may not have realized. Which brings me to my next point:
- Get some help. The benefits of involving other people in your startup are many. Though you probably already possess many of the skills necessary to run a successful company, no one is perfect at every aspect of business.
My knowledge of digital marketing tactics was limited when I first launched my company, so I enlisted an expert’s help in the branding, social media, and web development aspects of my business. The partnership between his expertise and my knowledge of the financial world have been a perfect match. Allowing him to head up some parts of the business also freed up some of my time let me focus on what I do best: instructing on skiing tactics.
- Start small. All successful startups start with nothing – zero users, zero funding, and zero profit – so when you finally launch, don’t be discouraged by a slow start with your company. Focus first on growing a user or customer base on organic channels like Facebook.
When I first launched my company, I began with creating an online community where skiers could become familiar with my content, as well as connect with each other to share skiing tips and tricks. Now that I’ve created this community, I understand what is most important to them, and can market to them more effectively with the types of relevant content that they want.
There’s no doubt that it takes hard work to join the ranks of today’s most successful startups. Determination and perseverance are necessary characteristics for any fledgling entrepreneur. But as I’ve shown, with commitment to these principles, your idea can turn into a launched reality.
This article has been written by Tim Harper, founder of LivetoSki.co, a community that offers video coaching training for those wanting to improve their skiing. He runs a thriving community on Facebook, too. Tim is a member of the Automated Business System.