First step – Idea: easiest bit.
Second step – Plan: Not as important as you think. A single page summary will suffice, at least until we get to revenue.
Third step – Funding: Better to use your own money. If you can’t fund it go back to first step and get a new idea.
Fourth step – Build it: This will be harder than you thought. Think QDOS. Quick & dirty operating system. Just get a product out there. You can improve it later.
Firth Step – Sell it: This is the really hard part. Getting people to pay for your product or service. In an economy and where the latest buzz word is ‘free’ this is where you can see if you’ve got what it takes. If you can’t sell, get a job in a nice safe office. Selling is the vital final step for all entrepreneurs.
Selling is the highest paid profession because it delivers the most value, not because its easy
Brief but helpful post! Thanks for sharing some valuable ideas on starting a business.
It could also be argued you can switch the fourth and fifth steps around if you can play your cards right.
Samuel Johns has a great story about funding that I’m sure will come up at coffee on Monday – you’re going to love it.