I’m Here And I Want To Get There – Going From Idea To Start-up

The late, great Steve Jobs once said, “To me, ideas are worth nothing unless executed. They are just a multiplier. Execution is worth millions.” When it comes to knowing what makes a business great, it’s hard to argue with a billionaire. It is undeniably true that execution is what waters the seed and root of an idea. And yet, perhaps he wasn’t quite giving ideas the credit they’re due. Ideas are, after all, where it all starts. They may not end up being much without proper execution, but without an idea, there’s nothing to execute anyway. It’s all a bit chicken-and-egg-ish, but one thing’s for certain: that little lightbulb moment is where all businesses begin. The next step is getting from idea to start-up.

There is something all budding entrepreneurs quickly discover when deciding whether or not their idea will be successful, and it’s this: They are very seldom the ones who came up with THE idea, and the idea they do have is not always a bigger or better one than their competitors. It’s all about what you do with that idea – and how quickly you do it.

There is a big difference between having the right plan and doing the plan right. However, doing it right doesn’t mean doing it perfectly. If you waste an entire year honing and tinkering with it to try and get it perfect, someone else is bound to get the jump on you. Perfect is rarely the final destination of good business ideas, and the execution of those ideas is very seldom error-free. There will always be gaping holes that will test your patience, resolve and confidence, and which shake the very foundations of the idea.

It’s important to decide if your idea can actually be monetised and, if so, how? Then get your product or service into the market as soon as possible.

How Do I Go From Idea To Start-up?

Assess Your Market

Somebody once told me, “A thing is only worth what someone’s prepared to pay for it.” Thought-provoking stuff – and very true. It doesn’t matter how amazing you believe your idea to be, if no one’s prepared to pay anything for it, then in business terms, it’s not worth anything at all. So, the first step to take when you want to go from mere idea to start-up business is to assess your market. Is it big enough to make your idea financially viable? If your reach is too small, can you adapt your idea to appeal to more people? Look at what your competition’s doing and see how you can do it better. And if there is no competition, ask why no-one’s done this before.

No Man Is An Island

He knew a thing or two about the human psyche, did John Donne. People need people – and this is seldom truer than when taking your idea to start-up stage. We don’t just need people for moral and emotional support, but to actually help us get the nitty gritty, physically-making-things-happen stuff done. It’s essential to build a team that helps you get things up and running. Partner with people who can do all the things you’re not very good at. You might need a web developer, industry expert or finance guy, for example. Of course, unless these people are friends or family, they won’t normally be happy to work for free. So, negotiate equity or deferred payment to keep them on board until you start making money.

Secure Your Intellectual Property

Intellectual property (IP) includes copyright, patents and trademarks, and is the process by which you obtain legal ownership of the rights to your created product or service. By securing your IP early on, you’ll protect yourself against copycats or someone blatantly stealing your idea outright. The other side of this coin is, of course, to make sure you’re not inadvertently infringing on someone else’s IP rights. Once you know you’re in the clear, file your patent, or apply for your trademark or copyright.

Keep Your Costs As Low As Possible

Cash flow, or pretty much cash in general, is perpetually in short supply when you’re going from idea to start-up. And even once you’re fully in business, it can still take a while – sometimes several years – before things start to feel a little less tight. This is why keeping costs as low as you can is absolutely essential. One of the easiest ways to do this is to outsource functions that would cost you a fortune to run in-house. Telecommunications is one area that lends itself perfectly to third-party management.

At Huge Connect, we’re extremely start-up-friendly! With us, you get to choose exactly what tech you want, and how much of it you need. All without costly outlays for hardware. Plus, we won’t tie you into expensive long-term contracts. You can simply go month to month while you get on your feet. So why not let us take your voice and data needs off your hands, so that you can take your idea to start-up, and beyond! Let’s connect today.