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BEFORE TURNING YOUR IDEA INTO BUSINESS

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Thinking of turning your idea into business? Not a bad move, these tips will come handy.

  • Be prepared because anything can happen, it can turn out good or bad. So you need patience, determination, enthusiasm and passion to succeed.
  • Do your research: gather all information there is to enable you succeed, know about the business you want to go into, sample peoples opinion. Investigate your competition, find out basic things they did to succeed.
  • Validate your thinking: The best form of validation by far though, is to trial your business successfully to get a feel for how it would work. That way you can get real, impartial feedback that you can use to further develop your offering, find out what problems you’re likely to encounter when you do it for real and see if you actually sell anything.
  • Gradually progress on your plan: be watchful with spending at the initial stage, spend only on fundamental basic needs, bring expenses to the barest minimum. Make sure your figures are realistic. Its key!

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