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This is how you develop a strong business idea 

Start your own business with a powerful idea 
Entrepreneurs | 04 January 2021

Becoming self-employed takes time and effort, with possibly large profits but also the risk of losses. So increase your chances of success right from the start and develop your idea well. A brilliant idea on its own isn’t enough: consider how you are going to realise it, how much it will cost you and how much you will earn with it. 

This is how you develop a strong business idea 

  A business idea in 3 steps

  1. Think of an idea 
  2. Develop it into a business plan 
  3. Test your idea 
How do you start up a business? The first step towards success is having a good idea. That doesn’t  mean you have to find a gap in the market or develop a completely new product. No, but a clearly defined concept increases the chances of successfully starting up your own business.  
 
Tipthis is how to start your own business.
 

1. Looking for business ideas? 

Try the suggestions below.
 
I have no idea yet
  • Seek inspiration online. Look at websites on emerging trends. Or get inspired by websites on how to develop an idea. 
  • Organise a brainstorming session. Put your heads together to come up with a new business idea or to further develop an existing idea. 
  • Don’t reinvent the wheel. Improving an existing concept also leads to a good idea. Find out what you can improve. And investigate the target group’s (unmet) needs. 
 I already have an idea
  • Thoroughly analyse your idea. Examine it from all angles: Where do you make a difference? What can be improved? 
  • Sharpen your entrepreneurial spirit. Sign up for one of the many entrepreneurship courses or bootcamps. 
     

2.Transforming a business idea into a business plan 

Start with a business plan and answer questions such as: 
  • How am I going to finance my idea? 
  • Where do I want to be in the long term?  
  • What risks am I incurring?

Drawing up a business plan also gives you a good overview over your idea. 
 
Tip:  What are the elements of your business plan?  
 
Thanks to a well-drafted business plan you will get an insight into the viability of your new business and have a clear plan in mind. 
But even after start-up, a business plan remains useful. Many entrepreneurs check it regularly (monthly or at least annually) to see whether they are on target.
  • Do you need to make adjustments? 
  • Are you on schedule? 
  • Are there any new opportunities (or challenges) you haven't thought of yet? 
You should therefore regularly adapt your business plan to your situation. Whenever you have to go to the bank e.g. for extensions, they will also ask about your plan. 
 
However, it isn't always easy to start writing a business plan right away.  First elaborate on your business idea using a business model canvas
 

3. Test your idea

You have a clear business idea? Great.  
Probably you' re absolutely convinced that your concept will catch on. Nevertheless, it is worthwhile testing the viability of your idea. After all, it would be a pity to invest in a shop or webshop that isn’t viable.  
You do this by drawing up a business plan, but after that you need to effectively test your idea in reality. 
Ask yourself some crucial questions: 
  • Is your idea based on a sustainable need? Or a temporary trend? 
  • Is there a market for your product? Is the market already saturated? 
  • Is your target group willing to change its habits to choose you? 
How do you answer these questions? It’s simple: carry out a short survey. Test your business idea with friends, family, acquaintances or experts. Their honest feedback is worth gold. It validates your project and provides ideas to further improve it. 
No need to be afraid that they will steal your idea. On the contrary, perhaps you will find a partner to make your dream come true. 
 
You can only be completely sure that your idea is viable if people are indeed willing to pay for it. The question that keeps many starting entrepreneurs awake is "Will I have customers soon after having started my own business?". 

That’s why we recommend prospecting beforehand. Talk to contacts you consider to be a target audience. If they don't care for your idea, you may have to adjust it. However, it's better to find out now than when you have already started. But in the best case, you will immediately convince a few people to become customers and get off to a flying start! 
 
Tip: Also read these 5 important pitfalls for entrepreneurs

 

Is the market ready for your idea?

Discover your personal step-by-step plan here. 
 

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