Ask Entrepreneur

How can I turn an idea into reality without any business savvy?

I have a great idea for a business, but I'm not sure what steps to take to actually launch it.
My experience is that you need a basic understanding of business if you want to be successful in business, because without knowledge and applied action, you leave yourself open to being taken advantage of--not only in business, but in life.

That said, you can make up for a lack of knowledge by partnering with someone who has that knowledge, just realize there is a cost to partnership, and it is a business arrangement I don't recommend.

The good news is that you're "consciously incompetent," and you know you need to increase your level of knowledge. That is really the first step in getting to a level of "conscious competence" to make sure you are comfortable in the world of business.

I teach entrepreneurs and business people (as well as employees and students) that to really do well in any field or in any business, you have to "learn" before you "earn."

I firmly believe--and am living proof--that business is a skill that can be learned and practiced (and hopefully perfected) if you work at it.

The more you learn and the more you practice, the better you will get.

So don't use your lack of knowledge as an excuse not to get into the right situation or to align yourself with people or other ideas that may not be in the best interests of you or your ideas.

Get educated as to what market or consumer target would benefit from your idea. Then, get educated on business models, business formation and ways to quickly generate cash flow. You’ll be far better off in generating true and lasting wealth from your ideas and plans.

Share Your Thoughts

Today's Editor's Picks

About ASK ENTREPRENEUR

Ask Entrepreneur is a question-and-answer forum for and by the Entrepreneur.com community. Send in your burning business question, or comment on someone else's now. Have a Question? Ask Now

Topics (over 1000+ answers)

Ask Entrepreneur Q&A Hangouts

Google + Hangout With Shark Tank
Google + Hangout With Jason Falls
Google + Hangout With Angela Jia Kim
Google + Hangout With Grant Cardone

ASK Quick Tips