3 Steps to Transform Your Idea Into Entrepreneurship
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Matthew Toren serial entrepreneur, mentor, Investor and award winning Author of Small Business BIG Vision, said, “An entrepreneur is someone who conceives an idea, creates a path to success, does whatever it takes to succeed and tries to dominate their market!”
An entrepreneur is not just a dreamer, he is a doer. It is easy to conceive an idea which has business potential in it, but it is the action that has to be taken to realise the idea into tangible terms that makes one an entrepreneur. The act is the differentiator between entrepreneurs and plain dreamers.
Most entrepreneurship starts with an idea. It takes serious hard work, time and patience to be an entrepreneur. Only the aspiring ones end up becoming real entrepreneurs as they take the route from idea to entrepreneurship with a good dose of self-analysis and awareness. It is very critical to understand that not all ideas have the potential to turn into successful businesses. Also not all aspiring entrepreneurs are ready to take on the idea to the next level.
Recognizing between an idea and the correct or potential idea is the game-changer. It is at this point of recognition that idea meets execution.
Your Skills are Where Your Business Acumen Lie
Make a list of your potentials and talents. Before embarking on the entrepreneurial journey, one must realize that money or profit comes from your skills. The first step of entrepreneurship starts with identifying your skills.
“Your skills are where your abilities lie. Business intrinsically means excelling your skills and capitalizing on them. It is much more gratifying to engage in a business where you can leverage your inherent talents rather than taking up a random idea that you cannot even relate to. Instead foster your aptitudes and eventually turn them into a business model,” advised Nitin Sharma, founder, Rentroomi.
Confidence comes with practise. Practicing something over and over helps in making the process error free and ace. According to Dhiraj Choudhary, Founder, Indifix, an augmented visual support, confidence is the crux of starting a business. “Those without confidence in the process often fail eventually as they travel through the unknown realm of entrepreneurship. It is only self-confidence in one’s in-built skills which can see him/her through in business,” he shared.
Confidence is needed for your idea to turn into a concrete reality. To start with one has to believe in his/her own idea. This is followed by the ability of the aspiring entrepreneur to bring his/her project to life. It is now axiomatic that without confidence there is no belief and without belief, the probability of conceding defeat is high.
Make Your Love Grow Into Your Passion
After skills and confidence comes passion. Passion to relentlessly pursue your idea and transform it into action!
“You could be an art aficionado, but it is your desire to be involved in art which makes you an artist. It is your deep craving to be into the process of the think you love which makes you see the end result without flinching. It is your passion for the idea which keeps your energy and vigour unmitigated till you see success,” opined Sudeshna Chatterjee, founder, i-Initiate.
It is not the monetary prospect of the idea which makes it grand, rather it is your ability to execute the idea with perfection that determines its greatness. If the idea can make use of your skills and solves an existing social or economic problem then it only requires your passion to make it into a viable business model.