Business concept

A good idea is only a good business idea if you are able to make enough
money from it. Sufficient money for you and your family to make a decent
living.

Once you have got an idea, in most cases it needs adjusting and further
development before it turns into a commercial concept. If the idea is not
convertible into a commercial concept then is it not advisable to start a
business based on the idea.

Below are topics to help you develop your idea.


Mission statement

When starting a business there is a tendency of basing it on specific
knowledge or on a specific product.

If you like cooking you may want to open a stand and serve hot chicken
soup at fair prices and if you are educated within IT and software you may
want to establish a company specialising in relational databases.

By basing your business on one specific product or service you make your
new business vulnerable. If its foundation crumbles away, the market will
lose interest in your business. You will have nothing else to offer the
market.

What to do is looking behind the apparent features of the product. That is
how long and wide the product is, the colour of it, the durability, how many
rotations per minuets on so on. Try instead of to determine which human,
business or society related challenges the product meets.

If you like cooking and sell “chicken soup” your mission statement could be
“to serve tasty and healthy take away food for the public at fair prices" By
choosing this statement you will be able to continue your business even if
the public should stop liking chicken soup. You will also open your mind to
new ideas and new commercial ventures by widening your business
statement.

Are you able to write down your mission statement? If not, wait and come
back to this item later. When working with the business plan the right
mission statement might just pup up.




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