(Continued from: ENTREPRENEURSHIP FIRST STEPS REJIGGED)
This in continuation to our article on steps required for establishing a successful entrepreneurship. Here we are going to discuss how working 360 degrees on an idea ensures sustainability of the enterprise. Every entrepreneur with a valid idea needs to understand the market requirement and shape up the idea accordingly. An idea is a like an own child and possessiveness is an inherent feature of all budding young guns. However, the willingness to take comments good and bad alike is the most flourishing aspect of a successful entrepreneur. Taking these inputs into consideration and willing to work 360 degrees will definitely yield the best product that would have prolonged market acclaim.
On the campus, everything is rosy, yet the real tussle starts once out of it. Hence adhering to some stringent process in evaluating the idea in the preliminary stage yields scalability in the long run.
- Design the idea as per market dynamics. Neither a totally futuristic one nor an outdated one would apply to your consumer. It must address present day issues with a scope to mould as per future growth is the order of the day
- Discuss with peers or well-wishers about the end result of the idea and not about the designs. Take their suggestions in recreating a market worthy product / service
- Understand the inputs required and assess the outputs that you propose to achieve
- Understand your competitors
- Validate your idea and plan how you wish to move ahead
The above introspection of the idea is sure to yield the best market appreciated product. Ensuring these steps with always having a backup plan, success is not far away. This is part of the series of articles published by Way2World for your benefits. Pl share your experiences to grajkishan@gmail.com, to serve you better. With inputs from internet – Rajkishan