FITZGERALD MUJURU – HAVE A BUSINESS IDEA?

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There are so many business ideas with great potential that are being generated daily by
budding entrepreneurs. These dreamers are creating ideas that may have the power to change the destinies of families, communities, nations and even human civilisation. However, an idea on it’s own is not enough – action is what will bring it to life and what sets the winners apart from everybody else. One way to galvanize an idea is to break it down into small, sizable chunks that you can implement where you are, with what you have right now. Your idea doesn’t have to be the biggest or the brightest. Nor does it have to be one that changes the world. However, it must be one that you believe in, are passionate about and it must be one that stretches your faith and tenacity.

Most businesses are built on strong conviction, unbridled hope and focused determination; they are built on the firm belief of success despite what the economy, the experts and the circumstances say. Almost all of the big corporations we know and respect started as an idea backed by an unshakeable conviction. So all you need to do is answer one question
– what is it that you have a burning desire to achieve in this life? Answer that and you may very well come up with something that can bring about real and meaningful change to society. If you have answered that question, let me share some useful nuggets to get you going.

1. Be specific about the arena you are about to enter

Most people’s undoing is having a lot of ideas. Zero
in on one and stick with it until it gets you the results
you want. Focus on your big idea. I’ve been told that
focus stands for ‘fixed-on-one-course-of action-until-
success. My area of focus is developing people. So
everything I do is geared to that – each time I write
an article, a book or share knowledge in any forum,
somebody is being developed.

Remember, no matter how talented you are, you cannot
be everything to everyone. In addition, some of
our desires are simply hobbies that cannot be monetized.
Focus on one that will give you and others a
real return.

2. Have a business plan

Yes, your idea may be brilliant, but can you come up
with a business model that is profitable? I’m against
business ideas that are pie-in-the-sky and that do not
create value for you the owner and other interested
parties. Your business isn’t an accessory to make you
feel good. It should be one that solves existing problems
for customers while making profit and creating
wealth for you.

Once you have a solid business model, create a
business plan which is a guide of the jobs that need
to be done to ensure success. Then create a strategic
plan which is a series of the activities leading up to
the launch of your new venture. Remember though
that excellent documents and plans do not guarantee
business success. In fact, most strategic plans are
not implemented and end up gathering dust after
the initial excitement is gone. You must be willing to
put in the work after all the planning. Create mechanisms
for accountability. Have people that will hold
you to account for the things you said you would do.
We are diligent when our salary depends on it but
lack diligence when our personal success depends
on it. Absence of that ‘stickability factor’ is one of the
reasons for the failure of many start-ups.

3. Do not be too quick to launch

As you shape your idea into a product, follow due
diligence and do your market research. Determine
the need for the product, the target group for that
product and their earning power. There is no point
having a product that no one needs, or if they need
it, that they can’t pay for. If you have a specialist
product for a niche population, they must still have
the spending power for and the ability to sustain the
demand for the product in the long term. This level
of information is necessary and powerful so make
sure you set and ask the right questions. Only after
you have armed yourself with this information, and
know how to use it, should you then make your product
available to the public…and you must time that
launch right too. Your market research will be so
focused that you will know exactly when to unleash
your brilliance on your future customers!

4. Determine the resources that you need to turn your idea into a reality

You may not have all the money you need to get
started, therefore you might need to be prepared to
find a partner who will help you with your business
in terms of specialized skills or access to capital.
There are many modern methods of fundraising for
your new venture. Find out which ones are available
by talking to consultants and those that are where
you want to be. Remember they have conquered
some mountains you are yet to face. Get a mentor
so that you can shorten your journey to success too.
Don’t be a ‘know-it-all’. Admit there are some things
you don’t know and find the necessary help.

5. There is a difference between starting small and staying small

Starting small is a positive step in the right direction.
Staying small however confines your potential. The
thing is, many are not prepared to start small. You
might be dreaming of owning a big supermarket
chain, but are you willing to start with a small shop
in a familiar neighbourhood or shopping centre?

If you do not have the financial muscle and the
connections to get going, you can offer yourself as a
consultant or volunteer to an organisation in your
chosen arena that can help you develop the skills
and connections you need. I have a very big idea on
my mind right now and I’ve decided to help a colleague
who is already in that field. That means while
I’m creating my plan, I’m learning the ins and outs of
that business.

Remember we can all make a difference on the planet
if we unleash the potential that we carry. So you have
a big business idea? Get started now! Pursue it, persevere
and I will see you at the top.

Fitzgerald Mujuru is a professional speaker, facilitator
and a marketing and business consultant. He is also
the author of Winning Ways – Precept Upon Precept
and other book titles, and has published more than 200
articles online.

Twitter: @fitzmujuru
Facebook profile: Fitzgerald Mujuru
LinkedIn: https://www.linkedin.com/in/fitzmujuru/

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