Business Plan Writers Nottingham Want to be your own boss?
Want to make a difference in the world?
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There are 3 ways to start a new venture
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You have come up with with a technological breakthrough and want to have a positive effect on society.
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3. You have passion.
You want to work for yourself and control your own destiny. You want to make an impact on the world, yet you don’t have an idea or technology.
Yvon Choinard was an avid climber. Climbing was his passion. He bought a second-hand forge and began to make his own equipment. Ultimately he founded Patagonia, a manufacturer of high-end outdoor clothing that did $600 million in sales in 2013.
But how to go from ‘I have passion’ to ‘I have an idea or technology’
The first question a wantrepreneur should ask themselves is:
“What can I do well that I would love to do for an extended period of time?”
Sometimes it’s not easy to identify an idea or a breakthrough, having an inventory of your personal interests, strengths and skills might help you, says Bill Aulet.
1. Knowledge: What was the focus of your education or career?
2. Capability: What are you most proficient at?
3. Connections: Who do you know that has expertise in different industries? Do you know other entrepreneurs?
4. Financial assets: Do you have access to significant financial capital, or will you be relying on a meager savings account to start out?
5. Name recognition: What are you (or your partners) well-known for? Skills in engineering? Understanding fiber optics?
6. Past work experience: In previous jobs you’ve held, what inefficiencies or ‘pain points’ existed?
7. Passion for a particular market: Does the idea of improving healthcare excite you? How about education? Energy? Transportation?
8. Commitment: Do you have the time and effort to devote to this endeavor? Are you ready to make a new venture your primary (or only) focus?