That’s it; you’ve decided to start you’re own business! You’re idea is brilliant so you’re quitting your job and jumping head in, with your eyes closed (never a good idea). Seriously? If you want your business to work, which is generally the case, you absolutely can’t miss (or much less skip) this crucial step: validating your idea or project.
The validation of your idea is indeed the step that should immediately follow its conception. It’s the unavoidable question that entrepreneurs must ask themselves before anything else: is my business idea viable? If the answer is yes, jump in — eyes wide open. If not, keep working on your idea. It’s an important step because it’s where many ideas are born and die, either because of too much competition, the idea itself should have been better developed, it would have been too difficult to set up, the necessary technology isn’t available, production costs would have been too high, etc.
Validating your concept also tests your motivation and determination, as well as your ability to overcome whatever obstacles and difficulties are sure to present themselves along the way.
As Simon Sinek says in his conferences, “What you do serves to demonstrate your conviction and how much you believe in your product or project.” It’s how you become inspiring to people, and in turn, how your product becomes a must-have on the market. A consumer won’t buy something simply because it’s available, they’ll buy it because they want it. That’s what makes the difference between a business that’s wobbling along, precariously, and one that’s thriving.
Conviction alone isn’t enough, though. As brilliant as your idea is, having a certain level of understanding about the industry you’re getting into, who the competition is, who your potential clients are and what the overall market looks like is what will make the difference between failure and success.
Which is why, as part of its Entrepreneurship program, Concordia Continuing Education offers three paths (online business, SME or Tech Business) based on the kind of business you want to start; paths, and specialized courses, designed to answer all of your questions (even the ones you didn’t know you had) and help you achieve the success you’re working hard for, and deserve.
Starting your own business involves a lot of self-sacrifice, sweat and tears (hopefully, no blood though), so it’s best not to skip any of the steps that could help lead to your success, especially not the first and most important ones.