Identifying major resources needed for a startup
There are three major resources to consider before you start Time, Money and Skills. They are the foundation of every business endeavor. By being aware about what resources you have available, you will increase the chance for a successful start up and build a viable business. We will look in detail at each of these resources in subsequent articles.
I already have a great idea that want to make it into a business
If you already have an idea and your hands are itching to try that is great! However, you may save time and resources if you are being methodical and identify what you have available to you before you jump into a startup. It should not take weeks or months to understand how much time and money you have available to you and what are your business strengths and weaknesses.
I want to start a business but do not know what type
Do not disappear if you decided to start a business but have no viable idea. Sometimes we want to start a business but do not know what type. Before jumping into any prepackaged business idea, think about the major resources you have available to you first. We the humans are creative bunch and always find solutions. Need to train your mind to look for potential business idea fitting the available resources. It may take some time and effort but it is worth trying.
I am afraid that some will steal my idea
Often I meet entrepreneurs worrying that their ideas may get stolen. They are reluctant to share any basic information and are overly protective. If you think that you can produce only one idea in your life you are better off not starting anything and keep your job. The odds that the first idea will be a hit are very small. The world is full of not realized brilliant ideas. Only materialized ideas make a difference.