Step by step-guide
Get Started with Your Business Idea
Many of us dream of starting something of our own… but have no idea what that could be. How do you come up with a business idea that could be the foundation of a company – and hopefully a successful one?
You Only Need ONE Business Idea
It is said that every person has at least four good business ideas per year that could make them millionaires, if only they pursued those ideas correctly. The source of this claim is unknown and hard to trace – but the truth is, you only need one good idea. And – remember – becoming a millionaire doesn’t always have to be the goal. Surveys show that every third person has a potentially good business idea, but significantly fewer act on their ideas. This means there’s a significant risk that a year later, someone else introduces a similar solution, leading to regretful thoughts like, “I should’ve done something with that idea…”
Just do it
The best thing you can do to start is exactly that – to start. In general, developing business ideas is about give and take. Receive feedback, input, and other’s opinions. Then it’s time to tweak and adjust your starting point and the problem or need you want to find a solution for. An idea remains just an idea until you act on it. That’s where we at Science Park come into the picture.
How We Can Help with Your Business Ideas
Instead of waiting for the “big” idea to strike, work through the ideas you currently have and start discussing them. A good first step is to schedule a meeting with one of our business developers to discuss your business idea. You’re welcome regardless of how far you’ve progressed with your idea, whether it came to you last night or you’ve been pondering it for a while. We can’t tell you if your idea is good or bad, but we can provide you with tools to figure it out.
Here’s how Science Park can assist you:
- Free business development and coaching regarding your business idea.
- Developing your idea into a sustainable business concept.
- Finding the right business model and company structure.
- Practical details about starting.
- Lectures, courses, and inspiration from other entrepreneurs.
How Do You Come Up with Good Business Ideas?
Ideas breed ideas! Train your brain by moving forward, brainstorming with others, and see how that idea can be tweaked to be “good enough” based on the most crucial aspect; customer and market.
How Do I Get Started with My Business Ideas?
1
Talk About Your Idea with Others
Identify a problem and a possible solution and start discussing it with others – perhaps a potential customer, someone skilled in tech, or someone knowledgeable about the industry related to your business idea. Just remember to ask the right questions to get honest feedback. If you ask someone close to you, they might just try to make you happy.
You might think – “If I talk about my idea, someone might steal it.” You don’t need to worry about that.
2
Don't Assume You Need to Know Everything
Your solution might require someone who can develop apps, build a website, program a business system, or produce a physical product. That “someone” doesn’t have to be you. Through Science Park, you gain access to a network of knowledgeable and motivated individuals who can help turn your idea into reality.
3
Just Do It
Get started with your idea. Don’t wait until you’ve found the perfect solution for your business idea. You don’t need to have read all books on the topic, completed an education, or saved a lot of money. Instead, consider what is the absolute minimum to test your business idea on a small scale – and start there.
What Is a Bad Business Idea?
There are two simple answers to this:
- A business idea you never act on.
- A business idea about a product or service that no one wants.
Beyond that, it’s impossible to predict a bad business idea upfront. Evidence of this are the many stories of numerous rejections faced by some of the world’s biggest entrepreneurs, whose ideas have now turned into billion-dollar businesses.
Do I Need to Protect My Business Idea?
Of course, you should apply a sensible level of discretion about what you share and with whom. In some cases, aspects of your idea need protection, like technical solutions that can be patented. There’s also a strong advantage in being the first with something that can easily be copied in the long run. So, be careful about revealing too much before you launch the idea in the market. Even if certain parts of the idea need to be handled cautiously, you can always talk about other aspects without revealing critical details.
At Science Park, we operate under full confidentiality and can guide you on what to keep secret and what you can share. You can also get expert advice on how to protect your idea from our partner company, AWA – Law Experts in Intellectual Property.
