What is your next venture going to be?

Published Wednesday, December 16, 2020

If there is one thing I have learned from meeting business owners it is this.  There is always a new venture on the horizon.

A little seed in their mind which is slowly growing and taking shape.  For some people this is a single idea has been growing for a long time, waiting for the right opportunity.  For others it is one of many ideas planted over the years.

 

The big question is are you going to do something with those ideas?  Will they ever see the light of day?

 

New ventures nowadays have to consider terms like social media, growth marketing, crowd funding, mobile applications, etc.  Things which did not even exist ten years ago.  Even if your idea consists of buying a window cleaning company - you could consider using technology to take payments, communicate with customers, manage staff and resources.

 

How can technology help you?

I often advise business owners who are starting a new venture to use available technology to test the water.  Modern business practices suggest you should create your market before you even have a product/service. 

 

Build a following, create a need then provide the solution.

 

Social networks are ideal for this!  Start a Facebook page, engage with potential customers, find out what they really need and then tailor a product/service to suit.

 

Ideas needs to be allowed to grow

Remember your idea?  It should be allowed to grow and adapt to its surroundings.  Don't hold it back by keeping it hidden or by launching it and watching it wither away because you didn't allow it to evolve.  In other words spend time and money creating a product people ACTUALLY want, instead of what you THINK people want.

 

If you are considering a new venture then here are some resources for you...

• The Lean Startup

Eric Ries's re-writes the book on start-ups.  There is also a website which gives a great introduction to the topic.

The 7 Day Startup

Dan Norris's book is all about learning before you launch.  He also provides a wealth of resources on his blog.

Rework: Change the Way You Work Forever

New venture or not.  There will be something in this book to get you thinking.   Written by the people behind the company 37signals who provide a variety of business software products.

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