I’ve been doing some amazing research lately. I know that when I share what I’ve discovered it will help you in your business as well. I’ve told you before that I created a baby product and that product has now been submitted to Huggies for the Mom Inspired Grant Program. They offer $15,000 seed money. We’ll see how that goes in the future. One of the things I’ve noticed not only with my own projects but with others as well is that many of you have amazing ideas but you’re not sure how to turn that idea into a profit. Is that true? The most important decision you can make to bridge the gap between idea and profit is follow through. You have to start. Just take the first step. Even if you are clueless about the other steps that’s OK. My own experience has taught me that by taking the first step the other steps become clear. When I made my baby product each step I took led me to the next and so the “process guided my way”. Sometimes we get paralyzed in the “I don’t know” stage. We look at all of the factors and things that we don’t know and it become so big that we get overwhelmed and then just quit before we even begin. I am quite positive that most successful entrepreneurs are “learn as they go”. They never have it all figured out but they don’t allow that to stop them.
Some people want to have it all mapped out and know every answer before they even begin. I don’t think that’s possible or productive because as you launch a product or business your plans have to bend and accommodate what you are creating. Your vision may change. In order to bridge the gap between idea and profit you should follow these few simple tips:
You will learn so much more by doing then you will by thinking. Yes have a plan mapped out but put action to that plan immediately and don’t wait for everything to be perfect. Apple didn’t when they launched Siri- she’s a hot mess but she’s still very cool.
No matter what you write on paper as you get deeper in the process you will find it changing and bending. That’s OK you will probably discover something amazing in that process. So be pliable if you want to succeed change is the one thing that is forever constant.
Keep up on current trends and what is happening in your industry or field. Study other successful people who have launched before you. Learn from their mistakes. Why would you want to repeat the mistakes they’ve already made? You can cut back your learning curve probably in half simply by listening to them.
Don’t be stuck in your own little box. Accept the fact that there are many things you don’t already know. Be willing to grow, adapt and learn new techniques and strategies.
This is the most important step. You can have every intention in the world but if you don’t back that intention with action all you have are a bunch of notes on paper and not a business. This is what trips a lot of people up. They are so busy learning, studying and writing that they forget to “DO”. You have to create a project that can earn income if you want to make income. Sounds a little obvious I know but many people are not doing that. So make sure that you do and you will be surprised how quickly your Idea becomes your profit.