Have a New Business Idea? Here's What You Should Do First : Technology :: American Express OPEN Forum

Jan 06, 2010 -

Almost every great business, both big and small, can trace its roots to an entrepreneur (or more often, a couple of entrepreneurs) with only their determination and an idea for a new enterprise.  The very first step for almost any entrepreneur tends to be the idea: finding something that other companies don’t do well or simply don’t do at all.

While you may be an entrepreneur who’s brimming with countless ideas, or maybe you’re a group of friends who see an opportunity, you should never just “jump right in.”  Most of the time, that approach ends with heartbreak and a lot of lost cash.

The first thing my entrepreneurial mentor taught me as I was learning about the startup world was the “Will the Dog Eat the Dog Food?” test.  Just as Purina tests to make sure canines will eat the dog food they create before it goes to market, a smart entrepreneur has to test and research his or her idea before turning it into a business.

The first step in testing whether the dog will eat the dog food is to answer these questions:

·     Is the idea market viable?  Are there numbers you can come up with to prove that there is a potential market for this idea?

 

·     Will your potential customers want this specific idea?  What might they be looking for in the next few years?

 

·     What is the market landscape?  Who are the competitors in this space? What are their situations?

 

·     What is your value proposition?  Is your potential idea/team going to be able to do something that others will not easily replicate?

The key to this is to really assess whether your idea will hold water once it gets put to the test.  Having a good idea that has market viability, customer interest, and cannot be easily replicated is essential.

The second part of the dog food test is to do some research and gather some data.  Here are some numbers you should collect:

 

·     Market data: the size of the potential market(s), its rate of growth, and any big developments within it over the last few years.

 

·     Competitor data: Who are the top potential direct and indirect competitors? What type of revenues are they generating? How much web traffic do they garner? What type of partnerships and sales do they boast?

 

·     People data: This is the most important part.  Often times, entrepreneurs forget to actually talk to the customer.  Scott Cook, Strong research at the beginning of your entrepreneurial journey will help you avoid a disastrous end.  Not every business idea is a good one.  Make sure yours stands up to the dog food test before you actually create your startup.

via openforum.com

Posted via web from adrianlado's posterous

10 consejos para emprender un negocio « Blog de François Derbaix

Ayer Marta y yo estuvimos en Iniciador Madrid charlando como pareja de emprendedores (somos co-fundadores de Toprural y Rentalia).

Marta Esteve y François Derbaix en Iniciador, 9/12/09, foto JaviEncantia

Para la ocasión hemos presentado juntos un pequeño decálogo o check list de 10 consejos para emprender un negocio:

1. Solucionar 1 problema / facilitar la vida: ¿qué valor al usuario aporta tu negocio?
2. Equipo multidisciplinar, compatibles y misma visión. En Internet 1 técnico, 1 usabilidad y 1 gestión.
3. Apoyo familiar: no tener apoyo de tu pareja acabará con tu negocio… o con tu pareja (o con ambos).
4. Empezar con dinero propio + FFF (puede que algún business angel, pero ni fondos ni bancos)
5. Reparto capital: según € invertidos y trabajo o salario al que se renuncia
6. Dedicación full time: es importante recibir todos los impulsos para reaccionar rápido. +  tus competidores estarán a tiempo completo: a tiempo parcial no tienes ninguna oportunidad de ganarles.
7. Factor X: un equipo motivado, unido y con el mismo objetivo = Factor X, alma, mojo.
8. Orientación al usuario: pensar en el usuario, en el usuario y en el usuario. El usuario es el rey, no el cliente.
9. Pareto + KISS: el 20% del esfuerzo te da el 80% del resultado así que Keep It Simple, Stupid.
10. Hacer deporte: busca mínimo 1 hora a la semana para hacer deporte y rebajar la presión, ésto es una carrera de fondo.

Enlaces relacionados:

• Otros posts en mi blog sobre montar un negocio
• Vídeo de la charla en Iniciador (Agoranews, 10/12/09)
• Iniciador Madrid con Marta Esteve y François… (Loogic, 8/12/09)

un equipo motivado, unido y con el mismo objetivo = Factor X, alma, mojo

Etiquetas: 10 consejos, Marta Esteve

Esta entrada fue publicada el a las Diciembre 10, 2009 y está archivada bajo las categorías Montar un negocio. Puedes seguir las respuestas de esta entrada a través de sindicación RSS 2.0. Puedes dejar una respuesta, o trackback desde tu propio sitio.

via francoisderbaix.com

Posted via web from adrianlado's posterous