Richard Branson is an English business magnate, investor, and philanthropist who founded the Virgin Group. He can help you with the starting point and teach exactly the steps you should take, from beginning to end.
Here are some ideas from the specialist for your to boost your career and business.
- Incubate
Go to your favorite place: a place where you can relax, dream and incubate your idea. It can be anywhere: the most important thing is to go to a place where you feel at home with the least distractions and begin to visualize your plans, the company that you will build based on your idea. This company should be your focal point to which you can devote 100% of your time, heart and money.
Branson is very specific about how passionate entrepreneurs “must become” about bringing and making the difference in their consumer lives.
It is a crucial factor that you should embrace and understand, because if you truly love your job, eventually you will have a better chance of being successful.
It is very important that you can persevere, despite the long hours and the trials and tribulations that you will need to pass to start a business.
- Put Your Idea into Practice
Many entrepreneurs get stuck when it comes to taking risks, spending more time leaving their plans perfect than practicing and operating their business.
Such a behavior means fear. They are reluctant about taking risks. Following this scenery, Richard Branson says, “Successful entrepreneurs do not wait for the perfect moment – they create it.”
Develop some samples of the product or service you intend to sell. You can distribute it among friends, social media or family. Encourage them to try your offers. If you get bad feedback, do not panic or give up!
Consider making changes if it is necessary. Changing your product or service does not mean that your original idea was not convenient. It’s just a normal fact in the process to improve your offer.
- Time to sell
The next stage after employing betterments, now, it’s time to try to sell your product (initially in small lots) or start to display preliminary of your service, through as many resources as you can – In trade fairs, etc. Ask for feedback from first clients and keep in touch. This is the moment that promoting your brand correctly is critical.
Branson suggests entrepreneurs ask questions like: “Has your brand stand out? Do your brand values appeal to avid customers? Will they also attract talented employees?”
- Aim to potential investors and distributors
To the extent that you succeed with consumers who test and prove your product or service, it is inevitable that you will have to increase the production for increasing the demand.
As you produce more of your products, some practical questions will appear, such as how to best manage cash flow or how to distribute your products efficiently. In addition, it can mean an opportunity to find investors and distributors to showcase their idea. Also, in this phase, it is advisable considering hiring and delegating responsibilities to employees.
Finally, Richard Branson says: “If you followed the steps above, you now have a working startup, without even setting an opening date. Great job”!
