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  • Writer's pictureRoger Pierce

Will your startup idea work? It's up to you

By Roger Pierce

Gripped with fear, aspiring entrepreneurs often ask me, “How do I know if my business idea will work?”

Here's the thing: your idea alone won't work, unless you do. There are many billion-dollar ideas out there that never see action.

You are responsible for making your startup idea soar. You alone. You are the only one who can turn your idea into reality.

Make it work by:

Writing a plan. There's a reason so many experts talk about the value of a solid business plan. Making a plan forces you to think through all the elements of a business so you can spot problems with your model or strategy, and make corrections.

Using your time wisely. Any fool can sit behind a desk for 12 hours a day. It’s not the amount of time you spend at your business, but rather what you do with your time. Focus on activities that add value to your business – like building customer relationships or developing efficient business systems.

Remember, 'fortune favours the bold'

Starting up cheap. Most service-based businesses can be started for under $1000. Build and launch a "minimum viable product" – which means a business with bugs – and work quickly to make improvements.

Finding advisors. It’s impossible to know everything about running a small business. Reach out to your personal or professional network to find an experienced entrepreneur willing to guide you.

Starting now. Don't delay – otherwise you may never get your business going. Conditions will never be perfect. Do it now.

Execution separates the dreamers from the doers. Pick a small step and just get started.

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