7 Habits That Successfully Convert a Great Idea into a Great Business

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7 Habits That Successfully Convert a Great Idea into a Great Business

By | 2017-12-09T08:03:57+00:00 December 8th, 2017|Entrepreneurship, Leadership|0 Comments

Entrepreneurship is a buzz word. Everyone is talking about it. The truth is that it is not enough to be an entrepreneur but you have to be entrepreneurial. Entrepreneurship is a way of life. It is the ability to have an idea, then make efforts to see it come to reality.
Countless times we hear a great idea, then what happens for most cases? Most of the time – nothing. Most great ideas remain dormant because people don’t have the courage, resources, time and/or money to take action.
Converting an idea into a reality (regardless of the required investment of time and money) is hardwork whether you are an entrepreneur or a career person.
You must understand your idea or the dynamics associated with turning ideas into reality.

Here are 7 habits to cultivate in order to convert ideas into reality:

  1. Believe in Your Self.      You obviously won’t take action until you develop enough confidence to handle the consequences of your decisions. Any time you assume the responsibility to give something that had not existed before an opportunity to become a reality – you become accountable for your actions.Accountability requires believing in yourself enough to be 100% dedicated to getting the work done.
  2. Seek Mentorship  Learn from those who have done it before. You do not have all of the answers, just because it’s your idea. Ideation is distinctly different than execution. Allow your mentors to guide you with wisdom born from their own failures and subsequent successes.
  3. Manage Risk  Risk becomes your best friend when you give birth to an idea. If you can accept this fact, you will approach the process with a lens that keeps your dreams and ambitions in perspective and on track. When things don’t go as planned along the way, stay focused on the mission at hand and do not allow disruption to set you backward. Keep moving that’s what entrepreneurs do.
  4. Don’t compromise! Compromise is a choice, not a sacrifice. Don’t put too much pressure on yourself. Take the time to appreciate the journey and understand how things work. Most people are too anxious to get their desired results and thus start to make bad decisions as they go. The journey will be filled with unexpected outcomes that you may not be prepared to deal with. Don’t let this get you down, but keep your head up and respect the process and where it takes you. You will learn a lot about your threshold of risk and ability. Equally, you will learn that many doubters are ready to stand in your way and may attempt to bring you down; this is when the ride gets uncomfortable. Constantly reevaluate those with whom you are sharing the journey (i.e., your inner circle).
  5. Learn How to communicate the Vision. Converting your idea to a reality requires you to help others understand your vision. Selling vision is much like selling change. Clearly define your value proposition and how it can generate revenue. Selling lofty ideas without understanding how it will achieve financial results will never get you the right audience. Simplicity is the key to selling the vision for your idea. Making it easy for someone on the “outside” to understand what you are trying to accomplish will create engagement and increase your probability of expanding buy-in for your idea. This skill comes into play when selling to possible investors. Learn how to sell your vision sooner than later. Don’t wait as it takes time to piece together and refine your message.
  6.  Breed Passion.  Your ability to remain passionate about what you stand for is the ultimate enabler for the success of your idea. Passion is an animator. It gives life to your activity. It is what keeps you awake at night to get things done.
  7. Improve on the idea.  Never grow complacent. You can always expand upon your idea and make it better. This is what Steve Jobs did with Apple, Pixar Animation and Apple again. Continuous improvements were part of his legacy. He never stopped thinking of ways to make his ideas better.

Thanks for reading.

Have a blessed week.

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About the Author:

I am passionate about teaching digital skills and Technology skills to African young and middle-aged women. I have this believe that there should be no gender disparity in success.

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