10 Ways to Implement Your Great Business Idea
1. Look for pain points,
don’t wait for a “eureka” moment
A sustainable business
should be born from a pain point, in other words, an opportunity. Kar-Worx was
born out of a pain point that was used as an opportunity to fill a dire need in
the aftermarket service industry. Trying to come up with ideas on your own is
probably the worst idea! Talking to potential customers will help you gauge the
shelf life of an idea and the need for changes.
2. Share your business
idea
Once you have a business
idea and the necessary research material, pick a few clients or industry peers,
perhaps from your family and peer group, or a reference to share your ideas
with. Allow questions and healthy criticism to assess the credibility and
potential of your idea.
3. Find a mentor
It’s always good to have
a mentor when starting out. A mentor, who guides you, supports you, is unbiased
in his opinions, and connects you with the right people. Most importantly, he
should be able to devote time to your business idea. A mentor can be your
professor, a peer member, or an industry expert.
4. Create a business
plan
Creating a business plan
is important – the vision, financials, needs, and strategies should be written
down in detail. When working to get a business up and running, it’s important
not to lose focus and stray from the plan. Having a plan in front of you will
help you stick to the basics.
5. Understand your
market needs and adapt to change
Doing thorough market
research on your target audience, demographics, buying patterns, and micro and
macro factors affecting your business will go a long way in getting you sales
because you’ve already established your product/service. The feasibility has
been tested. Adapting your research/survey results quickly can help you avoid
unnecessary losses, delays, and disruptions in the future. But remember that
you can’t always be right, so be prepared to change.
6. Learn Technical
Skills
Being an entrepreneur
comes with many challenges, having said that it also has its rewards. For the
service industry, trust does not come easy. To build good customer and vendor
relationships, what has helped me the most is spending time with my blue-collar
employees and understanding the intricacies and technicalities of the cars.
Being technically sound goes a long way in building trust and value with your
customers. It can also be a great tool to help you get away from vendors, who
try to outbid you.
7. Networking and trade
shows
This is the most
underrated tool when starting a business. Meeting like-minded people in your
industry, entrepreneurs, and even entrepreneurs from other fields can provide
much-needed support, guidance, and even help with ancillary business needs that
you may have overlooked. Visit all relevant networking meetups, trade shows,
webinars, and industry groups in your city, and you can find potential customers,
vendors, and even promoters for your business. Participation in major trade
fairs has helped us gain access to local and international vendors, who offer
good quality genuine spares. Our customers are then able to take advantage of
this benefit.
8. Pick a good team to
start development
Startups today are
nothing like their counterparts in the 90s or early 2000s. Entrepreneurs want a
team that is motivated, and rich in academia as much as work experience. A
self-motivated, collaborative, and honest team is key to ensuring that a
company is operationally self-sufficient. At Kar-Worx, there is a wealth of information,
the latest trends, and industry updates that help the overall growth of the
company and ecosystem. Good inter-enterprise communication can eliminate
mistakes that could cause you to lose a customer.
9. Create a website
tailored to your business
Having a good website is
like an extension of your company. Even the best salesman can’t get you as many
customers as a website can. Today’s customers take most of their purchasing
decisions online. Having a clean, informative, and interactive design can help
convert users quickly. While working on your website, you should also work on
your company’s branding image. Logos, colors, information, etc. If you’re in a
service industry like Kar-Worx, clearly explaining the services you offer
through digital, testimonials, workshop photos, basic pricing, etc. goes a long
way in getting customers online.
10. Use free resources
online to reach customers
Using online resources
like free listings, online directories, and social media to showcase your work
can help save you money and time getting your first few clients. Initially
outsourced to relatives and friends for small projects such as product or
company photo shoots for content creation, marketing, and branding using
various design software, which required specific skills. can go. Not only is it
cost-effective, but more importantly, it allows you to diversify your creative
input and flexibility, which would otherwise cost you more than outsourcing to
a professional agency.
