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Wednesday, June 17, 2009

"I have a business idea, now what do I do?"

Launching a business looks and feels unique to different people. Some people feel horrified, some impatient, some unrealistic, some over zealous & some are just plain too quiet & shy! Whatever you may feel or experience when considering a business idea - take notes and start to ..... keep a journal of your ideas, fears and discoveries along your journey. Reference your journal on a daily basis - even for a minute or two. Start to read stories of other entrepreneurs - learn from their mistakes, successes, failures and experiences. Continue your note taking. Expose yourself to the likes of: Inc Magazine, Ladies Who Launch & get familiar with the business section of books in your library. The same applies for a person who wants to launch a jewelry line, sell a cleaning product or open a yoga studio; Study yourself and your own habits AND study the 'process' of starting a business, regardless of how big or small the business may be. Step 1 - Mindfully examine your actions as you explore launching the idea. Take copious notes and be totally honest with yourself - capture in your journal what you are loving and detesting about this first step. First list your fears, then list your dreams. And then, list your fears again. Focus on the dreams and slowly erase the fears. Honestly, how can you let a personal fear get in the way of your dreams? Continue to move forward until you open the doors of your new business or until you reach the point, right now is not the time for me to be doing this. Reread your journal starting from page 1. What are you learning about yourself? Are you seeing the fears shrink as you focus on the dreams? Is the idea of having your own business becoming clearer in your head. If so, are starting to think like a business owner. Your germ of an idea is starting to grow, the 'business baby' is being born. Foster, care and attend to your new budding bean ... Step 2 is Introduce the business to friends and family. Get ready to go back to your journal to transcribe the feedback and comments made by others. Be open and put your ego away for a couple of days as you listen to their feedback. Keep listening, taking notes and enjoy the initial process of making your idea into a business. Good luck! If you have enjoyed reading these notes and you are interested taking your idea to a North Shore business forum for people starting a business, who have a small business or would like to grow their existing small business, please email Stacey Lai - stacey@childrensdropandshop.com.