How To Make Creative Ideas A Good Business

There are many people with ideas, creativity and ideas, but few people can really do it. Whenever the media reveals that someone has successfully turned their ideas into a good business, there are always people who are self comforting or self intoxicated by "Q": "please!"

I thought about that idea 800 years ago, but I didn't do it!

Creativity is like a light bulb on the head of a cartoon character. When the bulb emits light, it immediately reminds people that creativity has emerged in his mind.

However, not every bright bulb can be turned into a full table banknote. In actual execution, it may be found that creativity is not easy to be commercialization, or there is no suitable supplier to make, or there is no suitable access to sell, or even to find customers to buy.

A group of business people are having a lot of headaches in the new masters and innovation management class at the University of Alex.

As a VC, I think about how to answer this question.

How to make creative ideas a good business?

Resources, customers, operation, finance and so on should be taken into consideration.

I. inventory of existing resources

First of all, resources must be counted from inside to outside, including capabilities, funds, connections, technology, etc.

If resources are exclusive, they can enhance the potential competitors' access to the market and further enhance the success rate of entrepreneurship. In terms of market opportunities, we will examine every potential market opportunity one by one, and deduce the capabilities that must be met by market opportunities.

At the same time, we should consider the two conditions of market opportunities and existing resources to screen out the creative ideas in our minds.

Through this program, we can know which creativity is more suitable for which market opportunities, and further screen out what kind of business the creativity is suitable for.

Two: establish business mode

After identifying potential development ideas, the next step is to establish suitable business models.

Business mode refers to the whole process of how to provide products or services to customers and recover profits.

Develop a business model and guide the following projects.

Three: increase marginal benefits.

After establishing the operation mode, we must further consider how to improve marginal benefit.

One is the establishment of sales channels, although good wine is not afraid of deep alley, but good location can really enhance the chances of success.

The focus of choice is not only on business and customer characteristics, but also on company strategy.

The second is the choice of business partners. A good business team is an important factor contributing to the success of a business. A good business team can increase the chances of success for new ventures.

Four: seize customer needs.

In depth understanding of the needs of target customers, and strictly abide by the commitment of customers.

Make good market segmentation, target customers and company positioning, create the value of customers through products or services.

Five: do a good job in financial planning

Corporate finance is like a person's blood. Good financial planning is a prerequisite for maintaining the normal operation of a company. Once the company starts to operate, even if there is money, if the financial management is not good, there may be a loss crisis.

Before starting a business, we must make good planning for financial management, minimize the chance of financial crisis, and ensure that the company can operate normally and generate profits.