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Why it’s never a bad time to take action on your business idea.

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We always suppress our ideas because we think they’re impossible or we doubt our own ideas but let me tell you something…

A lot of successful people have started this way. It is unavoidable to doubt yourself but do not let that stop your creativity.  JK Rowling was 32 when she faced rejections from twelve publishers before getting Harry Potter published. The founder of Virgin- Richard Branson started at 34 and now has control over 400 companies. At even later stage, we have Morgan Freeman who got his big break at the age of 52. We might know people who started earlier that are more successful, but we should be reminded that we can start later. Successes do not just happen overnight. Some might take a few tries, or some might happen on first try but the important thing is that you’ve taken action and have actually started!

You might be asking yourself by now “But how do I start on my idea?”. The first step for you is to visualize and know your product. What does it offer to the customer? From this perspective you’ll see what your product’s value to your customers. Do your research! What makes your product different from the industry? What’s the “added value”? If this idea just came out fresh in your head, it is important that you write down and take note of your product. Do not be afraid to let your creativity flow. Once the product’s been visualized, take it to the next level of analysation. I highly recommend the use of Business Model Canvas by Alexander Osterwalder as a sample. 

The Business Model Canvas is a very simple template that highlights nine essential components: Customer segments, value propositions, channels, customer relationships, revenue streams, resources, activities, partnerships, and costs. Cowan[1] describes the Business Model Canvas (BMC) as giving you the structure of a business plan without the overhead and the improvisation of a ‘back of the napkin’ sketch. The Business Model Canvas can give you a clearer picture of your business idea by providing you important components that you should consider on your business venture.

You can also seek for advice or a mentor , having a mentor might not interest many but a lot of successful people had mentors (insert hyperlink of interview video no.1). This can help you see your business idea in another person’s perspective. The mentor can also give you advice on starting out. Mentors can give you advice that can be based on their experience and can help you build your network.

“Yesterday is gone. Tomorrow has not yet come. We have only today. Let us begin.” -Mother Teresa.

 Author: Alysson Aquino, ICO Project Worker (International Communities Organisaiton, London. 

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