Businessman, nine ideas to create your business project

We will share nine ideas to create your business project, face the challenges of business activity, create value and become a successful entrepreneur.

Reading Time: 9 minutes

Businessman's idea to create his business project

Opening a restaurant, a mechanic shop, an antiques store, a fashion store or a hairdresser, among others, is the dream of many professionals in each sector.

However, even if the idea sounds good to him, he has some fear that something will not go well.

Look at the market and it seems that everything is already created and that you can hardly have a good idea that manages to impose itself on all the competition.

So that the dream of being an entrepreneur does not turn into a nightmare, follow ideas and guidelines and positively face the challenge of creating your business project and making it a success.

1. Gather complementary experiences and skills

Although you may have experience in the sector of activity you want to create, there is another type of experience and skills, equally important, that you may not yet have.

A good entrepreneur must have personal skills, the “soft skills”, in addition to technical skills.

We are always learning and, therefore, try to find out as much as possible about the sector of activity in which you want to create your business project.

Search the Internet, read everything you can about the topic in books and publications. Be careful and always check the credibility of the writer.

Gather friends who have either business or management experience in general, discuss their ideas and, above all, listen to what they say.

There are also consultants, organizations and possibly other entrepreneurs who can help you.

2. For the business project to be successful, start by planning well

Often the problem is the lack of time, or rather, the lack of planning, since the cause of the lack of time is very characteristic of our “people”, but normally, it results from a lack of planning.

If you are still unable to manage your schedule, seek specialized support, as this will force you to schedule and discipline your time, in addition to this type of support is needed and can be decisive in the success of your business project.

Experience is only acquired by doing and often with mistakes. To acquire the skills that you may lack, you will make mistakes that will take away the energy and time you need to do what you truly know and have experience with.

Define well what the purpose of the business is, what you want to do, how you will do it and who is the target audience.

Take notes in writing, and as you compile these ideas, speak and discuss with your partners, friends, or a consultant if your budget allows.

This is the planning phase, where you need to be open-minded so that you can change the initial idea a little, if something better comes along.

This is the spirit of the successful entrepreneur and entrepreneur.

3. Businessman should discuss and analyze the business concept

In order to create your business project, it is necessary to carry out a previous work of defining and maturing the concept and Business model.

Will say, but the business is very simple! If you want to start a restaurant, for example, you'll probably say it's about making good quality meals and serving them to customers.

The issue that should concern you in the preparation phase of the business does not have to do with the experience and knowledge of the “core business”, that is, the person really knows how to make very good food and is even friendly when serving customers.

The point is that there is competition and everyone, in one way or another, also thinks the same: in their area they are the best. But as we know, some do not.

4. Analyze the competition

We have to analyze what the competition does, what offers it has, what kind of requirements and legal procedures we have to comply with.

What value proposition can we make that is more attractive than the competition? How can I differentiate myself? The price, the quality, the specialization, the choice of a niche market?

5. Perform a SWOT analysis

At some point, it is necessary to evaluate the business project, in four aspects: Threats, Opportunities, Strengths and Weaknesses of our business.

In English it is called the SWOT analysis of Strengths, Weaknesses, Opportunities and Threats.

The most important thing is not to present a table with the analysis done, but rather the whole process that needs to be worked on for discussion and analysis of the various issues, to finally systematize this table.

It is an important step to analyze strategies that can make a difference.

6. Make a Marketing Plan

To create your business project and fulfill the objectives you propose, you need to win over customers.

Succeeding as a business owner implies outlining a plan with the strategy you will use to attract customers and retain them.

Do not forget that, after winning a customer, it is very important that he/she stays and, therefore, loyalty strategies should be thought of right from the start.

The cost of attracting a new customer is much higher than keeping them loyal, but for that, the customer has to be completely satisfied. And don't forget that your customer is always subject to conquest attempts by your competition.

Bear in mind in the Marketing strategy that it is necessary to follow what the customer wants and know their expectations in terms of new needs.

7. Adjust your business to changing trends and the needs of your customers

Many times companies, after a successful start-up that is maintained, after some time they neglect the commitment.

Always follow the satisfaction of your customers, be attentive to their suggestions. Be creative and innovative and, if necessary, hire the services of a consultant so that new ideas can emerge from the discussion. If necessary, implement satisfaction questionnaires, either in print or online.

The business project has to be seen dynamically and the quality of what it offers is important for the sustainability of the business and for being a successful entrepreneur.

8. Choose a good team and attract talent

Invest in qualified people.

To attract and retain talent in the company, it is necessary to have a business plan that inspires employees, demonstrates the solidity of the business project and gives them a good perspective of professional development.

When you want to hire someone always ask for the curriculum vitae, compare the various candidates, interview each of them and show the business plan. It is a good practice of the successful entrepreneur.

With an attractive career, many talents can be gained for the team, increasing the productivity, innovation and efficiency of operations.

In your team also consider those who can be your partners. Do not choose partners just because they have the financial capacity for the project or because you know them from other work. Tell them your ideas, see how they react.

A good team must have the capacity to complement each other, to know how to listen and respect each other.

Gradually your business will enter a virtuous circle, where the motivation and commitment of the work team will make the results exceed the goals.

Your business project thanks!

Be a good leader, knowing how to listen, interact with everyone. Lead by example, resolve conflicts, ask questions, ask for suggestions, convey reassurance and reward good performance.

Be fair and transparent. For example, if you have a good performance rewards policy, say what the criteria are and make performance evaluations. This allows your team's motivation to rise.

A good entrepreneur to carry out a business project idea must also be a good leader.

9. The Entrepreneur and the Business Plan Project

A tool that will help you to think and identify possible alternatives and to develop the business project is the business plan.

Analyze the market and competition situation, strategies and actions to be implemented in areas such as marketing, human and financial resources, among others.

What type of company are you going to set up, what rules and legislation do you have to comply with, what is the name of the company, will you launch a brand and under what name, will you work in franchising and with whom?

And, above all, quantify everything you have thought and idealized and, with that, verify the economic and financial viability of the business project, making it a good undertaking.

Entrepreneur's resilience

as a businessman and entrepreneur and enthusiast, creating a business project requires great resilience.

If the result of the business project does not correspond to what you expect, review the idea, change the assumptions of costs, prices, sales objectives and see if it is possible to reorient yourself to other markets. Thus, it reformulates the business project.

These nine ideas to create your business project curiously have the mystical number of Pythagorean School, corresponding to the period of human gestation and equality and justice.

See too

• Restaurant example business plan