nurturing ideas

How to Nurture Your Award-Winning Business Idea

"Eureka!"

The lightbulb moment is one of the most immense feelings a person can have. You know, a moment in time when the stars align and all of those creative brain worms fall into place to form something magical.

That's how a lot of startups begin - with a potentially award-winning business idea.

Unfortunately, for many businesses, that's where the journey ends. In fact, About 50 percent of small businesses fail. But, if you nurture your business idea and give it the time to develop into something game-changing, that's when the real magic starts to manifest.

So, if you've just had your light bulb moment and you're looking to nurture your idea, here are a few tips that will help you enjoy the success you deserve...

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Brainstorm like mad

You might be thinking, why would I do that - I already have my idea? Well, in a nutshell, it's because any idea needs development to turn it into something of real value.

So, once you’ve decided you have the right foundation, you should, as we say, brainstorm like mad. Take multiple 30-minute sessions to think about, and write down, every idea you have for a possible business. Then, when the moment is right, ask trusted friends and colleagues what they see in you. What special talents do you have? Jot it all down and keep an open mind.

Pick one developed idea

Once you've brainstormed and gathered all of the information you need, and you have a few key developments of your original business idea, you'll need to weigh everything up. Is this idea viable? Will this take me on a journey to success? Do I have the personal talents and available resources to maximise the potential of this project? Test the market with polls, surveys and market research - and use that data to pick one developed idea to which you're going to commit.

Build the right team

The best way to execute a plan, manage a success project and most importantly, make sure your idea is in constant motion, is to build the best possible team.

Look at talent hiring portals, think of people you know who could add significant value to your venture, and use your market knowledge to build a collective of commercial legends.

Evaluate your team regularly, so you know how each member contributes to your success. Let anyone go who doesn’t help you drive your business idea forward. Getting rid of people is never fun, but sometimes it's essential to nurturing your idea.

Tip: Need funding for your business idea? Check out these three fuss-free startup funding tips.

When it comes to nurturing a great idea, persistence, development, collaboration and the ability to keep an open mind are the ingredients to success. And by following these tips, you'll be staring down the barrel of a successful business venture in no time.

One of the best ways to stay on the ball and keep the mind active is by eating right. Try these brain foods and your creativity will hit new and dizzying heights. 

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