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  1. Rezonate

    Rezonate Entrepreneur

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    The premise of having a great start up is first having a great idea to base it all on, a great team and great people behind you to make it all work. Most great companies out there start off with a great idea or product and they go from there without a great idea you basically don't have much to start from. Another thing to consider and that would be very important is consider long term strategy you want to consider how your product or idea will evolve with the market long term and won't be obsolete in the long term.
     

  2. ruener79

    ruener79 Entrepreneur

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    A great business idea is pretty much what is needed to jumpstart a business. After that, it's important you know how to execute this great idea into a product or a service. No matter how unique your idea is and you don't know how to translate it into a product or service that people can buy or avail, then the idea goes to waste. If you don't have the knowledge on how to execute things, then yeah, a great team should be there to back it up. The boss I used to work for has great ideas, and he employs people with the right expertise to execute his plans. He works with the premise that to maximize your ideas and translate them into something the market can use is to hire the best people to take care of the nitty-gritty.
     
  3. lmilic

    lmilic Entrepreneur

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    Well, I can disagree, when I was 17 I had amazing idea, it was about marketing in real time and it isreally, really something for respect in the terms of todays marketing, but having the fact that in my country there is a lobby on marketing I, human with no more than 5k in capital couldn't do anything, as well as our lame mentality that says, oh, he has 17 years he can't be so smart, he will have time for himself, let destroy his dream
     
  4. dyanmarie25

    dyanmarie25 Entrepreneur

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    Of course, you can never start a business if you don't have an idea, a great and unique idea. But it doesn't stop there, you also have got to put some effort into it, and do a lot of internet/offline marketing. You also need funds to financially support your business. There's a lot of things to be considered when starting a business.
     
  5. thedeatheater123

    thedeatheater123 Entrepreneur

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    I slightly disagree with the statement that "it's in the idea". Ideas are dime a dozen, the important thing is to have a proper feasible product made out of that idea and a viable and big enough market for that idea. If your idea is only slightly different from those already in existence then you have to work hard to fight competition and differentiate your self in the crowd. Yes having the idea is very important, but you also need to conduct enough research before actually thinking of starting up, no matter how awesome the idea sounds to you.
     
  6. jona

    jona Entrepreneur

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    Actually, the features of whatever it is that you sell, come in 4th place.

    The most important thing is market: there has to be a market for your idea. A great idea that has no market because it is too expensive, or can't reach the people that will buy it is worthless.

    The second thing is marketing: you have to be able to sell your idea, you can have the greatest idea in the world but if nobody knows about it, it is worthless. If you can't communicate what you have and really get the message accross that your idea is great, you have nothing. You can find plenty of examples of inferior products in terms of quality that sell more simply because they have a better marketing.

    The third thing, believe it or not, is aesthetics. It has to look good. People will choose inferior products even if they lack many of the features that you offer if the alternative is prettier. Eye candy goes a long way.
     
  7. remnant

    remnant Entrepreneur

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    Having a great business idea is a battle half won. The other half is more involving and involves market research, viability and capital acquisition. From the school of hardknocks, I can vouch for the fact that any business idea has to address an existing market need. It pays to know your competitors so that you create a unique selling proposal for your business.
     
  8. remnant

    remnant Entrepreneur

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    My take is that a great idea is useless unless it is in demand. The best fundamental to consider when initiating a start up is the product. It has to plug an existing need or deficiency (primary demand) or stimulate the need for one (secondary demand). The rest are logistics which one can assemble at their own discretion.
     
  9. ruener79

    ruener79 Entrepreneur

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    "It's in the idea" to me is something that does not come out of nowhere. The way I see it, when you come up with an idea, there is the premise that you are seeing something that is lacking in the market. That is, you generally pinpoint what's missing in the market, and you think that people (the market) will appreciate it and support it, if it becomes available and known to the market.
    So yeah, I echo the sentiment that an idea is already half the battle. After the idea, everything is logistics and execution.
     

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