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From an idea to success, what would you do?

Discussion in 'Starting Your Business' started by Macferguson, Mar 7, 2016.

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  1. Macferguson

    Macferguson Member

    Hi Entrepreneurs, I joined this forum late last year with almost no idea what I wanted to do. Now, after a little advice from you lot, I am back with a plan!

    Anyway, my idea is to create a Sales and installations solutions company in the UK providing Y product to both the business and public sectors. When we are operational, we will partner with X company who provide their Y products for us to sell and install in the process of:
    1. Initial Sale
    2. Appointment, quote and payment
    3. Invoice X company
    4. Product Y supplied
    5. Install product Y
    We offer the sales to get the customer to the product, the installation to get the product to the customer. This is currently in idea stage, very almost startup after a little guidance.

    Okay so my strengths are:
    • Super Sharp
    • Incredible Learner
    • Sales experience
    • Electrical experience
    • Leadership, strong motivator
    • Great drive, confident in my abilities
    My weaknesses:
    • Almost always run before I can walk, ambition is a virus!
    • Have very little experience in business, I'm in my early twenties
    • I'm usually very organised but when it comes to this idea, I start one thing then go on to another and then back and so on
    • Funds are based on a full-time role and a large percentage are outgoings
    I have a few questions regarding this plan and I'm sure you all have different experiences I can take on board! Okay,
    1. I'm not sure how I would approach X company to develop new business relationships and how I would sell my idea when it is brand new and have no previous businesses?
    2. The product it is the Technology industry, specifically communications tech. Who would be my target market? I'm thinking Tech Fans and Business owners but please advise me in this area.
    3. I know there is no official guide to becoming a success, but as I have stated above I get very sidetracked and attempt to do everything at once. Is there a process you use in order to get a business running initially?
    4. I want to know what you think, is it a good idea and do you think it has capacity to grow?
    5. Any pointers you have based on the idea and my current situations, please feel free to advise as crucially as possible. I am only interested in progressing and want honest advice!
    If you would like to start a conversation and inquire more about the product or find out a little more about myself, I'd be more than happy to chat!
  2. Nancy

    Nancy Member

    I wouldn't worry about your inexperience. Be confident in what you are doing and the experience will come.

    You seem to be on the right track with your idea and basic plan. But somehow you must find the self-motivation to stay on track and complete a task! Making lists, breaking down the task into smaller parts, then checking them off when accomplished, with a reward for a list completed? A close friend or family member as an accountability partner? Set certain days for specific tasks, i.e. research on Mondays, phone calls on Tuesdays, etc.? Just brainstorming for you here :)
  3. Vinaya.Ghimire

    Vinaya.Ghimire Member

    Experience is very important to the necessary field before you start your business. However, if you have knowledge in the related field, experience may not be much required thing. For example, you have great designing skills, however, you have never worked for clients, you can still start a design house even if you have never worked with customers. having said that you still need other skills, such as marketing, promotion, customer care etc.
  4. jona

    jona Member

    You mentioned that your product belongs to the technology sector yet I don't see in your plan anything related to technical support and post-sale support. Who is responsible for this? Are you going to have the infrastructure to provide this first level technical support?

    Usually, the re sellers of technology products are also the people responsible with the technical support, they usually are able to solve a large percentage of the problems and only scale up trouble that they can't fix to the provider.

    Does the product Y can be purchased directly to the provider by a final customer? What added value do you add to the proposition by being the re seller and adding that overhead to the cost, the installation?

    Consider all that stuff.

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