Once you have validated your idea, proven the market is ready for it, or already have customers waiting to get the final product, it’s time to build a team around your new business idea. Keep in mind that you may need a team to prove that the market is ready for your idea, so this step might come earlier for some. Without a team, the success of your company will rest entirely on your shoulders. You should think about the key skills that you lack and build a team whose strengths are your weaknesses. For example, you might be great with sales but lacking in marketing and operations, so you could bring in some marketing and operations experts to balance your team and skillset. With a team, you will be able to properly delegate tasks that others excel at. This will reduce the pressure and increase workflow and business development across the board.
Build a Team Online
At Ideator, you will have all of the tools you need to discover and establish your team. Team building is an important part of creating your business based on your original idea. You’ll have all of the team collaboration tools at your disposal to bring your business vision to life.
How to Assemble a Team
If you don’t know how to assemble a team, don’t worry. Ideator will help you through the entire process and will give you everything you need to find or create a team online. As you are getting started with your business, you need a team that is going to be flexible, believes in your business vision, and is willing to go the extra mile to make the business a success in the long run.
These are a few fundamentals to keep in mind as you build your team.
Team Leaders Are Critical
A leader in any environment keeps the vision at the front and helps to direct everyone towards it. A leader on your team must be able to build relationships with the rest of the team through trust and loyalty, not through power or authority.
Have Clear Directives
You, as the owner, and your team leaders must be capable of being crystal-clear on business directives, objectives, and steps that need to be taken. Having objectives clearly defined will enable team members to work towards the most beneficial objective for the business at that moment.
Consider the Value in Every Idea
Every idea should be listened to and considered. You, your team leaders, and the rest of the team should never immediately put down any idea. If you do, you will inadvertently squander that individual’s hope and they will be less likely to provide the business’ next big idea. All ideas, even if they are not ideal, help to generate new ideas across the entire team through the power of brainstorming.
Start With Part-Time
Businesses as they start off may not be making a lot of money. In order for the business to thrive, the initial investments and money need to remain in the business in order to foster growth. Suggest to yourself and your team members to work part-time, either during nights or weekends or both, until everyone in the team can earn an income through the business.
Use Ideator to Network
Ideator is an incredibly powerful platform for not only building your best ideas into existence, but also for discovering people who have a passion like yours. Many Ideators are not interested in the 9-5 corporate job or status quo. Surround yourself with people who share similar goals and visions.
Utilize Good Business Practices
There are so many team building articles available and no shortage of ideas and suggestions you can implement. Here are just a handful more to be considered as you build your team:
Encourage communication between team members.
Facilitate communication on your own.
Have clear and established team goals and values.
Regularly evaluate team performance.
No matter what team building ideas you use, remember to keep a group of people around you who are committed to seeing the business succeed.
So you’re interested in getting into an innovative new business – but you’re not sure where to start. Maybe you’ve got a few dollars in your pocket you’re looking to invest in the next big thing; maybe you want to contribute your expertise to shaping business ideas that have some potential into great business ideas, full stop.
Well, the team here at Ideator is delighted to tell you that you’re exactly where you need to be. If you’re interested in shepherding along the best business ideas towards becoming workable companies, this platform can help you do it. We’ve built a community dedicated to innovation, with the understanding that an idea is a tremendously valuable – but necessarily unfinished – thing. Great business ideas are fragile, but they have the potential to be strong – and ultimately to lift us all higher than we were before.
But they need you to do it: an active, energized community of people who believe in the power of great business ideas. The best business ideas have a subtlety to them; a grandness that doesn’t sound grand. Not all startup business ideas will have the legs to go the distance, of course – but our forward-thinking user base is committed to finding the ones that will.
A Great Business Idea Is…
As all good innovators (and their supporters) know, of course, that’s just the beginning. We work hard to elevate the very best business idea, to recognize its potential – but there’s a lot more to the process of building an innovative company. Whatever you have to contribute – an expert opinion, an enthusiast’s impression, or an investor’s confidence – it will help advance the cause of innovation and nourish the most exciting ideas of the moment.
From long experience, we know that more heads are always better. Every great idea needs help growing, refining, and meeting unexpected challenges on its way to fruition. Your contribution, in whatever form it might take, is absolutely vital to the process of innovation. We need opinions, ideas about ideas, enthusiastic support, cautionary tales about similar ideas – everything will help make it better. And great ideas deserve all the help they can get.
The Power of Great Business Ideas
At Ideator, we’re dedicated to the power of ideas to change the world for the better, and we’re passionate about bringing people together to accomplish extraordinary things. If you’re on the lookout for ideas that will get you excited, the Ideator platform is a great place to start. Get ready for an adventure that will reward you, your collaborators, and the world at large.
You have everything in place. You’ve taken all the important steps. From having a business idea to validating it. Building a team to creating goals for them. Finding advisors and using them to create a business plan. And finally, developing your product or service. Now it’s time to launch your business or product.
Prepare to Launch
You have done everything you need to do for a proper product launch. Within Ideator, visit the “Find Customers” category in the “Resources” section of the website. This category holds resources you will want to use to get your product or service out to as many customers as possible.
Since you want your launch to go as smoothly as possible, here are some things to keep in mind as you go forward.
Minimize Product Development Time
It’s easy to be captivated by developing your product or service. While it’s an important part of the process, don’t spend all of your resources (time and money) developing it. These resources must also be saved for a proper product launch. Plus you’ll be making iterations of the product or service, so take that into consideration when trying to make it “perfect” for the release.
Team members may become stuck in their ways with the product or service as it’s developed. As new information and research comes in, it needs to be utilized in a beneficial way. Remain open minded and adaptable to change for your product. This can be the difference between a moderate and a massive success for your launch.
A new product or service is going to take time to become familiar to consumers. Remain patient as you and your marketing team educate your target market about what you have to offer.
Know Exactly How and Where to Sell
Your business should know how your product is going to be constructed from start to finish, where you are going to sell it, how you’re going to market, and how your product is going to be provided to your customers.
Research to Find the Target Market
Attempting to sell your product or service to the entire world is not going to end well. You need to establish a target market. Have members of your team research what your ideal target market is and focus on them exclusively in the beginning.
Product Launch Checklist
With a product launch around the corner, there are a few more things that you need to keep in mind before you cut the ribbon. This product launch checklist will help you to keep your product launch on track and make it a success across the board, both during and after the launch.
Goals and metrics are clear and visible by all team members.
Know how the product is going to be created.
Have enough inventory, if applicable, for an initial rush of purchase orders.
The payment plan is established and has been tested.
Set a date and time for your launch.
Establish clear and concise tasks and duties for each department or individual in the company during the new product launch.
Leaders should know how to launch a product by following the same steps as you. This will help you to go into the launch with a team and not have to do it alone.
All important and pertinent information is accessible and handy by all team members.
Equipment and tools are prepared and ready to go for the launch.
Online documentation via websites has been updated and is accurate, complete with contact information and FAQs.
Press releases have been prepared and are ready to distribute.
You have a backup plan for the most likely or most difficult scenarios that may happen during your business launch.
Create a launch party. Make it fun!
You can check in with Ideator to get full support for your product launch with other Ideators, advisors, and resources. There is no reason that your business launch has to fail, and we want to make sure that you have everything on your side to make it a massive success.
You’ve defined your business idea, conceptualized your service or product, found a name, and are now ready for the next step: idea validation. Knowing how to validate your business idea is a very important step of building a successful business. Without an idea validation process, you won’t have any way of knowing whether or not your business idea is a good one that will fill the needs of your ideal customers.
Not every business idea will be a success, so it’s important to take time for business idea validation in order to determine just how valuable and successful your idea can be.
We will help you to understand how to validate business ideas in order to determine whether or not it is worth pursuing your business venture. This is important as you will only want to commit time, energy, and resources (money, equipment, materials, etc.) into ideas that show promise of success.
There are a few key dos and don’ts for validating your business idea.
The Wrong Way to Validate an Idea
Create A Prototype → Raise Funding → Build The Team → Validate The Market
The incorrect way to validate your business idea is to start off by creating a prototype of your product or service. It’s tempting to create something tangible to show to investors, friends, and family, but you don’t want to put forth a significant sum of money and resources into a project before validating it.
Notice here that “Validate the Market” is the last step in this approach. As you’ll see, validating the idea should be the very first step you take before you create a prototype, find a team, generate funding and push it into the market.
The Right Way to Validate an Idea
Validate The Idea → Create A Prototype → Build The Right Team → Raise Funding
The correct process involves validating the idea first. If it shows promise, then you can proceed with building a tangible prototype, building a team around it, and finding funding for it. Only then will you be able to successfully take it to the next step and eventually bring it to market.
How to Validate Your Business Idea
Validating your business idea sounds like it can be a lot of work. While you want it to be an involved process to verify that it will survive in the market, it doesn’t need to be difficult. Here are a few pointers to get you started.
Browse Top Sellers & Existing Categories
Browse websites in your business idea’s industry and their “top sellers” list. This will give you an idea of what is the most popular options that they have on hand. You can also check the “categories” to see if your product will easily fit within the target market. If it does, you will have better luck getting your own product onto top selling lists.
Use Market Tools to Gauge Market Size
The Internet is flush with useful tools and applications to study a particular industry or market’s size, supply, and demand. Ideator has a Resources Portal with an enormous list of resources covering every facet of building your business, including customer support, development, web hosting, legal services, and so much more. Ideator also has survey and landing page tools to help you understand your target market and get an idea of who might be interested in your business concept.
Cater to Supply and Demand
In order to thrive, your product or service must fill a need. If a particular industry has a high supply of what you have to offer, you’ll have more competition. On the other hand, if there is high demand for what you have to offer and there are very few competitors, you will likely have much higher success. One example of discovering the demand for what you’re offering is Ideator’s landing page resource. You can set up a page that would collect emails based on interest in your business proposition, which helps to validate your idea. When you’ve collected multiple email addresses of people who are already interested in what you’re creating, your idea becomes that much more valuable.
Get Feedback in Person
You can always meet people in person, such as family and friends, or at networking and business events, to gather ideas, opinions, and feedback on what you are looking to build. The ultimate validation is when an individual or business is willing to pay you now for the service or product you intend to build.
With the understanding that profitable and useful businesses are born out of profitable and useful ideas, the fundamental problem of entrepreneurship would seem to be the difficult passage from one to the other. Yet this paradigm does not subtract from the value of the idea itself. The practical and sometimes bruising realities of building a business cannot be made distinct from the abstract but inherently meaningful fact of a well-developed concept. A successful entrepreneur can undervalue neither theory nor practice, and must understand the vital link between the two in order to thrive.
As we say hello to 2017 we reflect on 2016. Over the past year our team has met with and interviewed over a dozen prominent entrepreneurs based in San Diego, one of the most innovative cities in the U.S, as our part of reviving Startup Grind San Diego.
Last month Salesforce for Startups announced that Ideator was accepted into the 1st batch of startups to join the Salesforce Incubator. Located in Heroku’s San Francisco building, my team and I moved our San Francisco operations from the Marina to SoMa.
Living in Belgium didn’t stop Caroline Basecqz from competing in the San Diego Startup Week Idea Competition powered by Ideator this year. And Caroline went on to win the French Startup-Weekend in September! So what business idea is she working on that is so revolutionary it’s winning competitions?