Think about some of your first aspirations as a child. Firefighter? Engineer? Teacher? Our early goals and interests shape much of who we are and what we do. Many of us desire to fill a need within ourselves or society, as a public servant, a troubleshooter, or a mentor, for example. The idea stage of business development is similar.
Entrepreneurs look around and see needs within themselves or society to create a certain product or provide a specific service. It requires a heightened awareness to identify a need, and as you begin to think about how you might meet it an idea is born. One might also call this a vision. Conceptualizing what your business might look like is your foundation – do not underestimate this stage. Believe it or not, every business of every size and value started with a simple idea.
It is amazing the numerous times we have heard “but it’s just an idea.” The truth is, it is much more. In this stage of development, let your imagination soar. Your business idea should match your passion and vision. Only then are you ready to move onto the next stage.
Up Next: Stage 2