Making Your Business Idea Successful

It’s no secret! Now more than ever, entrepreneurship is changing the world. Young entrepreneurs are realizing significant gaps in the market and are seizing the opportunities.

Take Evans Wadongo, Chairman of Sustainable Development for All (SDFA). The 27 year-old Kenyan engineer designed a solar-powered LED lantern called MwangaBora. Wadongo’s invention has quickly replaced smoky kerosene lamps and firelight in rural Kenya. Wadongo has been distributing thousands of these lanterns throughout rural Kenya where there is little or no electricity.

So is there a given formula to making your business idea work?

Of course not. A quick look into the career paths of successful entrepreneurs and you’ll see that the direction they take is as different as their product or service offering. But although their behaviours are different, their way of thinking may not have necessarily been any different.

The “formula” you need to follow to be successful simply lies in figuring out what you really want to do. Once you’ve worked that out, who’s to say the same approach won’t work for you?

Here are a few tips:

  1. Figure out what it is that you really want to do – with no passion you won’t give your best efforts.
  2. Start-off by taking a small step toward your goal. Any entrepreneur will tell you that establishing your own business is a risky business. Therefore, taking it step-by-step will stop you from moving too far too quickly.
  3. After the small step, stop to see what you’ve learned so far. A committed entrepreneur gives himself time to consider everything. This way he’ll find out what works and what doesn’t.
  4. Take another small step once you understand what you’ve learned. Then repeat the whole cycle again.

Just remember… The best entrepreneurs didn’t wait for their ideas to be perfect before they launched their products or services. Instead they changed them as they progressed along the way.