You begin your business based on your interests, but it is true passion that drives your business forward in the face of overwhelming odds. You may have a large pool of ideas, but do you really have the passion to bring these ideas to life?
If you do, you will and must find every possible way to execute your ideas, for ideas without plans for actualization will only remain imaginary. With unwavering passion, a pragmatic strategy and, indubitably, hard work and much effort, your business ideas can finally be birthed into reality.
Ideation is the process of crystallizing your ideas and passion. This is the stage where you will need to impress your potential investors by creating a business model, streamlined to succeed. These business models can then be submitted through various platforms and act as a universal language which tells others how you will execute your plan in the form of a document.
iBosses will guide entrepreneurs to start the ideation process with preparing exceptional business models for their business. Here, they will learn more about developing, evaluating and scaling new business models from their respective passions.
You have the business and are ready to test it in various markets and platforms around the world. This level is to ensure that you validate your business ideas before launching the goods and services you have spent money and energy on. Using crowd-funding platforms, such as Kickstarter, helps to validate one’s idea by raising monetary contributions from a large group of people via the internet.
At iBosses, we will also help you to tap on the various markets around the world, reaching out to different countries in various regions.
Some entrepreneurs like to create mobile applications for their business personally, while others prefer to engage experts to do the job. Implementation of ideas takes place at this stage. It is a blueprint to get customers and entrepreneurs running and involved with a specific product or service.
Here, we provide you with a set of rules and views to cope with the most common issues that occur when implementing an idea, and ensure that the implementation is coupled with a unique selling proposition. An example would be to map up a very user-friendly interface in order to ensure that your customers will enjoy the services provided and be keen on continuing doing so.
Implementation takes time as it requires project planning, where iterations and applications need to be solidified.
This is the most critical step among the process as commercialization of products/services will secure a steady flow customers and revenue in order for the business to be sustainable.
Commercialization will be introduced in phases, from initial introduction of the product to its mass productions and adoption. Upon commercialization of products/services, you must be ready to sell your products to your customers. This is where you will need to consider productions, distributions, marketing, sales and customer support for your business. Without commercialization, your business will have a high risk of being inconspicuous to targeted customers and on the verge of collapse if it fails to generate enough earnings.
Commercialization is also crucial for penetrating your business into foreign markets, as you can utilize it to identify and tackle the possible barriers towards acceptance and integration into those markets.
When the commercialization of your business is successful, its model will be replicated worldwide as it would have been proven to be a cost effective route for business development.
Since the window of opportunity for new or unique business concepts shuts quickly in today’s marketplace, a well-planned business replication program permits more units of your business to be opened in a shorter time, giving you a competitive edge against your competitors, which is what iBosses places emphasis on for your business.
When replication of the business model is successful, you are ready to cash out your business start-up and exit the market by selling them to big companies. You will also consider going for IPO (Initial Public Offering) for your business.
Fruition is the process where a venture capitalist or business owner intends to sell off an investment they made in the past. This is the main objective for entrepreneurs, and it can be achieved through selling the business and going for IPO, which is preferred for small business and personal goals. In today’s business world, it is very common for large organizations to acquire small but successful businesses for further development.
Now that you have successfully cashed out on your idea, you can finally call yourself a triumphant entrepreneur!
Equipped with the skills learned across the levels, you could go on to become a serial entrepreneur, entrepreneur mentor, entrepreneur researcher, author, investor and/or an acclaimed international speaker.
But remember, the exciting journey of entrepreneurship doesn’t end here, so keep on creating!