I’ve reached the stage where I have tested an idea to find out if people want it, seen if anyone else is doing it or how easily they could do it and how to deliver it and what that might cost.
This puts me at that point where I need to find the path I need to follow to turn this into a viable business. Where do I start and what do I do?
Previously, I have had a range of ideas that I believe would be commercial, sellable and useful to people, but I have not been able to find the nuts and bolts of business and an easy to follow list of processes to juggle to run a business.
To me it seems a little like motherhood. Bringing children into the world must surely throw up continual variables to answer and solve. I haven’t had children but can imagine the challenges to overcome would be relentless. They would require juggling many tasks at once, learning new ones and demands popping up with no warning requiring immediate attention.
This must surely be why relationships that are more equal work better and last longer. If parents work as a team with childcare shared between them, both parents will see a similar perspective, relate to each other’s experience, support each other and work as a team.
However, it seems as if this is rare. Male expectations seem to becoming ever more unrealistic and demanding, while women’s tend to be lowered and very well managed.
This could relate to business too. A successful businessman will have excellent support from one or more personal assistants to keep things going. Of course, anyone starting up a new business is going to appear as a risk to any potential investor, and that is why the various business processes that are required will be the engine that drives the car.
We might design a beautiful car or a futuristic, functional car as DeLorean did, but if it doesn’t fire up and move it is of no use.
Therefore, how does one schedule the nuts and bolts of business if no one tells you what these are?
To someone who has run a small business, processes such as VAT returns, corporation tax and filing and companies house are no longer second nature. If that was all we needed to do, after a few turns these would become second nature and no longer represent a hurdle.
However, starting a business must be more like bringing a child into the world and discovering and experiencing the new tasks that need to be handled as the business grows as well as planning for the future and increasing the work load, taking on more staff, evaluating the business, increasing equity, negotiating with suppliers, setting salaries, giving funders equities in the business and fulfilling on expectations from customers.
It seems that the demands of business would be too much for one person. This seems to be much like parenthood. If someone has had children but spent most of their time working full time and coming home to cooked meals, they are not going to foresee the range of tasks that someone starting a new business can already envisage.
If you are reading this, have run a small business before and are familiar with the various processes required to run a business – as CEOs seem to be considered to have transferable skills – it would be so beneficial to share this information.
I would definitely buy that book ‘Nuts and Bolts of Starting a New Business with No Previous Experience’ and if my business takes off, I will write that book myself.