Expanding on Your Business Idea

By Zoe Taylor

Sometimes when we come up for a brilliant idea for a business, its stays just that – an idea. If you think your idea is worth expanding on, then it probably is. But where do you start?

Mind-Mapping
Like any new idea, brainstorming through mind maps is perfect for expanding on your business concept. Start with your main concept on the middle and expand out from that with potential names, what the business would entail, and so on.

Ask yourself the important questions
There are a few important questions you need to ask yourself as you develop your concept. These include:

  • Who would benefit from your business idea?
    Define your target audience through deciphering their wants, needs, age range, gender, etc.
  • How would you grab their attention and get them to buy your goods/service?
    Decide on the best marketing tools you can use to gain the attention and eventually sales from your target audience.
  • Who else offers what you’re offering?
    Do some research and find out who your competitors will be, and find out more about them.

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Study Business
This isn’t on here just because we’re an online education provider! Studying a qualification in business will give you much better insight into the ins and outs of running a business- much more than this or any other blog post could ever give you! There’s no reason why you can’t work on your business idea and/or plan at the same time, in fact that would be ideal as you can develop it and you gain more knowledge on running a business!

Get excited!
Starting a business is an extremely exciting and rewarding experience, and you can learn and grow a lot from it. Be proud that you have a the drive to take on such a venture, and get excited about what the future holds for you and your business. If you can do that, motivation and determination will come naturally!

For help in finding the right career path for you, or for useful tips on areas including studying and finding success, call 1800 143 080 or visit www2.collegesonline.com.au/mycareer to contact one of our friendly career advisors!

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