How long must an idea remain purely in your mind? Depends what the idea is you’ll say. That’s true because we all have ideas but at a certain point ideas can slip into becoming fantasies. We fantasise about buying our dream house and what it would be like to live in it. We daydream about being rich, having all the money we’ll ever need or want and buying the things we have always wanted. All of these things could be accounted to wanting some form of pleasure. Pleasure and leisure are earned, they aren’t given to you. So when you have an idea that can get you to those dreams, why would you regard those too as merely ideas?
Having a business idea is not something that you should count as purely fantasy and one that should be kept inside your mind. You have to believe in the idea that will not only generate money for you but also, allow you to achieve your goals that could in fact be the dream itself. However as long as we don’t take physical action to make those business ideas a reality they shall forever be locked in our mind. The real test is to take the first steps to becoming a business owner.
Naming and trademarking your business
The first step of course is to actually have a name for your business. However you can’t use whatever name you would like, at least not to the exact specifics. If only the world were that simple, there would be many overlaps and much confusion as businesses would look identical and be called similar names. You need to check with the trademarking office in your country to see what kind of names are already taken. For example, you may want to be called ‘Blizzard Design’ for your ceramic tiling company. However that name might be already taken by a company that is a tiling company themselves, along with the exact spelling. Therefore you need to tweak it a little, so you’re not in threat of stealing some other company’s name. You could call it ‘Blizzard Design’ instead or something to that effect.
A unique symbolic design
Perhaps even more important than the name of your business is the logo. If you’re selling products either online or in retail stores then what will stand out more is the logo in contrast to the name of your business. So you need something that encompasses your business and reflects your sole idea in the form of a logo. The logo should be some kind of symbolic design that you feel represents the aims of your business.
At the very least choose to design a logo that expresses what you believe in. You’ll find that the main reasons why companies that are new to the industry, choose quirky and odd logo designs is because they want to stand out. Sometimes you’ll see a business name and look at the logo and something doesn’t feel right. They don’t match what the name of the business is or what it does. Don’t have this gap in between your business name and logo.
You will of course need to register the business logo the exact same way as you did the trademarking of your business name. Once you have your name and logo officially recognized by the business and trading standards department of government, you will be registered onto the system and able to begin trading.
Start a trial period
Business plans change along the way to becoming finalised. They change so many times that after the final plan has been hailed and used, you could look back at the original and find that almost nothing stayed the same. This is why many micro businesses are choosing to not wait until they have a rock solid business plan when they know that they first need to see if their approach works. It’s good and most of all highly recommended to form your business plan logically and realistically. However what if you have a new idea, and you don’t know whether or not there is a market out there for it? A rough guide is good to have but you need to first test the waters to see how much interest you may be able to garner.
This is where a trial period comes in as you can in fact, begin selling and then make big tweaks to your business plan to now fit the information you have regarding what could be successful and what is likely to fail. There are so many resources out there on this subject but many differ and the advice conflicts a lot. Reading through this small business help and guide you can figure out how to start up your trial period. A test launch of your business or product is the first thing to consider. Develop a launch campaign whereby you are setting out clear differences between your business and the rest of the competition. This will be translated to and communicated into your marketing strategy.
Know your competition
Put yourself in the shoes of a small business. Suddenly you see another small business has just launched and they do a lot of the things you do. Their products and or services might be incredibly similar and their pricing is quite similar too. Now you have competition on your hands. What would you do? You would try to stamp them out of your turf or make them seem a lesser business than yours. You can expect businesses already established to react to you in this way so be prepared to meet your competition. Firstly you have to know who they are so make a list of who you’re competing against and keep an eye on their movements and reactions to yours.
You can’t just name your business whatever you want, there has to be a legal process that approves this. You will need to register your business name and logo with the patent and trademarking office so get an official confirmation that you can open your doors with the name you want. The logo you pick will also go through this same process. After this your first steps will be to come out into the real world which can be done in a test launch period.
Thanks for stopping by today, I hope this post has been helpful with helping you build your business.
*This is a collaborative post