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On the occasion of mentoring on entrepreneurship in a high school lesson, I am recording a few thoughts that answer the following question:

I have an idea. Now what?

You certainly do not keep it secret and do not put it in the drawer because if you do, then, it is worth nothing. Try to work it out, discuss it, get useful advice and start implementing it. Then, list some useful tools and methodologies that will help you implement your idea and see what it is really worth.

I have an idea. What is it worth?

Ideas alone are worth nothing. In addition to this, there is no unique idea. Whatever you have thought of has surely been realised somewhere else and hundreds of other people in the world have the same idea as you do. How can you find out? Google it !

I have an idea but I am not sure of it.

Check out the Startup Idea Matrix.

Startup Idea Matrix

It is a useful matrix that can help you shape your business idea. On the vertical axis, you can see the sectors of the economy and, on the horizontal axis, the innovations and changes that one can design. It depicts existing known and large companies in the cells created. Note, however, that many cells are blank and may be waiting for you to implement this innovation. Food for thought for the next crowdhackathons.

I have an idea. How do I turn it into a business?

A really useful tool is the Business Model Canvas of Strategyzer. It helps transform an idea into a proper business proposition. The table presents in two axes the basics of a business plan organised into four key modules: Value proposition, Customer, Infrastructure, and Profit Equation.

The Business Model Canvas

Business Model Canvas is a popular visual tool for designing the strategic development of a business idea. It is especially useful to a startup because it helps you see the business opportunity behind the idea in a structured way.

Download the template here.

How do I organise my time?

Time is a key parameter. Besides, a manager’s job is to manage limited resources, ie time, people, money.

You have to organise work into work packages spread over time and set milestones that you have to respect. See a way to do it using Google Sheets. You can download a template here .

How do I organise my team?

A lot of people, a lot of tasks, now what?

To monitor the project, I recommend trello. You can see an interesting trello board here .

Admittedly, Trello is the most complete solution in its class. Actually, it helps you organise tasks and unfinished tasks through an easy-to-use interface. Trello is based on the Kanban system.

Trello allows you to create boards to which you add your tasks one by one. For example, each sector of a company could be a board. In there, cards can be created, so in our example, the different cards of a sector could relate to the various tasks it has for it, such as issuing invoices for the customer and so on. Each card in turn has text in the form of updates, deadlines, and even a list from which you can delete lines. You can attach files (either from your device or somewhere online), as well as give the right to view and / or edit the table to others, for example, if the content concerns them. Finally, for each board, there is a detailed history showing every modification made.

Trello Board

You can see various use cases at https://trello.com/inspiration.

How do I create a prototype?

We call it MVP from Minimum Viable Product.

The term “Minimum Viable Product or MVP “ has become known by Eric Ries, author of The Lean Startup, a book I would suggest you read. This term represents a way of thinking that describes the creation of partially implemented products, with the fewest possible features, in order for one to understand their functionality. This leads to the use of limited resources, time and cost. Products are quickly tested on the market to record consumer reactions. Thus, the business can make the necessary changes to eventually produce a product that truly meets people’s needs.

MVP is a methodology that generates innovation at the lowest possible cost. See more about the MakeYourMVP service at the website of Crowdpolicy.

How do I finance my idea?

Startups Funding Timeline

The picture shows the different stages of financing a new business. The way of financing depends on the maturity of the business idea and the amount of money required. See more about Crowdfunding at http://crowdpolicy.com/service/crowd-funding/.

How do I build a financial plan?

Check out this useful financial model template for startups (sheet).

How do I present my idea?

Guy Kawasaki pitch deck

Guy Kawasaki pitch deck can help you https://guykawasaki.com/the-only-10-slides-you-need-in-your-pitch/ .

Useful methodologies

You should check out the following:

Agile Development https://en.wikipedia.org/wiki/Agile_software_development

Lean Startup https://en.wikipedia.org/wiki/Lean_startup

Contact

Your commenting on the article and adding more resources would be really useful. If you wish to contact me, you can do so at LinkedIn or Facebook.

LinkedIn: https://www.linkedin.com/in/psalidas/

Facebook: https://www.facebook.com/mpsalidas

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