Do you have a Business Idea? Do you know how to start?

We often come up with many business ideas. But when it comes to execution of that idea, most of us become clueless about, from where to start ?? It is a very complicated question although. My first post was about this only, that "it doesn't matter how great your idea is, but the thing that matters the most is, how you execute that idea." If you want to read it, follow this link :
https://crazytobeentrepreneurs.blogspot.com/search/label/execution?m=1

Here are some basic steps that one can follow if someone is having a good business idea for a startup:

• Get them out of your mind onto a paper: 

Entrepreneurs commonly have no shortage of ideas, but this creative power can soon become a weakness if the ideas aren't managed well. We come across many business ideas, whether small or big, several times in our daily life. Having all of this brilliance trapped in your brain is sometimes exhausting and also you tend to forget about all these ideas when you really need some idea to proceed with. So, I advise you to write down these ideas as soon as they pop up in your mind to have at least something to choose from when you want to start your business. Business opportunities won't come out of your mind instantly. You'll have to collect some ideas out of your mind over a period of time. Now you'll just have to categorize and prioritize them based on your needs to choose one best idea out of them.

• Validate your Business Idea:

This is a very crucial step that would tell you whether to proceed with your idea or not. Your idea is totally worthless if you keep it to yourself and do not test it with actual customers. This step connects your idea with the reality and if you are skipping it, you better be ready for your startup doomsday. This step just involves asking people around you what they feel about the idea/concept/product you want to offer. Get feedback, make corrections only if you get a repeated point. Sometimes people are also wrong.

Build a minimum viable product or a prototype. The idea is to create something that offers the main value of your startup or that solves the core problem of your customers. The prototype could be a PPT slide, a dialogue box, or just a landing page. This is something that you can often make it in a day or a week. A prototype can be an actual functioning product with the core features proposed. Share this with your network and see the feedback. Are people excited to use it? Do they believe their wants or problems are settled by using your product? Is it easy to use? This step also involves market research about your product. For this, you must use the SWOT Analysis approach to analyze your strengths, weaknesses, opportunities, and threats. Also, you can use a what-if approach with your idea to foresee the performance of your business idea in the future.

• Create a Business Model:

Now once you are over with validating your business idea, the next step comes to create a plan for the successful operation of the business, identifying sources of revenue, intended customer base, products, and details of financing. In short, a Business model is a comprehensive plan which includes every detail about how the business would work. Here is one article about how to make a business Model:
https://www.entrepreneur.com/article/243753

Also, some of us are confused about "From where to get the funds?". Here are some common sources of funding for startups  in India which I'll be explaining in my upcoming posts:

1. Bootstrapping Your Startup
2. Crowdfunding
3. Funds Through Angel Investment
4. Funds Through Venture Capitalists
5. Funds Through Bank Loans
6. Raise Funds Through Business Incubators & Accelerators
7. Through the ‘Startup India’ initiative

• Build a Team: 

When you are prepared with a proper business model, here the time comes to convert this business model into a reality. For that, you'll require a competent and dedicated alpha team that will lead you to the top. Most startups fail because their team is not passionate enough. So you'll have to build a strong team in which you could believe and is committed enough to turn your plan into a huge success.

• Plan of action: 

Now the final step comes which converts your idea into a reality. This step involves the starting of your business in real. Formulate a yearly target, monthly target, and even a weekly target. Try to achieve them under any circumstance. Do not stray away. Do not procrastinate. Do not set unachievable targets.
This will actually enable you to start the business you always wanted to. Also, you should not freak out in the initial days of your business due to uncertainties and unexpected situations since they are meant to occur. Be calm, do not take anything lightly but learn to stay cool and act rationally. The plan formulated earlier my not always be perfect. People tend to divert from their plans a lot. It is good as long as you reach the destination, paths may change.