5 steps to turn your idea into a working plan

Step 1 – Design your idea
Draw up your idea by developing some important aspects:

Which needs does my product / service meet?
What are the characteristics of the target market?
Who are my competitors?

In short, study and carry out extensive daily researches to avoid mistakes that could undermine your idea from the very beginning.

Step 2 – Create your prototype
Once you have determined the characteristics of potential customers, create a prototype of your product / service and test it with friends, relatives and people close to you who may have identical or at least similar characteristics to the target audience identified.

Simply put, do a Minimum Viable Product (MVP) test -  a quick initial and low-cost test enabling you to assess what you are doing and decide whether to continue or change your mind.

Step 3 – Review your product / service
Continue with the modeling of your product / service, by applying the appropriate changes deduced from the test.
Investigate and work on possible revisions to be applied to your product / service, by asking questions and, if necessary, repeating the test. You may also contact potential stakeholders to sample their interest and opinion.

Please note that these first three steps are crucial and would require months and a lot of work, don't rush through it and don't be daunted.

Step 4 – Create your business project
At this point your business idea  is already taking shape. Therefore you need to outline clearly information concerning:

the initial investment;
the human resources needed;
the material resources needed;
the marketing and communication strategies needed to reach your users;
the financial strategies that you can potentially implement.

Please note that a lot of in-depth studies and analyses goes into this stage as well as comparisons with external parties.

Step 5 – Develop your timeline, launch and action planning strategy
Finally, the last step but it doesn't mean we have completed our work and we can enjoy a well-deserved rest: on the contrary, getting the final working plan is a necessary step to starting your entrepreneurial activities.

At this point you must:

adopt a timeline of activities to be performed;
create an action plan to enter the market;
plan a sustainable financial strategy;
begin to take initial steps towards the promotion and sales of the product / service.

Congratulations you are ready to hit the ground running!

Credits:  Oluwamayowa Oladimeji Feyitimi, Hexatech BM, Biggima Co. (August 2018)
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