All over the world, big and powerful ideas have resulted in rapid transformation in the way day to day business is conducted. Big ideas for such rapid transformation are always in demand. After all who doesn’t want to be the next Steve Jobs or Elon Musk? But in search of these big ideas people are missing out on exploring and using smaller ideas. Small ideas are easier to identify and implement. But a question which manyentrepreneurs have is how do these small ideas translate into big results? More often we see people are looking for great big ideas. Ideas which they believe will transform their life drastically. When it comes to starting any business there is no need for a great idea. It can be a small one inspired by your hobbies or skills. Quite obviously big ideas are identified and talked about a lot in public. This means sooner or later you will find it being used or bettered by your competitors. Whereas small ideas are not usually identified and it goes undetected. This ability to work under the radar will help you develop in the long term.
Another advantage small ideas have over big ones is budget. Big and complex ideas will always need more attention, resource allocation and money. Entrepreneurs from developing countries without any support system will find such ideas too risky and daunting to take up. Whereas with smaller ideas they can give more attention to it while nurturing it without worrying about the budget.Now, how can an entrepreneur or a business nurture a small idea and get the maximum result out of it? Here are some suggestions on how this can be achieved.
Believe in yourself and the idea– This is extremely important as once you are committed towards the cause of nurturing an idea, it is important that you as an entrepreneur believe in the idea and the success story planned around it.
Being unique– This means that Entrepreneurs will have to be more creative with theirideas and the output they expect. Their endeavour should be looking to always stand out in what could be an already crowded and competitive space. To achieve this, they should first and foremost identify the problems and opportunities present in the business ecosystem.
Understanding limitations: This is extremely important as you are starting with a small idea. There are going to be assistance needed from multiple quarters. It is important to get the maximum out of the available resources and also explore other out of the box solutions.
Build a strong team: As much as you believe in your idea and plan, it is imperative to take into consideration the different stakeholders here. Entrepreneurs must ensure that they communicate to various stakeholders like their internal team, suppliers and buyers on how important and game changing the idea here can be.
Identify and stick to a winning plan: As the steps are taken to work on the idea, there are going to be valuable lessons learnt in every step. Entrepreneurs here should identify, absorb and replicate it if needed. A plan should be developed as the process goes on and finalised once a winning plan giving big results is identified. This is extremely important as once a plan is finalised the workflow can be optimised and much of cost and time can be saved. This optimisation will result in better ROI.
A lot of entrepreneurs out there spend time and money looking for one great big idea which can transform the life. But this is a futile attempt as smaller ideas are capable of achieving greater results. Also small ideas are easier to identify and work on. So, what are you waiting for?
Begin now with your small idea and remember, be yourself everyone else is taken.