7 Ideas to Consider Before Creating a New Business

Starting a business is exciting but not easy. It has many challenges, and these are some ideas that I believe should be taken into account during all stages of the creation of a new business.

1. Even great ideas fail if poorly executed
2. There will always be competition
3. Know what you expect from the business
4. Get your own dream team
5. Clients will not be knocking at your door
6. You have to be your own best customer
7. Measure everything

1. Even great ideas fail if poorly executed: 
This is not just a problem for new businesses but an opportunity. Many companies have great business ideas, but leadership fails. You should be able to assess leadership and performance through specific objectives based on the strengths of the company and its reality.

2. There will always be competition:
The human population will reach 7 billion in October 2011, which means that no matter how revolutionary an idea is, “It is not once nor twice but times without number that the same ideas make their appearance in the world" (Plato). Probably, there are people or companies already working on it.

3. Know what you expect from the business:   Visualize the future of your business and the actions to be undertaken to achieve this. Establish a clear plan and objectives to be carried out in the following years. If you have specific goals, the obstacles encountered along the way will be easier to overcome.

4. Get your own dream team:   Although we believe to have all the capabilities to lead the business on our own, creating a killer team can be the difference. When building your team consider: First, the strategy of the company, you should find people capable of collaborating to fulfill the long-term goals of the business. Second, create a team where the skills complement each other, you should keep in mind that at first the responsibilities and duties of each will be very varied. Finally, find people you can trust, the team not only serves to decrease the workload on a single person but also has the function of support in difficult times.

5. Clients will not be knocking at your door:  Not only, we should focus on creating a great product or service, but also, on how we will reach our customers. Use your network, to find out not only what they can do for you but also what you can do for them and how they can help you to grow your business.

6. You have to be your own best customer: Using your own products and services is one of the most effective ways for businesses to obtain constantly new insights. As a user, you are able to detect problems and necessities that can be converted into opportunities for the company.

7. Measure everything:   No matter if you do not currently possess the capabilities to exploit this information to the fullest, be sure to capture, store and make it available to all employees to assist decision-making or find new insights in the future.