7 Steps to go from idea to cash!

Ok, so you've got a ton of ideas on how to make money and put some cash in your pocket, but where do you begin? Not to worry, I've got a few strategies to get you started. These are not the only way, but should give you a boost in the right direction.

1 Skills vs. Experience

What are your skills? What are you really good at? Maybe you are good with people, or are really technical and analytical. Are you a good organizer or have writing skills? Your skills will be extremely vital to the success of your endeavor.

Example - Maybe you are a stay-at-home mom, chances are you are a good planner, organizer, problem solver and multi-tasker.

What about your experience. Have you worked as a teacher, an attorney, a manager or a community organizer? What are you really good at? Consider what you've done in the past. Use these skills and experiences to determine what you bring to the table and what you need to get your new venture off the ground.

Write your skills down, get friends and colleagues to help you assess your best attributes

Did you know you can use OPE and OPS? You can borrow others peoples skills and experience to accomplish your business goals. If you are good with sales and people, but not a good organizer, then find someone with those skills and put them on your team, or hire them on a consignment basis.

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2. Find a model and duplicate it
There is nothing new under the sun. Chances are some one already has a successful business like the one you are starting. Find a company doing what you want to do. Do your research, then call them up and interview them. Take a field trip and investigate the business you're considering. Determine your target market, who needs your product/service
Locate them and hang out where they are. You'll be surprised at what you'll learn. You may even be able to do a joint venture or take their overflow work.

3 Income streams

Write down how much money you need to make per month, per week and per day to cover your expenses and then to profit. Then come up with as many ways to generate revenue from your venture as you can.

Example: If you can do it, can you teach it? Can you record to audio or video and sell it? Can you have others teach it and receive percentage of their profits? How many ways can you teach it, live classes, seminars, workshops, ebooks? Write them all down.

4 –Draft a plan.

Outline your concept. Determine what makes your business different from others. What your twist? What's your USP (unique selling proposition)? Then create your action steps. Sequence your strategy, what comes first, second, third and so on. Get someone else to help map out your


5. Team Power

Since success is not created in a vacuum, the fastest path to cash is with a team. Figure out what team members you need:

1. Vision team - help to get a clear understanding of what your business looks like
2. Professional team - helps with entity structure, legal formalities, bookkeeping, accounting
3. Sales team - execute sales
4. Marketing team - create and promote marketing strategies and materials
5. Coaching team - helps you stay on track, stay focused, analyzes your strategies and provide constructive criticism to improve your results. Also your coach and mentors should hold you accountable and not let you off the hook for achieving your dream.

6 -Develop the Marketing and Sales Strategies

Determine who are your clients and go where they are. Are they online; if so, where? Forums, social networks, online groups? Are they offline? Do they network with associations, trade organizations, community groups, business referral exchanges, churches, schools, etc.?

Find out what they need and what media are they using.

Beginning marketing ideas: newsletters, newspaper ad, internet sites, radio, email campaigns, posters and flyers, parties or get togethers, third party endorsements, craigslist, twitter, facebook, etc.

Make your marketing pieces full of benefits for the customer. Communicate to them in plain english. Craft your message to let them know why your product will help resolve their problem, or enhance their life

7. Ask for the sale

No matter how good your product or service is, no matter how many networking functions you attend, how good your website looks, you will never make any money until you ask for the sale.

Make the sales process simple and easy for your customers. Your website should be simple to navigate and your call to action should be clear. Let them know what to do, then make it easy
for them to do it.

People buy from those they know, like and trust. Help customers get to know
you. Use video in your marketing campaigns to help customers get to know your
personality. Use 3rd party endorsements for added credibility. Provide samples or FREE services if possible, then ask for feedback. Use these are testimonials. Provide value.

Always give more than your customer expects. Be truthful, don't exaggerate. And don't be afraid to ask for the cash!

There you have it! Seven simple steps that will help you go from concept to cash!


Now get off your duff and make it happen!

Gail

If you have a business idea and would like to bounce it off of someone to help you
come up with strategies and implementations, contact me at divatalk@helloworld.com


Gail Turner Brown, CEO of Small Business Network TV. Business marketing strategists and consultant. Provide tools, resources and information to small business owners to start, build and grow their.