Entrepreneurial — Trekking in Unknown Terrain
Students get many ideas and they evaluate, plan and try to execute. Some of these ideas become super duper and may turn in big enterprises. How to convert idea in the reality is unknown terrain for any entrepreneur? This is like trekking in mountain first time. If you have trekked earlier, you will be more confident. If you are new, either you should get a guide to help you pass thru the unknown terrain or be completely prepared with route maps, dangers in the route, plan well to have energy to reach the destination.
First thing: get clarity on your destination
If you come up with idea, do validate by talking to customers and friends. Will they be we willing to use your services/product.
You should be able to describe your upcoming enterprise in 30 seconds. If you are not able to describe in less time, still you need clarity on what are you doing and how is this model different from others in the market.
Look out for companions who may track with you
You need to find out the companions, who may be interested to go ahead with you in this journey. Find stakeholders, not just friends or family members. Have people, who may not only question you all time but also gives suggestion to take this journey ahead. It is better to track in group than alone.
Prepare milestones and validate
Always have intermediate milestones. Try breaking your idea in smaller parts and how it may impact people and always get feedback.
Plan Resources and Finance
You need to have enough finances and resources at your disposal, that can feed you and your companions during this journey. This is last but very import step. If you are not able to plan financed, do not venture in this.