Articles

Articles

Business Start-up Costs

In the busyness of getting the idea right, most entrepreneurs end up ignoring the business startup costs. Out of the 10 social venture ideas evaluated today, we found invariably, our friends had ignored this aspect consistently.

Experience shows that the start-up costs are significant in any form of the business. Especially during selling the idea, recruiting initial team members/ volunteers, getting the seed funding and setting up the operational mode of the business including office/web/communication infrastructure. Most of the time, over 50% of initial spending will be in this bucket depending how mature the idea is.

There are various tools/templates available to help build a budget and basis for business start-up costs. One such great resource is available here: Business Start-up Cost Template

Check out their site :

– A great resource for various tools, templates, calculators,etc., in mostly MS Excel, OpenOffice formats. There are several free templates + economically priced ones if you are planning for business purpose. Check out their blog too for very insightful advice on variety of subjects.

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Top 10 Characteristics of Dreamer Doers in the crowd!

What differentiates dreamer doers in the crowd?

A quick snapshot of response from a cross section of over 200 people shows the following:

DDC

When forced to choose only one most important of these characteristics, every dreamer doer chose “Limit The Number of Hats You Wear!”

Looks like this is the golden key to success of being a dreamer doer in the crowd!

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Now What?

Ideas come cheap, many a times – free!

To trivialize an idea  – just add “so what?” at the end of every idea.

To take an action – just add “now what?” at the end!

Developing an obsession to action is the key to conversion of great ideas into reality.

Met a guy with over 25 yrs in semiconductor industry – busy filing patents almost every other month. Asked him how come he is able to maintain the pace and renewed interest every time he comes with an idea?

He said – “My job is to let the world know how good an expert I am, in my field. Only authentic means I have found is patenting my idea!”

So True!

It is our job to let others know – how good we are! Mostly our actions and associated results stand in our support in this respect.

– “Now, What?” find and act – relentlessly!

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