In Part 1, we hypothesized about the opportunities that could emerge in the new normal. Most of the examples centered around technology development. However, don’t get hung up on that if you’re not technology inclined – the point is if you’ve decided to spend time and begin taking the leap into entrepreneurship in these abnormal times, there are things you can do to prepare.
There are foundational aspects of your soon-to-be-new business that you can formulate without money, without direct physical contact with possible vendors and customers using new ways to connect with people. Before you do that though, you need a gameplan, or at least the basic building blocks of that gameplan. That way, when the outside world ‘loosens up’ you’ll be ready to go.
Here are some things you can focus on in order to build the basic building blocks of your business plan:
- What is the mission for your business?
- What is the overarching problem that you’re solving?
- Who else in the market, competing with you?
- How will you set your business apart from them by delivering a better service or a lower cost or employing a unique approach?
- How much revenue can you generate, locally and in a broader geography?
Even though you can develop the perfect gameplan on paper working alone, sooner or later (and hopefully sooner), you WILL HAVE TO get out there and begin the real work of building your new business. The great news is that in 2020, you can get out there and begin your customer discovery (testing your hypotheses) virtually, using tools that are available to everyone and growing in popularity due to the necessity of staying inside:
Build a simple DIY website. This doesn’t have to be a ‘work of art.’ you can communicate what your business does, who you are and how to contact you. There are many tools available. Spend some time to identify those that best suit your needs.
LinkedIn is a great way to connect with people and message them with questions, comments and advice. You’ll be surprised to learn how willing people will be to respond to a question like, “I’m starting a new business and value your advice.”
Build your social media presence using Twitter and Facebook and post your own thoughts and provide links to thought leaders in your space.
Start-for-Free Useful Collaboration Tools
Set up and account with free video conferencing tools like Uberconference and Google Hangouts to ‘meet’ with people you can help you and provide honest advice about your idea and execution plans. Go to Meeting is a great tool for recording your presentations as well.
Now’s the time to get started
So get started. You have nothing to lose but your time. And keep an open mind. Most business ideas are not a direct hit right out of the gate. And be honest with yourself. You may have to finetune, change and even construct a new gameplan based on the feedback that you receive. And if you see your idea is me-too or just not possible, don’t be afraid to put your gameplan on the shelf and start over. Keep you eyes and mind open. There are opportunities everywhere. It’s on you to find the one that suits you. And then, pursue your next Big Idea.