More tweaking for your small business idea.
Think small ... for now. Yes your idea may need a warehouse full of stock to give your customers your amazing product with next day service. You need to make a decision though. Do you want to go the normal traditional way and stand the chance of succeeding big time within a few short years, whilst risking everything you have financially, including the home you live in and your debt record if it doesn't work out? Keep in mind that most business start ups fail. If you're prepared for that risk, then go make a business plan and approach your bank and some venture capitalists for the money and good luck, but the Bizempire Sideline Plan is not for you.
If you want to rather start slowly and grow your business out of its own profits with much lower personal financial risk to your family, but with a longer timeline before reaping the fruits of your labour, then read on.
Reduce that before mentioned warehouse to a few shelves in your garage. Don't target the whole country as a market. Instead narrow your potential customers down to a profitable niche for your product. You can do this by area, profession, age, or whatever division suits you, just don't try and be there for everyone at first.
Reduce your product range. Start with one type of widget if that is what you plan for your business to sell. Widget B and Widget C may very well compliment Widget A, but sacrifice the promises of extra profit for now and just get this thing going as small as possible.
It's probably a good idea at this stage to introduce the concept of your business idea being confidential and a secret. For starters, if your business idea involves something that you wish to patent, then this is going to cost you money. If its any good, you'll probably find unscrupulous persons around the world will copy it anyway, disregarding your payment. Enjoy the expensive legal battles that follow. If its the invention of the decade, then you may want to still go the patent route, but you're in the big league now and that is not the focus for Bizempire.
However secretive you are about your business idea, the moment you start marketing you idea to get customers then your prospective competitors are going to know all about it anyway. Successful business is keeping one step ahead of the others by providing better service, higher quality and innovative ideas. This is an always changing dynamic.
Even if others know of your great idea, they will not necessarily have the same supplier contacts, customer contacts, intimate details on product design and manufacture, your experience and they certainly won't have you. Our point is that there are many aspects to a business and competitors are inevitable. Stop focusing on hiding from your competitors and rather focus on your product/service and your customers. You personality and your skills will give your business its individuality.
Next we try to make the solution fit all