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The Richard Branson Way to Turn Your Idea Into A Huge Business

The Richard Branson Way to Turn Your Idea Into A Huge Business

If you’ve been dreaming of becoming an entrepreneur for quite sometime, you probably have numerous ideas that can be turned into a business by now. However, you might be struggling on how to put one or two of these ideas into fruition. Because you have never tried starting a business, you are at a loss without knowledge of exactly where to begin.

This is where Richard Branson comes in. He can help you have a head start and tell you precisely the steps you have to take, from the beginning to the final steps. Then you’ll be running your own business, for real. He believes and, in fact, suggests that after you have graduated, you continue your education by taking online courses, looking for mentors who will share their business wisdom, and, most importantly, exposing yourself to real world experiences. (Most business schools don’t teach you how to deal with real world scenarios you’ll surely encounter in the business world.)

Start your own business, or join a group of entrepreneurs working on a startup — be a volunteer. This second way, you’ll be immersed in the world of the entrepreneur without spending a dime, and you’ll see the nitty-gritty involved in the real deal.

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Let’s focus on you starting a business on your own. Once you have thought out an idea for a business, you don’t do anything practical yet. What you have to go through is much simpler.

1. Incubate.

Go to your favorite place; somewhere you can relax and dream and incubate your idea. It could be anywhere: the main principle here is to go to a place where you can feel at home with minimal distractions and start envisioning the company you’ll build based from your idea. This company should be something that you can bet your time, heart, soul, and hard earned cash on.

Branson is very definite about one thing. You must be enthusiastic about how your company will make a difference in people’s lives. He continues to explain that this is a crucial factor you must figure out because if you truly love your work, you’ll have a bigger chance of succeeding. If you’re in love with your idea and the way it will help other people, you’ll persevere and weather the storms of turning an idea into a huge business. It’s very important that you can persist despite the long hours, the trials, and the tribulations you have to go through to put up a company.

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2.The mum test.

The next thing he suggests is something that is unexpected. Indulge in the mum test. This involves talking to your mum, describing your idea and the empire you will create out of it. If she’s not excited and doesn’t have anything positive to say about your venture, you have to start all over. Go back to your creative space and start thinking of other ideas you can pursue. On the contrary, if she is elated, even pumped up, upon hearing your idea, go ahead with your plans. You might be birthing a real winner!

Frankly, I was a bit hesitant to follow this suggestion. Here’s the reason: my mother is not business savvy like Branson’s mum. However, all mums have instincts on what is best for their children. Your mum will have your best interest at heart when you discuss your entrepreneurial dreams with her. This being said, it’s undoubtedly safe to go through this step.

3. Put your idea out there.

The next step involves risk. Many entrepreneurs stall on this stage. They spend more time perfecting their plan than actually operating their business. The reason is simple: they are afraid to take the risk of putting out their business idea, scared of committing time, effort, and resources into the project. To this, Richard Branson says, “Successful entrepreneurs don’t wait for the perfect moment — they create it.”

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Develop some samples of the product or service you would like to sell. Upon reaching the point where you are happy with what you see, gather the least amount of funds to start the best and cheapest form of market research you can launch. You can do this with family members, relatives, your friends, neighbors, and your social media followers. Encourage them to try your product or service. In case you receive not-so-encouraging reactions, don’t fret. Consider tweaking the original idea to cater to the taste of your target market. Richard Branson encourages would-be entrepreneurs like you to not be discouraged at this stage. Making changes on your offering doesn’t mean your original idea isn’t good. This is just a natural occurrence in the process of improving your product or service. It’s just the initial adjustment, or a few of them, you need to make in your plan. Branson reminds all who want to dive into the sea of entrepreneurship — “Flexibility and the ability to solve problems creatively are great qualities in an entrepreneur.”

4. Time to sell.

After making those changes, it’s time to try selling your product (in small batches at first) or start offering primary introductions to your service wherever it’s possible —  door to door, online, at trade fairs, etc. Take feedback from early customers and keep in touch with them. At this point it’s critical to do your branding right.

According to Branson, ask these questions: “Does it stand out? Do your brand values attract eager customers? Will they also attract talented employees?

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5. Start talking to potential investors and distributors.

As you continue to encourage people to try your offerings, and they start to give you consistent positive feedback, you should begin thinking of producing more of your product or your service.

As you manufacture more of your products, practical issues will arise, issues like what’s the best way to manage cash flow or how to distribute your product efficiently. While this is happening, it could be a good idea to start scouting for potential investors and distributors to pitch them your idea. Also, at this phase, it would be wise to begin hiring and delegating responsibilities to employees.

To wrap up, Richard Branson puts it well. He says, “If you’ve followed the steps above, you may soon realize that I’ve pulled a tiny prank on you: You’ve now got a working startup, without ever having set a launch date. Great work!”

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Source: Richard Branson on Turning an Idea Into a Business by Richard Branson via Entrepreneur.

Featured photo credit: Photo Credit: Fran Monks via Compfight cc via compfight.com

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Anthony Dejolde

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Last Updated on May 23, 2021

10 Best Free Job Apps You Need For Effective Job Hunting

10 Best Free Job Apps You Need For Effective Job Hunting

Seeking for the right job but not sure how to do it in a more effective way?

Try job search apps!

To make the job hunting process easier, I’m recommending 10 best job apps that can help you look for the right match anywhere at any time. The best of all? They’re all free!

1. jobandtalent

jobandtalent

    Great for browsing new jobs as you commute home via subway, bus or carpool, the jobandtalent app is like a Pinterest for job seekers.

    Easily browse, save and revisit job postings from your smartphone and receive notifications about jobs that match your professional qualifications.

    Download it for iOS and Android.

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    2. Jobr

    jobr

      This job hunting app is unique in that it lets you anonymously browse job listings based on your professional resume. If a company that you like also shows an interest in you, the app let’s you chat directly with a company rep. Great for getting your foot in the door and making a memorable impression.

      Download it for iOS.

      3. Monster Job Search

      monster job search

        I’m a big fan of Monster. It’s one of the first job sites employers think of when they want to list a new position online. The Monster Job Search app functions pretty similarly to the normal website, so it’s very easy to use for not-so-tech-savvy job hunters.

        Download it for iOS and Android.

        4. Jobs and Career Search

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        job and career search

          This is a good, simple app for browsing global locations for your next job. With a job index of more than 50,000 jobs listed globally, this app is a good choice if you are moving to a new area and want to line a new job up quickly.

          Download it for iOS.

          5. Hyper Networking Groups

          hyper networking groups

            This job hunting app isn’t so much a job hunting app as it is a connections hunting app. It’s great for learning who’s who in your desired field and forming connections. It also shows you how you and your industry connections are connected via your social networks, so you can follow up with them on your other social sites.

            Download it for iOS.

            6. CardDrop

            CardDrop

              CardDrop is an awesome job hunting app that let’s you digitally drop and pick up virtual business cards. This app is great for helping you make new connections at seminars, interviews, meetings and conferences. You can also attach social media profiles to the cards you pick up or send to enable easier connecting on social networks.

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              Download it for Android and iOS.

              7. Job Interview Questions

              interview questions both

                Okay, so this app looks kind of outdated, but it’s super useful for getting you into the swing of answering any kind of interview question that is thrown your way. The big benefit of using this app is that it explains to you what your interviewers motivations might be for asking you a specific kind of question. Learn what your interviewer is looking for in your answers and be more prepared for the real interview when the time comes.

                Download it for Android.

                8. 101 Interview Questions and Answers

                101 both

                  This app is great because it provides guidance about the kinds of answers you should give for each kind of question. Think of it as an essay rubric but for job interview questions.

                  Download it for Android.

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                  9. Job Interview Question-Answer

                  q and a

                    Feeling confident with your text-answered interview questions but concerned about doing the face-to-face interview? This app prepares you for interacting with your interviewer by simulating an employer asking you questions.

                    You can record your response and see what you look like to the interviewer to understand what movements, vocal pauses, etc. you need to work on.

                    Download this app for iOS and Android.

                    10. HireVue

                    hirevue

                      HireVue is a great job hunting app for those times when your interviewer wants to get some preliminary questions out of the way.

                      When an interested employer wants to interview you, they send you a request via HireVue and you can answer it in your free time, when you’re ready. Your interview might consist of a some FaceTime, some multiple choice questions or open-ended text answers and can be completed and sent to the interviewer when you’re finish.

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                      Download it for Android and iOS.

                      Featured photo credit: Yura Fresh via unsplash.com

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