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    Getting Your Ideas Off The Ground

    Getting Your Ideas Off The Ground

    We are continuing to discuss ideas and how to get from that lightbulb moment to a successful business. We’re joined by Colin, Jeffrey, Michele, and our guest speaker Guy Cooper, who give us an insight into what they believe is important when starting up and launching a company.

    Let’s be honest, the list from idea to action is endless, the process is exhausting (and exciting), and it’s one thing after another, but with these simple tips from our hosts and guest speaker Guy Cooper, you may feel a little more at ease with knowing what to do and how to go about setting up your startup. 

    It may be worth getting a checklist ready to add these pointers to our previous session on ‘ideas to actions’ and list the advice from the speakers on stage to help you with your journey.

    Get the right people

    Guy Cooper is an executive coach who recommends aligning your values and your priorities with your business partner. Guy believes this is one of the first places to start when building a whole new business.

    He asks, “What are your principles? What are you aligned to? What’s your mission? You should have a ‘tight mission’ on how things are expedited in that process.” 

    Michele added, “The people in your business are key; the people in your business really make the business and drive the culture.” 

    Your work style, goals, and time needs to align with the partners and business collaborations you associate and work with.

    What do you want the brand to mean?

    Branding and marketing are very important components when it comes to your idea and your business. Getting both right and in line with how you want your brand to be presented and viewed by your customer is a huge chunk of how you go about launching your company.

    Keeping on good terms with investors

    “The person putting the money into the project is the deciding authority”

    If you fail to put your investor first and have the money on the table ready to go, you may find the process of launching your startup a little rocky. Consider who is giving you the money and understand how your investor works. By understanding the profile of your investors, you’ll be able to build a professional relationship, making the process of ‘idea to action’ a lot easier and smoother for both parties.

    The process of raising money for your startup is stressful. Michele recommends having an honest and open relationship with your investors. She said, “Having realistic expectations with your investors is absolutely critical!”

    Michele says the investor needs to be able to trust who they’re putting their money into. Any failed relationship with an investor can be damaging. 

    Colin uses “Stage gates” to keep up to date with where the company should be at each stage of the setting up process, a guide that will keep things in order for both you and your investor.

    Competence

    Guy says that being competent is part of the process of bringing your ideas to life. Not only do you need to be competent in what you know, you need to be competent in what you don’t know. Have the confidence to speak up when you don’t know or understand something. 

    Having the confidence to own up to not knowing something is crucial to building your business relationships. 

    Ask someone to break it down so that you can understand something better and not be ashamed if you don’t understand something, you may even be respected more for admitting you don’t understand.

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