Entrepreneurs Should Keep It Simple When Starting Their Business
If you fancy yourself an entrepreneur with a brilliant business plan that's primed to make quite the splash in the business world, chances are you have plenty of ambition. This isn't a bad thing. In fact, it's decidedly vital - if you didn't have at least a few grand hopes and dreams for your new product or business service, you probably wouldn't succeed.
However, it's not good to become ego-driven, nor is it a good idea to come up with an idea that you lack the capital, personnel and simple capabilities to execute. You might want to take a cue from the ideas behind lean manufacturing, a business principle that has become quite pervasive during the past few decades.
First appearing among Japanese businesses, lean manufacturing concepts emphasize doing more with less - emphasizing efficiency, cost-effectiveness and optimum productivity by keeping project designs (and their budgets) simple, restrained and realistic - and most importantly, entirely relevant to the potential customer or client's needs. Examples of lean guidelines include the principles included in Six Sigma and Kaizen.
In the field of entrepreneurship, these concepts can still be applied, just in a slightly different manner. Those looking to form a start-up company around a product or service should keep it simple. Don't design anything incredibly complex - get it finished with as few resources as possible without sacrificing quality, and then release it onto the market.
Resist the temptation to fall into a publicity quagmire. Get the product out there before you become overly concerned with marketing. This isn't to say you shouldn't do any marketing - you'll probably have to do some - but don't get carried away. If your product doesn't deliver on the promises you've made, your potential for success in the business world will be severely compromised.
Do you have any great business ideas kicking around in the back of your mind?