CHAPTER TWO/ NURTURE YOUR IDEA

This chapter has to do with what services  your new business will be offering . In this chapter of the rules of entrepreneurship, the author conveys his practical ways of nurturing  ideas so that it turns out into a reality through thirteen sub headings as follows:

i.                     Ponder, reflect and contemplate. According to the author one way of building a business is to look to your own talents, if you can do something with ease that others find difficult, you might be able to build a business on it. Make sure your business idea matches your temperament.

ii.                   Investigate new markets, niches and opportunity. This is all about doing what business people do all the time. Copying the best of what someone else does, but trying to make it better.

iii.                  Pick up on the market trends. The change in trends in the society provides opportunities for entrepreneurs and intending entrepreneurs.

iv.                 Broaden your perspective. Seek out new experiences. New experiences generate ideas and ideas are the currency of entrepreneurs.

v.                   Transform, transact or transcend. There are lots of ways for a business to make money: (a) you could transform materials for a living by converting raw materials into finished goods. (b) You could build a business that transacts with customers for a living. For eg, fixing a basic number of mechanical problems with cars, etc. (c). you could set up a business that tries to transcend in its interaction with customers eg seeking ways to invest your customers’ money in order to provide for their retirement.

vi.                 Go 3D : As long as it is legal and you are meeting a customer’s need, why not do it? 3 D jobs are difficult, dirty  or dangerous.

vii.                Go against the crowd. Be careful not to follow the crowd wanting to do a thing just because is popular or because everyone is doing it.

viii.              Harness the power of three. You could get some friends together at least three and do some brainstorming and see if they could help come up with an idea .

ix.                Scribble before you sleep.

x.                  Trust your gut. Trust your instincts, your feelings.

xi.                Think buyer not seller.

xii.                Ignore the nay – sayers.