By Annie Finnigan Turn Your Idea into a Business
You have a great idea and you're ready to dive in. But before you take the plunge, follow four steps that will save you time, money and a lot of heartache.
1. Imagine It
Figure out if this is really what you want to do.
"You don't have to have a passion for your particular product or service," says real estate guru and star of ABC's Shark Tank Barbara Corcoran. "But you must be excited about making your business a success, which gives you the stamina you need to get through the ups and downs."
Is the business a good fit with your life? To find out, try the U.S. Small Business Administration's Starting Up Assessment Tool, which evaluates your skills, personal traits and experience.
2. Research It
To determine if your idea is a winner, you need to know if it fills a need, and if there is a market for it. You also need business sense. So talk to everybody. "Don't be afraid toRead More »from Turn Your Idea into a Business