So, you’ve hit on a fabulous idea for a product, service, or even an entirely new business, yet when it comes to figuring out how to get that idea off the ground, you’re well and truly stuck.

Sound familiar?

Don’t worry. You’re not the only one.

At one time or another, many new business owners struggle with knowing where to start.

That’s why I put together the following guide, drawing on my experience of starting multiple sides-business so that you can learn the six simple steps needed to get that great idea off the ground and transform yourself from a directionless wantrepreneur into a thriving and successful entrepreneur.

Also See: Side hustles you can start with no money

How to Get An Idea Off the Ground: 6 Simple Steps

1. Make Time For Your Idea

Finding time to bring your great business idea to life comes with its own set of challenges, especially when there are other responsibilities, such as your day job and family commitments to take care of.

Still, it’s essential to overcome these challenges right at the very beginning if you’re ever going to get started.

You’ll find detailed advice on how to do this in my guide to making time for a side hustle.

If you don’t have time to read that right now, here are a few quick tips:

Set your alarm an hour earlier and work on your idea before the day begins
Set time aside in the evenings or weekends
Create a list of easy micro-tasks you can complete in your downtime, such as replying to emails while waiting to pick the kids up from school.

If it’s your 9-5 that’s stopping you from capitalizing on your recent flash of inspiration, I also recommend you read 11 Steps to Starting a Side Business While Working a Full-Time Job.

2. Do Your Research

Over the years, I’ve met many small business owners who fall into one of two categories.

A. Those who are so crippled with fear about the risks and potential for failure of their new idea that they never do anything about it.

B. Those who are so cocksure about their idea that they rush to market without ever validating whether that market exists in the first place and are stunned when it proves not to be the game-changing money-maker they thought it would.

Neither mindset is helpful.

Even the best ideas are worthless if you don’t act upon them. However, acting without first checking that your idea is as good as you think could mean you invest countless hours and dollars for nothing.

This is why it’s so important first to do your market research, asking key questions such as:

What problem does my idea solve?
Who are the people that want a solution to this problem (i.e., your target audience)
What would these people want from a solution (features, benefits, etc.)
How much would they be willing to pay for it?
What types of marketing and advertising do these people respond best to?
Who are my competitors? What solutions already exist to this problem?
How is my idea better than these existing solutions?

You can gather this information through surveys, focus groups, as well as consumer research tools like Global Web Index and, of course, some good, old-fashioned Googling.

Doing so will not only help you to determine whether your start-up idea is likely to succeed but will also provide you with valuable insights into how to make it succeed by targeting the right audience with the right messages in the right places.

3. Take Stock

Next, make a list of every single thing required to get your idea off the ground.

This may be specialist equipment or components to make your new inventions, specific business licenses for a service-based business, or certain software.

No matter what your idea is, you’re also going to need marketing tools such as a website, social media presence, and perhaps even business cards and flyers.

Don’t forget, too, about the kind of skills and knowledge required to make your idea a success. I don’t just mean the kind of technical skills required to create your product or deliver your service but also the different skills required to run a business, such as bookkeeping, sales, and marketing.

Once your list is complete, take a sheet of paper and divide it into two columns labeled “HAVE” and “NEED.”

Now, place each item on your list in the most appropriate column. All of the tools, skills, and other assets you own go in the “HAVE” column, and those you need to acquire go under “NEED.”

The aim of this exercise is to identify your goals and next steps.

For example, if your “NEED” column lists a $5,000 piece of equipment, but you don’t have enough money in the bank to pay for it, your first priority might be to create a detailed business plan to attract funding from investors.

Whereas, if your “HAVE” column showed that you had $5,000 in financial savings, your first goal would be to buy that equipment.

Related: Turning you passion to profit

5. Set Big Goals and Break Them Down

Big ideas require big goals, so your next task should be to outline the long-term outcome you want to achieve.

Make it as specific as possible.

For example, if your ultimate goal is to quit your job and become your own boss, how much money will you need to save to support yourself once you’ve handed in that resignation letter?

Write your answer down in the form of a clearly-defined goal, such as:

“Earn $20,000 profit from my idea by July 2024 so that I can quit my job and run my business full-time.”

Of course, $20,000 is a pretty lofty goal, so to make things easier, use a technique called “Reverse Goal Setting,” in which you work backward from your long-term goal, setting milestones and noting the tasks needed to achieve them.

For example, say you’re starting a consulting business.

You’re charging $100 per hour with a minimum 10-hour service contract. So you’d determine that to achieve your goal of $20,000, you’d first need to get 20 clients.

To get 20 clients, you’d first need to generate over 900 leads, based on an average conversion rate for B2B services of 2.2%.

(source: RulerAnalytics)

To get those 900+ leads, you’d first need an effective lead-generation system, and to create that system, you’d first need to identify the tools and strategies it would include.

Keep working backward, using the principle of “in order for X to happen, Y has to happen first” until eventually, you’ll reach your starting point, that first small and crucial action you need to take to make the rest of your plan happen.

6. Use Rewards to Stay Motivated

Success may be its own reward, but when you’re just starting a new project, even the faintest glimmer of such success may be a long time coming.

This can be demotivating, so you can help to keep yourself invested by giving yourself small rewards such as “If I commit to spending three hours today finding new clients, I’ll reward myself with a glass of wine and a good movie” or “When I make my first sale, I’ll celebrate by treating myself to that gadget I’ve wanted to buy.”

Using this reward system helps you maintain a positive, focused attitude toward achieving your goals.

What’s more, incorporating rewards into your journey nurtures self-care and well-being. It allows you to take breaks, relax, and engage in activities that bring you joy, which can prevent burnout and improve overall satisfaction with your work.

How to Get An Idea Off the Ground: Final Thoughts

Whether you sought out this guide because you were nervous about things going wrong or just couldn’t figure out where to begin, I hope I’ve put your mind at ease that getting any idea off the ground is neither as daunting nor as complicated as it sometimes first seems.

Ultimately, it all comes down to a few simple factors:

Make a commitment to spend time on your idea – Set time aside in your schedule that is dedicated solely to your project.
Plan how you’ll spend that time – Use reverse goal setting to identify key milestones and the actions you need to take to achieve them.
Find ways to stay motivated – It may be some time before you see the fruits of your labor. In the meantime, keep yourself engaged by finding ways to celebrate even the smallest of victories.

With all those important lessons learned, there’s only one thing standing in your way:

You.

So, stop reading this. Close your browser, go out there, and make your big idea a reality.