Every giant organization, firm, or business you see in any part of the world today was once an idea. It began as a seed in the mind and was nurtured through diverse processes to be what it is presently. How did a little seed in the mind become a big business? That is exactly what business creation is about-turning business ideas into reality. This article explains what business creation is, talks about online business creation as well as business plan creation software. Finally, We will also look at business website creation. Let’s roll !!!
What is Business Creation?
Business Creation is the various steps or models that help in turning a concept into a viable company venture that can compete in the present market. It is consists of phases that every business must pass through to compete in the ever-changing business environment. However, there are at least six stages every great idea must go through in business creation.
Processes of Business Creation
The following are the necessary phases that every great business idea must pass through. Whether it is an online business creation or a physical product or service, it begins with an idea and follows some of these processes too.
#1. Idea Discovery
The discovery stage is where one birth ideas for business creation. Two rules are guiding this phase. The first is problem identification and the second is proffering solutions to the problems identified. The problem you identify can be in an existing market ( product or service)
such as Tom Monaghan did with Domino Pizza. His business partner balled out of the game but he stayed to discover the problem with the pizza industry. The only thing that differentiates one pizza industry from the other is taste and price, however, they have a common problem- slow delivery. To curb this, he coined a ten-word unique selling point USP that reads thus “ Fresh Hot Pizza Delivered in 30 Minutes Or Less Guaranteed” these 10 words to date is what made Domino Pizza.
#2. Feasibility Assessment
Indeed, every big business was once an idea. Nevertheless, not every business idea will be viable, practicable, or achievable and once it fails these three scopes, It cannot lead to successful business creation. Moreover, there is a need to subject every idea to critical analysis and assessment. This will save you from loss of time, effort, and money. A good idea is not enough nor a promising idea. You must text for practicability before proceeding to the next phase. You do this through a series of research and survey.
#3. Draw a Business Plan
A business plan is one of the most important aspects of business creation. It serves as a benchmark that points to the direction of your business. It provides clarity and guides your ideas and vision to reality. The business plan contains the company description, executive summary, market survey, Competitive advantage, financial forecast, and other relevant information. A good business plan will also help in getting loans, grants as well as investments.
#4. Launch your idea
Having tested the viability of your business creation idea and also drawing up the pathways through the business plan, you go ahead and launch the business.
#5. Grow your Business
Your business idea will not remain at the start-up level. You will have to design strategies, come up with better innovative technology as well as a strong management team that will shift it from one level to the other. A good business creation should move from start-up to medium scale and then a large scale. It takes time but commitment, a good management team, and satisfied loyal customers make it possible.
#Exiting your business
Most often, people do not consider the exit of their business. We are interested in the start-up and how to advance the business creation but rarely consider the exit. Moreover, the business that does not consider its exit most likely will not get to a large-scale stage nor IPO. Making plans for exit strategy does not mean you are about to be bankrupt or lack a good management team. It simply means you are separating yourself from the management as the sole owner of the business. There are several options available in existing your business. It could be to pass it on to a family member, get a merger, liquidate the business, file for bankruptcy, sell the business, and so on.
Online Business Creation
Presently, we find most businesses online. Thanks to the internet that made the world a global space.
Having both online and on-site business have great benefits. It enables you to get across more customers or clients- improves brand visibility and this equals more sales and contracts. Moreso, on-site businesses are being advised by professionals to go online because of the diverse opportunities in it. So any entrepreneur that intends to get across to more clients in 2023 is to consider online business creation. Although online business creation has an advantage over on-site, both are needful in today’s marketing environment.
How do I take my existing business online or create my business ideas online? Always remember this, every business begins as an idea and is nurtured into reality- that includes online businesses.
Steps To Online Business Creation
The following steps guide online business creation. It is a step-by-step process on how to successfully take your business online.
#1. Business Idea and Focus
First, find a problem, discover its solution, and then, decide on what type of business it will be online? This is the focus of your online business. Before starting up a business, you are to know the type of business it is. You have to decide whether it is a product, service, or both. Likewise, you are expected to have clarity on the focus of the online business you intend to start. For instance, Netflix, Amazon, Google are all online business ideas. However, they all differ. While Facebook builds community, Netflix is strictly for entertainment, Amazon is focused on retailing anything sellable. Likewise google, Bluehost, and the rest of the existing online businesses we have. However, the most important thing is identifying a problem, Tom Mahaaghan of Dominio Pizza, and providing solutions to the problems. Which is the core focus of being an entrepreneur.
Some Online business creation focus includes the following;
- Saas – Software as a service
- Affiliate Marketing
- E-commerce
- Freelancing
- Consulting
- Digital products
- Delivery Service
#2. Research Your Ideas
To successfully build an online business creation, you must research your ideas. This is because an appealing idea does not equal an achievable idea. Thus, the ideas have to be critically assessed to ensure it is worth the investment of time, energy, and money.
In researching your ideas, you validate by testing the market, customers’ needs as well as customers’ willingness to demand your products or services (ideas). You also research the regulations guiding your business.
#3. Create Your Business Plan
Having researched your ideas and identified your business focus, you create your business plan. For online business creation, you need to set the business structure, determine ways of improving visibility. To succeed online, you need to always be available. That is Show up. Decide on how to post and where to post using your content calendar. Also, there is software available with templates to help you with your business creation.
#4. Register Your Business
Registering your business with a relevant body is paramount to the success of your business. Also, ensure to register the business name as well.
#4.Create Website
For someone into affiliate marketing, there may not be a need for a website. However, you must increase your visibility through other social media account. You can also decide to use landing pages in place of the website to start. Just in case you want to use landing pages, you can consider intuit. However, having a website has the advantages of traffic which is a good boost to your online business.
#5. Develop Product Or Service
Whether it is a product, service, or affiliate, you have to test run the ideas before starting out.
#6. Keep Advertising
For online business creation, there are diverse means of advertising. You can decide to advertise using Facebook, Instagram, Google, and the rest of them. You can also get someone with influence to put in some good words for you on their media platforms.
Business Plan Creation Software
Writing a convincing business plan may be exhilarating. Also getting professionals to write it may not be budget-friendly. However, Business plan creation software helps entrepreneurs, start-ups, and business developers to articulate and create business plans using templates. Writing a business plan is quite easy when you use the right software. Although, there are a variety of business plan software options available, some of them have advantages over others.
Top Best Business Plan Creation Software
Some of the top best business plan creation software available are as follows; These are random selections based on the software we already tried out.
#1. BIZPLAN
Bizplan business plan creation software is specifically for entrepreneurs who desire to attract investors. It has a monthly fee of $27, an annual fee of $249, and a one-time payment-lifetime access fee of
Some of its features include, Investors will be able to view your business proposal online, Build a business plan with drag-and-drop templates., it uses a financial command center to track your finances.
#2. LivePlan
LIfeplan made it to our top best business plan creation software for its proficiency and affordability. It has an annual plan of $180, a bi-annual plan of $108, and a monthly plan of $20. Some of its features include the following; step-by-step expert instructions, over 500 business plan creation template to choose from, export business plan in documents format, allowing for real-time accounting, and so on.
#3. GoSmallBiz
GoSmallBiz offers three specific services to businesses which are GO, GUIDE, and GROW. The Go has a yearly cost of $170, Guide has a monthly cost of $39 while Grow has a monthly cost of $49. Interestingly, they all serve various purposes. The growth for reaching new customers, the guide for their expert services, and the Go for new businesses. Some of its features include Creating a website, building a business plan, drafting laws that will govern management, creating a new business entity, and so on.
#4.Wise Business Plan
In addition to business plan creation software, wise offers businesses other task management tools templates such as balance sheet templates, invoice templates, income statements, profit and loss templates, and so on. Also, it has a friendly budget of $10 per month.
#5. Planguru
Planguru in addition to being a business plan creating software is a budgeting and financial tool. Its features are several as it combines both business plan, forecasting, managing tools for businesses.
Business Website Creation
Before deciding on website creation, you must have identified your business focus. To succeed and meet up the demands of today’s marketing environments, it has become necessary to own a website. Especially if your business is not affiliate marketing. Almost every product and service fits into the online space and if you must remain relevant, you will have to consider a website business creation.
There are guides and processes that will help you in your business website creation and some of them are highlighted below.
#1. Get a Good Domain Name
This is the first step towards business website creation. A good domain name will make your website easy to find. Ensure you make use of a good extension, be sure no one is currently using the domain name. Avoid characters, numbers as well as hyphens
#2. Get a Good Hosting Company
The second step to website business creation is getting a good host company. Hosting companies are service providers that enable your website to be seen online. The most common is Bluehost and there are a host of others that serve the same purpose.
Select a website-building platform.
#3. Give a Brief Description of What You Do
This is another important part of the business website creation, as it tells your visitors what you do and who you are. Also, ensure you put a unique image that describes who you are, and do not forget to add the About us button below the page.
#4. Choose a Theme or Template
There are usually several options available, just pick one that best suits your ideal business interface. Remember, your interface must be user-friendly and also be appealing. Ensure your images and fonts are catchy.
#5. Optimize Website For Search Engines
This is a method of optimizing your content so that it appears higher in search engine results pages SEO This entails the diverse things you have to do with your content to increase its visibility. It ranges from keywords to adding both internal and external links. It also involves adding image keyphrases and a whole lot of others. The purpose of this is to ensure that the web crawler index your post with other relevant posts to generate more traffics. Finally, some plugins make optimization much easier such as Yoast.
#6. Pay Attention To Pages
Some of the pages to pay attention to include the contact page, the about page, homepage, Blog, and the product and service page where necessary.
#7. Always Put Up Content on Your Website
A content calendar is helpful here. This is because, people love to see something new, interesting, different from what they already know. Also, do not just publish content, make sure your content is valuable. This means you will have to research every write-up before publication.
#8. Install Analytical Tools
These are tools that help you track the activities, visitations, backlinks, and overall wellness of your website. Examples include Google Analytics and Google search console, Bing Webmaster, and so on. Analytical tools do some of the following;
- The time it takes to download a web page
- The site has several broken links.
- Keywords that bring people to your website
- Visitors’ average time spent on the site
- Backlinks pointing to your website
#9. Design a Website Maintenace Strategy
Just as a body that is not taken care of will become unhealthy. A website is likely to lose its beauty once it is not maintained. Therefore, it is important to look out for your website.
Conclusively,
Business creation is a journey of how ideas are turned into reality. Every viable idea can be turned into a profitable drill, but then, it has to go through processes. Finally, following the processes with keen determination will yield positive results. This is because a business idea is a goal. One that adequate planning and strategies will birth into reality.
