8 Steps To Turn You Idea Into A Business

 
Have you ever been suddenly struck with a genius business idea? It can be quite the journey when turning something scribbled onto a napkin into a fully sustainable company.

 Take these eight fundamental steps for every entrepreneur to set your idea into motion.

1. Figure out what the problem is and how to solve it
Many businesses claim to have solutions, but what specific problem are they really eliminating? Taking a step back from your business idea will help you learn more about its core function. Remember, all successful companies, products, or services enhance the lives of their customers by eliminating a problem.

2. Identify your market
In a vast sea of consumers, it’s important to spend time figuring out who your ideal user is. With so many different habits and needs to fulfill, your solution should fit into a market and into the lives of people.

Unsuccessfully getting people to understand and want your product or service is one of the biggest startup mistakes to avoid.

3. Find your support
The support of business partners can be incredibly beneficial when you’re first starting out. These people can act as your support system, a sounding board for ideas, and provide evidence to others that you actually have a good idea. The relationships you building with other entrepreneurs will give you access to valuable knowledge. By developing relationships with seasoned entrepreneurs, you will have the opportunity to pick their brains and hear what they have learned from their own experiences of starting a business.

4. Create and plan your financial model
Financial viability is incredibly important to start up success. Develop a “bottom-up” financial model that focuses on how your product or service is created, marketed, and sold to a user. This model will give you insight into the functionality of your business. To verify your projections, develop a “top-down” financial model that allows you to examine the size of your market and what goals you need to reach to turn a profit.

To plan your first phase, gather your team and mentors and map out the foundation of your company: mission, objectives, keys to success, target market, competitive advantage, and basic strategies.

5. Find your source of capital
Money is an important factor to getting your business off the ground. Some great sources of money can be self-funding, money from people you know, credit card, loans, and depending on the amount you need, angel investors or venture capitalists may be beneficial to backing your mission for a portion of the profits.

6. Build the MVP
The minimal viable product (MVP) provides you with the feedback needed before putting your idea on the market. The idea is to create a product that is great (viable), yet has room to improve (minimal). This will allow early adopters to jump on board and provide the feedback needed for improvement.

7. Find the pivot
Early adopter feedback is necessary to learning what works and what doesn’t. Sometimes the feedback ends up being different than anything you’ve expected or planned for. This can lead you to “pivot” your business model, or change a fundamental part of it. This function allows you an attempt to prevent failure by taking what you’ve learned and using it for your new direction. Pivoting is just the recalculation of a new route.

8. Stay positive
The necessary risks of entrepreneurship are often interrupted by self-doubt. While people will question your ideas and your business, it’s important to stay above the negativity, rather than becoming it. Focusing on positivity will make it easier when you eventually do make a mistake or face an obstacle.

The journey to building a sustainable business won’t be like most processes. While there is no guarantee of success, you can adapt your idea and see what works.

C172 COCKPIT

	AIRSPEED INDICATOR This instrument shows the current airspeed of the aircraft in nautical miles per hour. The green arc is the normal operating range. The bottom of the green arc is the stalling speed with flaps up. The bottom of the white arc is the stall speed with flaps fully extended and the top of the white arc is the maximum speed with full flaps. The yellow arc is the safe range only when in smooth air. The red mark is the speed that should never be exceeded. Note that airspeed is the speed of the air hitting the aircraft and is usually different from ground speed
	ATTITUDE INDICATOR This instrument shows the current relationship(pitch and bank) of the aircraft to the horizon. The orange lines represent the aircraft wings. The blue area represents the sky and the brown is the earth. In this example the aircraft is flying level(neither climbing nor descending) but is banking to the left. The AI is powered by the vacuum system and gets it's readings from a built-in gyroscope.
	ALTIMETER This instrument shows the current aircraft altitude or height above sea level. It gets it's reading from the static system and must be adjusted to the current air pressure setting for accuracy. If the pressure setting is unknown it may be set to the airport elevation before takeoff.
	TURN CO-ORDINTATOR This instrument shows the rate and quality of a turn. The rudder pedals are used to adjust the yaw of the airplane and maintain coordinated flight which is indicated by the black ball being centered as shown here.
	HEADING INDICATOR This instrument shows the direction of the nose of the airplane and is much easier to read than the magnetic compass. It is powered by the vacuum system and must be set to the magnetic compass before takeoff and periodically during level flight to maintain accuracy. The orange tab is a heading bug that may be coupled with an autopilot if the aircraft is so equipped.
	VERTICAL SPEED INDICATOR This instrument shows the rate of climb or decent in hundreds of feet per minute. It gets it's information from the static system. The needle shown here on the zero means the aircraft is neither climbing nor descending.
	TACHOMETER This instrument shows the revolutions per minute of the aircraft engine just as in an automobile, however the tachometer is much more important in flying. Many aspects of aircraft performance may be predicted at given RPM settings.
	MAGNETIC COMPASS This instrument is simply a wet magnetic compass. It has no external power source so it could be used in case of other instrument failure. It is susceptible to turning and acceleration/deceleration errors while the aircraft is moving.and therefore is not generally used in the real time navigation of the aircraft but as a reference to set the heading indicator.
	VOR RECEIVER w/ GLIDE-SLOPE This is a navigational instrument that can be tuned to ground-based electronic beacons called VORs(Very High Frequency Omnidirectional Range) or to an ILS(Instrument Landing System) which allows a precision approach to a runway. The precision approach involves lining up both the vertical needle(localizer)and horizontal needle(glideslope) on final approach to guide the aircraft down to the runway on the proper angle. The typical configuration in an aircraft includes two of these instruments, one with glideslope and one without.
	VOR RECEIVER This is a navigational instrument that can be tuned to ground-based electronic beacons called VORs(Very High Frequency Omnidirectional Range). It can also be tuned to an ILS(Instrument Landing System) however this unit shows no glideslope information and therefore can be used for a "localizer only" approach. The typical configuration in an aircraft includes two VOR instruments, one with glideslope and one without.
	AUTOMATIC DIRECTION FINDER The ADF is a navigational instrument that can be tuned to ground-based electronic beacons called NonDirectional Beacons(NDB). Most NDBs are on or near airports. When tuned to a specific beacon, the ADF needle always points toward that beacon.
	VACUUM GUAGE / AMMETER The vacuum gauge show the pressure created by the vacuum pump which is needed to operate the Attitude Indicator and Heading Indicator. The Ammeter indicates the quality of the alternator/charging system..Note that these two items are often displayed with separate gauges depending on the model/year of the aircraft.
	FUEL QUANTITY Most small aircraft have two fuel tanks, one in each wing. This gauge indicates the level of fuel in each tank. Unlike an automobile, these gauges are used only as a cross-check. Pilots are trained to calculate their exact fuel consumption before a flight and leave a reserve of at least 30 minutes for daytime and 45 minutes at night
	EXHAUST GAS TEMPERATURE / FUEL FLOW To get proper performance from an aircraft, the fuel flow must be "leaned" at altitude to compensate for the decrease in air density.This gauge helps the pilot lean the fuel for best efficiency. Note that some aircraft do not have this gauge and must be leaned by watching the Tachometer while slowly adjusting the mixture control.
	OIL TEMPERATURE / PRESSURE GUAGE This instrument monitors the temperature and pressure of circulating oil in the aircraft engine