Business startup idea

Chacha97

Hi I'm currently seeking advice for the best way to try get a business idea off the ground. Feel as though my first call should be to LEO but wondering what should I have ready or completed for them for a start up proposition? ThNks

drunkmonkey

Cash flow forecast, start there.

The_Honeybadger

Just give the LEO a call and try to get an appointment with one of their business advisers. I would imagine that they are very busy right now with everything that is going on so it may be just a phone conversation for now.

I wouldn’t be overly concerned about having a full business plan or cash flows ready for the initial meeting but the more prepared you are the better of course.

Cianos

The worst outcome isn't the idea being not good enough, it's finding out the idea isn't good enough after pouring lots of hope, energy and money into it. So you should first be looking to "break" the idea. Don't go in with blind optimism, don't accept words of encouragement from friends/family as business validation. The likes of LEO might not challenge the idea that much, their role is to facilitate, provide supports etc. Posting the idea here and other places where you can expect unbiased feedback is a good way to gauge the validity of the idea, or rolling out an 'MVP' version to gauge market response.

Chacha97

Thanks very much guys. Yeah that was one of my worries was pouring too much into it and then not getting anywhere with it. Suppose mainly looking at being prepared for that initial meeting to explore the idea and then if the idea is worth exploring to work on the next steps I.e. plane etc.

I appreciate the efforts they must be making in the current climate and the pressure they must be under. With regard testing a MVP in the marketplace, I am worried that if I was to test it in the marketplace too soon it would turn people off or be crushed by competitors as it is a website producing a service. I am not from tech background but have created basic wordpress site with plugins but the business idea will need a more solid platform if it were to be explored further. I appreciate that a MVP will be needed and tested in marketplace but I need to get it to an acceptable level.

Atomic Pineapple

Needing things to be at an acceptable level almost always leads to one more fix or one more tweak, or one more bug that needs to be addressed. Unless you have very explicit items and timeline that gets you to that "acceptable" level, I'd just get it out there. No matter what stage you execute at, you're susceptible to the marketplace or competition. It is better to get out early, validate your idea, and iterate on it. User feedback is gold.

Chacha97

Atomic Pineapple wrote: »

Needing things to be at an acceptable level almost always leads to one more fix or one more tweak, or one more bug that needs to be addressed. Unless you have very explicit items and timeline that gets you to that "acceptable" level, I'd just get it out there. No matter what stage you execute at, you're susceptible to the marketplace or competition. It is better to get out early, validate your idea, and iterate on it. User feedback is gold.

Thanks for the feedback! I'm in total agreement with you in getting it out early, validate the idea and gather the user feedback which is the the aim.
Not being from a website building background has me conscious of creating a platform that is usable more so than being of an "acceptable level''.

ozo45

Check out website of Enterprise Ireland as well