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Getting A Business Idea Off The Ground



You must’ve already gone through a similar scenario in your life wherein you were once filled with so much hope for a goal, only to be disheartened by the means to get there. Well, life doesn’t really grant fast passes to worthwhile triumphs.

Same goes for the business realm. To turn a concept into something concrete, you must have the drive to get it done, the patience for its long hours of effectuation, and of course, the willingness to execute.

Now, this is going to sound really simple – and it is going to be simple – but it’s not going to be easy. Before moving from the idea stage to the creation of a profitable business, all you have to do is, when the passion becomes a force too strong to be reckoned with, begin.

Go from there.

In your journey, take the following notes along:

Are You Offering A Solution?

If you can ask the question “is this a solution to a problem?” to yourself and hear or feel a voice in you that says “yes!” in the most rigid tone possible, then you’re off to a great start. Some of the most successful and progressive businesses have this part in the prologues of their success stories.

Sara Blakely, for example, once prepared for a party only to realize that her white pants were telling her that she didn’t have the right undergarment to smoothen its look. Her business idea then (and her thriving business now) was given birth to when she decided to cut the feet off her control top pantyhose. Voila! The roots of SPANX by Sara Blakely, a shop for slimming intimates, body shapers, and the latest innovations in shapewear for both men and women.

Another success story is of digital fitness app FitOn CEO and founder Lindsay Cook, who, while working as a busy vice president, realized the rough chances of her hitting her favorite studio classes. Although online workouts were present, the quality and motivation just seemed lacking. As a result, the app was conceived.

Who Will Use Your Products/Services?

You will need a sizeable customer base if you want your offerings to stand the test of time. Who will benefit from your product? What will make your prospective customers lean to your products instead of your competition? Learn from your competitors’ marketing strategies and channels to inspire your business plan.

Who Is Your Target Audience?

This goes from a broad market to your specific target. Sure, you can offer a product that could capture the interest of a wide audience, but not everyone will be loyal to that.

Some will only be there for their curiosity. To solve that, determine which of your audience will mostly develop a sweet spot for your offer. There are things to consider, like demographics, psychographics, and even the location you’re planning to set up your business.

This will allow you to spend on a narrower market with a high guarantee of patronage than on an indefinite one with a questionable return. Knowing this will enable you to determine your channels to reach them and will guide you on how to appropriately communicate with them. Either way, you can still start broad but make sure to specify your market as you progress.

How Realistic Is The Idea?

Take your time in your baby steps. Even the business realm steers from utopia, so there’s no use trying to go big in an instant if chances ever seem to surface.

Instead of being unprepared and spending so much on a grand launch, study your product.

Investor-seeking entrepreneurs give themselves an edge when they produce a product prototype for potential customers. In the case of a startup business, however, you could try to conduct a focus group to gather feedback on your products before letting it out into the open market.

Knowing the adjustments you still have to make will help you further improve your product after making your own simulation of a launch.

You’ll Be Afraid, So You Have To Do It Afraid.

Even the biggest, greatest business ideas go futile when the minds they originated from failure to follow through on them. Take your time in assessing your plan for weaknesses. It will not be perfect but you can make it just fine.

Once you begin, never settle.

Go over your plans regularly and make sure your business runs in compliance. Maintain your momentum, acknowledge your critical milestones, welcome the challenges along the way, and never stop improving your product or service.

But the most important part of your business journey is not the business plan but you, the businessperson. Most of the passion has to be fueled, not in the idea, but within you.

Shark Tank star Robert Herjavec suggests, “You have to have a senseless belief in your idea and yourself—almost to the point of being delusional.

Remember that everyone has advice, but no one knows what you have to go through to start, grow and scale a business until they live it. Talk is cheap, but action speaks volumes.”

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The latest weekly indicators indicate a significant decline in consumer confidence due to mounting debt



Weekly Indicators: Consumer Confidence Drops Sharply As Debt …


Welcome to our analysis of this week’s economic indicators! In today’s blog post, we will focus on the sharp decline in consumer confidence and its impact on the economy. Also, we will explore growing concerns about increasing levels of consumer debt. We will dive into ten different aspects that provide a detailed view of the current market scenario and its potential consequences.

Consumer Confidence: A Decline Worth noting

In recent weeks, consumer confidence levels have seen a sharp drop across various regions. This decline is intrinsically linked with the overall health of the economy, as it reflects how optimistic consumers are about their household financial situation and the job market. When consumer confidence is low, spending decreases, investments falter, and ultimately economic growth slows down. It is essential to understand what factors contributed to the drop in consumer confidence recently. Some causes include inflationary pressures, global economic uncertainties, and fluctuations in financial markets. These challenges can lead to a decrease in disposable income, rising unemployment, and increased anxiety over future prospects. To illustrate the significance of the drop in consumer confidence, consider: – A nation grappling with high inflation rates and stagnant wages inevitably experiences a decrease in consumer confidence, resulting in lowered spending habits. –

  • Higher prices for everyday goods and services

  • Wage growth not keeping pace with inflation

  • Limited disposable income

  • Growing consumer pessimism

  • Reduced consumer spending on non-essential items

  • Lower demand for products and services impacting businesses

Debt Concerns: A Growing Menace

Simultaneously, there has been growing concern about the increase in consumer debt levels. High debt can negatively impact the economy by making it difficult for borrowers to manage their financial obligations and affecting the stability of the financial system. It can also lead to a vicious cycle, with debt-laden individuals finding it harder to access credit or save for the future. Higher debt levels result from various factors such as the ease of obtaining credit, low-interest rates, rising cost of living, and slow wage growth. When consumers are unable to keep up with their debt payments, default rates increase, which affects the lending institutions and can potentially send ripples throughout broader economic sectors. Imagine a scenario where consumers take on substantial debt over time, fueled by easy credit access: –

  • Shopping sprees financed through high-interest personal loans

  • Frequent use of credit cards without timely repayments

  • Struggling with multiple loans and debts repayments

  • Increased default risk on loans

  • Lenders becoming cautious around loan approvals

  • Credit score decline impacting future borrowing prospects

Summary Table

Indicator Trend Impact
Consumer Confidence Declining Decreased spending, slowed economic growth
Debt Concerns Rising Financial instability, higher defaults, restricted credit access

As we continue to monitor weekly indicators, it’s essential to assess both consumer confidence and consumer debt levels. Understanding their causes and potential consequences can help formulate policy decisions aimed at mitigating their impact on the economy. An astute evaluation is vital to ensure steady economic growth and prevent unwanted setbacks or crises in the future.

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Keeping End-of-Year Finances in Check



Sometimes, the holiday season is not full of wonder and merriment. The gift-giving culture associated with the holidays can be a source of stress and frustration, especially with the ongoing pandemic, economic downfall. Here is how you can keep your finances in check to cap off 2020 by being financially aware.

Holiday Questions

It is no secret that the ongoing pandemic has affected the economic lives of people. While the holiday season promises a short relief from the doom and gloom of the pandemic, more and more individuals are located on opposite sides of the spectrum when handling finances during the holidays. Others want to go all out to celebrate the hardships that 2020 brought, while others are more practical and tend to be more frugal in their holiday spending.

Here are some of the frequently asked questions about how to manage money during the end-of-year season to have a balance between sharing your love and care to the people you love while not breaking the bank.

How Do I Keep from Overspending during the Holidays?

Give the gift of your time and talents.

Gifts come in many shapes and forms, and while the gift-giving culture primarily revolves around how much money you have spent on a gift… Gifts can also come in the form of time and talents! For example, if one of your friends desperately need time for self-care activities or a date with her husband, you can volunteer to babysit their kids in one evening! If you know your friend is getting married and you have an amazing voice, you can ease up their burden of looking for a wedding band and volunteer to become a wedding singer free of charge!

Make your wish list before going shopping online.

While shopping online is becoming more efficient, it can be distracting to put more in your cart than earlier anticipated. One way to not spend more on your holiday gift list is to make a wish list first and, most importantly, stick to it!

Spend within your means.

Yes, with the pandemic, money may be tight, and it is more practical to let go of luxury items (because who needs a $5000 designer bag if you are not a Kardashian, right?) and make do with practical and useful gift items.

I Will Be Using My Credit Cards for All My Holiday Shopping. What Are Your Thoughts on Best Practices?  

With cashless payments slowly becoming a trend, more and more people are attracted to pay using credit cards. Credit cards are a great way to pay for bulk holiday items because most credit card holders provide a generous cash-back system that can pay you back from 1% to 5% of your purchase fees. You have to look out for sure that your chosen credit card has no annual fees, which means you will not pay any interest in your purchases. Another word of caution is to again spend within your means so that your credit card debt will not be carried out through the spring season.

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Airbnb Bounces Back amidst Covid-19 Pandemic



It comes as no secret that the Covid-19 pandemic has severely affected the tourism industry, including the hotel and accommodation sector. Despite the initial setback, Airbnb’s are slowly starting to rise with the trendy Airbnb nomadic culture work from home individuals are starting.

Airbnb Nomads

When the Covid-19 pandemic started, the first industry to take the brink of the economic downfall was the tourism industry. With flight and movement restricted by lockdown protocols, fewer people are checking into hotels and booking at Airbnbs. While the industry initially felt the effects of the lockdown protocols, they are slowly bouncing back with the Airbnb nomad trend.

So what exactly is the Airbnb nomad trend? Because more and more companies are encouraging people to work from home to control the spread of the virus, people are ditching their apartments and are starting to hop from one Airbnb to another as an opportunity to explore the world (within the confines of their Airbnb) while they are working from home.

Working in Style

Take, for example, Tess Pawlisch, who has been working in San Francisco for four years. She can only take a few vacation leaves amidst her busy schedule in her previous office work set-up with her demanding job. However, now that she is working from home, she can balance working from her Airbnb even when she is on a sunny beach in Mexico sipping tropical-flavored shakes. Pawlisch is only of the many individuals who decided to seize the opportunity to “travel” while working from home.

Bouncing Back

With the initial setback to minimal to zero bookings for Airbnb during the early half of the year, this trend comes at a perfect time for the accommodation giant as Airbnb sales skyrocketed to twice their original sales start of the year. Airbnb’s market value is almost at par with another booking giant,, with the Bnb having $83.2 billion and booking having $85.6 billion. Airbnb has been doing so well in the past few months in terms of shares and stocks that they even surpassed Marriott hotel, which has a projected $41.7 billion valuation.

Exciting Opportunities Await

The work from home set-up is advantageous for people who are bitten by the wanderlust bug, but it is also advantageous for individuals with families or those who want to be nearer their families during these trying times. For example, Trey Ditto was working in Brooklyn, New York, because of his job. Because his company encouraged him to work from home, he decided to move in with his wife (who was also working from home) and their 2-year-old son when they found a bigger apartment near the upstate portion of New York City for about two months. When they realized this would be the new normal soon, they moved to another Airbnb in Texas to be closer to their families—an opportunity that would not have been available if they were back in the office.

Pain Points

However, hopping from one Airbnb to another is not all luxury and glamor. First, the stress of hauling all your things to settle for a month and then moving to another house the next. It can be extremely exhausting. Second, there will always be the element of surprise. For example, even if the unit’s photos are very enticing (it’s called marketing for a reason), the actual unit may be smaller or more run-down than earlier anticipated and can be quite stressful for picky individuals. Lastly, since the Wi-Fi connection is essential for work from home individuals, not all Airbnb units have the best Wi-Fi access to work with. In fact, the Wi-Fi connection is the number one complaint of individuals who are slowly adapting to this lifestyle.

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