You Have A Business Idea, Now What?

 

Jay where we answer your questions for

budding entrepreneurs to figure out what

the heck is going on and how do they

start their businesses and be successful

I'm Jay Adelson

I'm the founder and chairman of

revision3 I founded a number of

companies I've been hired as a CEO and

I've even been fired as one for example

Equinix is a company I took public in

2000 and now has a market cap of over

four billion dollars in 2008 I was

incredibly honored to have been selected

as one of Time Magazine's most

influential people in the world

my goal is to pass on some of the snows

to you the budding entrepreneurs and

hopefully leave you with some words of

wisdom this episode of ask Jay is

brought to you by Hostgator today's

question comes from Andrea in New York

City you asked I have an idea now what

well Andrea you know that's the common

entrepreneur issue you're you're in the

shower you're having drinks with friends

and you have some great ideas some

inspiration and you really want to

figure out what to do next well my

advice here is definitely the first

thing you should do is share it share it

with your friends and family don't be

afraid about competition or someone

stealing your idea share the idea talk

about it and you'll find that you get a

lot of benefit the ideal will take shape

you know I did this with Kevin rose all

the time I know with revision3 we

definitely spent a lot of time talking

just about the concept of internet video

well before this was a business and that

act really shaped what would later

become the business plan for revision3

I'll give you some ideas on really what

your first step should be when you have

this idea in just a second but first I

wanted to thank our sponsor looking for

a place to launch a blog or a website

frustrated with customer support at your

current hosting provider go to Hostgator

and get up and running in minutes with

plans starting just at three dollars and

ninety six cents a month you get top

rated 24/7 customer support access to

tools including a website builder with

over 4,000 templates Hostgator will even

migrate your current site for free

servers are a hundred and thirty percent

powered by wind energy it's completely

green web hosting unlimited disk space

unlimited bandwidth a 45 day money-back

guarantee

$100 Google AdWords credit to market

your website right now for revision3

viewers Hostgator is offering 25% off

your order or your first month free go

to wws Gator comm and enter the code Jay

Adelson a checkout to get your discount

today's homework assignment is really

how to you know the steps you need to

take to move this idea to a business to

a business reality what I recommend is

after you've shared this idea with

enough people and you've had enough

feedback and you really feel that it

takes shape the act of writing it down

into what you might call a business plan

and let me be specific about what I mean

by that I'm not talking about writing a

multi-page report with Excel

spreadsheets just a two-page summary of

what this idea is why it's a business

who the market is what the pain points

are that you're solving how it's going

to make money and ultimately you know

how long it's going to take for you to

do things like prototype it and get to

get to your audience or get to your get

to your market go through that exercise

write it down write it again share it

with those same friends get that

feedback and when you're ready that's

the document you're gonna take with you

to go raise some money thank you so much

for spending time with us here at SJ and

remember please send us your questions

at SJ at revision3.com and we'll try and

get to it here on the show you know and

every time you're sitting around you

think you've got a good startup idea

write it down write it on the back your

hand do whatever it takes okay

and I'll see you next week

[Music]

[Music]