How to launch a business idea in 7 days

It’s easy to focus on implementing wrong ideas if you have no way of knowing how to detect them

The problem with most businesses isn’t a lack of ideas but the choices their owners make. Many entrepreneurs do not think it through before committing to a business idea. The fact that something looks promising doesn’t mean it’s going to work out well.

When Microsoft completed the acquisition of Nokia in 2014, it echoed the competitive nature of the business market. During his last press conference as the Nokia CEO, Stephen Elop ended his emotional speech by saying, “We didn’t do anything wrong, but somehow, we lost.” Nokia lost because they were too slow in adapting to the sudden change in the availability of smartphones. While other Android companies produced good phones at a low price, Nokia failed to lessen their prices without creating anything special in their phones. As seen with the example above, it’s easy to lose relevance if you don’t implement the right ideas.

Wrong goals won’t make a business successful no matter how well you execute them. To identify promising projects, pay attention to their prospects and long-term sustainability. Will the business turn in enough profit for you if you keep at it? And for how long will people need your services?

You’ll find out more about how to identify a good idea and how to sustain it. You’ll also find the importance of the 7-day startup plan proposed by Dan Norris.

Sustaining a business is the most challenging part of establishing a startup

When Dan Norris wanted to start a business, he decided to try an innovative idea. One fateful day he came across a library publication called the Ultimate HR Manual. The manual contained all the secrets for managing human resources, and it detailed how to build a team and train others. After discovering the HR manual, it dawned on him to create a website where business owners could access all the events and processes required for best practicing HR. The website would include the positions, descriptions, employee surveys, HR Audits, and training programs needed to be a successful HR.

Over the next few months, he mapped out the idea and planned what to include, how to deliver the documents to the people, charge for his services, and employ writers. Although his idea was organized and thorough, his business failed to launch. Dan Norris had high hopes of earning a great fortune, but this wasn’t the case. In his mind, he had created a beautiful business plan after spending hours in the library, engaged in research. But launching a business wasn’t part of his startup plan.

Once you commit to launching in 7 days, you’ll change your thinking on exactly what to launch. The first day should be used to select the idea you want, while the second day should be used to work toward achieving the chosen plan on the 7th day.

The problem with failing to launch happens because we don’t know the difference between a business and a startup. It’s not difficult to start a business, but it’s not easy to establish a startup. A startup founder is an entrepreneur whose job is to sell you the franchise. They have created something from scratch, in extreme uncertainty, with a high potential reward. Dan Norris’ failure made him highlight his mistakes.

For a business to succeed, it has to have a long-term plan. It is also important not to dwell on your shortcomings, and you must avoid unnecessary assumptions. It’s easy to get distracted by the small stuff around you, therefore, you need to always stay focused.

Your idea is important as long as you dedicate an adequate amount of time to it

A business is anything that establishes a wage for its founder. Going by this definition, buying a garden treatment franchise, or opening a store down the street is a business. However, neither is a startup. A startup is a bit more exciting than a business because it has high impact potential. There are also high levels of innovation and uncertainty.

A local business can’t be a startup if there are no ambitions to take it to the rest of the world. A business restricted by business rules can’t be a startup. A startup requires a huge risk that leads to some decisions that either make you or break you. This doesn’t mean that you have to risk all you have to create a startup. If you lack innovation to start, then it’s not a startup. A lack of innovation and creativity is the reason most startups do not have a technical focus. With high impact potential and high levels of innovation, a startup can change the world.

Pick a name for your business on the third day. The name must be catchy and unique to make your business look classy. Then, create a landing page with target questions that help you collect the required information so you can identify your customers’ needs on the fourth day.

Once you have an idea that has some merit, it needs to be executed well. Startups are all about getting something to market quickly. However, that doesn’t negate the fact that you need an ongoing process to execute your idea continually.

It would help if you didn’t bother complaining about being self-funded and not having enough capital or resources to remain in the game. The truth is that customers don’t care where or when you have resources. They make comparisons and choose without sentiments. A startup is primarily about spending your time on the most likely things to bring customers to you.

To avoid losses, do not get tempted by a few short-term profits

It’s easy to get tempted by the prospect of getting heavily funded to build a project. However, your chances of bouncing back from failure become more difficult if you find yourself in this situation. The idea of being paid money before you start something is appealing, but you have to find your goal first. To test whether you can grow a business, you must begin the process. A few big sales don’t get you any closer to knowing whether you can do that.

The truth is that starting a business isn’t a simple scientific experiment. There are a lot of factors you should consider that influence whether your company will thrive or not. You must first seek the opinion of a few people and make sure they validate your idea. Validation means that your proposed idea will be a good business, but there are also other influencing factors. Luck plays a vital role too. Many people do everything right and still fail to launch or remain competitive.

Timing is even more critical. Your ability to sell your great idea or build a team to execute your idea are essential factors. There’s an overlooked difference between “idea” and “successful business” that validation doesn’t account for. Many ideas that people have are great ideas that already exist. If someone is doing the same thing you are doing and doing it successfully; the idea is as valid as yours. The difference is that you have a business model that suits your own business execution.

You’ll most likely work more efficiently when you are close to a deadline. Before you begin a task, your brain pictures the hardest parts to simulate an important task by focusing on small mindless tasks. In other words, you spend more hours and days fussing over less important tasks instead of selling your product! The moment you start something with a clear deadline, it drives you forward. This is why the 7-day startup plan is important. Entrepreneurs are people who took a small problem, studied it, and worked on it until they found a solution.

Although it’s almost impossible to deliver on your whole startup vision, you can launch something if you are determined

When you launch, you can start connecting with people who are willing to pay for your services. This is the point where you start making smart business decisions and avoid baseless assumptions. Launching fast requires a lot of compromise from you.

Many people who start businesses in the technology field take months or years to plan and execute a startup, only to realize that it wasn’t a good business to start with. But by launching in seven days, you’ll get the required mindset shift that will help you avoid this. In the past, a software app would go into development and get seed funding, which is the first official money that a business venture raises. The founders would assemble a team and work on the product for months before launching. But what happens if the product fails to meet expectations? They come together to figure out why the business failed to launch and try to work out how much of their wasted resources they can salvage.

Market your product on the fifth day and check the response from people. If you get positive feedback, go ahead with your launch. If not, re-strategize. The 7-day startup mindset is the best way to beat all these issues. You shouldn’t waste time building something that people do not want.

There are a lot of things that matter in running a successful business:

  • The idea and execution: you must pay attention to your vision and its execution. Regardless of how good your idea is, it will not make a good business if not executed well. And a bad idea, if executed well, will still not make a good idea.
  • A founder’s ability to get customers (to hustle): no matter how great or well-executed your idea is, without customers, it will fail.
  • Timing: speaking well about an idea and executing it is pointless if the timing is wrong.
  • Luck: it matters because the market is unpredictable, and you have no idea how strong a competitor can be.

Did you know? According to Buffer, a social media brand company, 73% of marketers believe that social media marketing has been “somewhat effective” or “very effective” for their business.

Your idea is important, and it needs careful planning, but you don’t need to stress over it for weeks

You should spend just one day deciding on which idea you want to start up. The beauty of this is that you can always change your idea once you employ this technique. When you spend only one day on your idea, you’ll be more open to changing it if it doesn’t work out.

Now that you are clear on what it takes to launch, you need to know that your job doesn’t stop when you launch. At this point, you have to keep the paying customers, pay attention to whether they are paying, planning to stay, and referring you to other people. And you must listen carefully to what your customers say, as this will help you work out if and how you are going to grow your business. Alongside that, you need to build your business into something fundamentally profitable, or else it will fail to grow.

Having a good idea and paying customers on launch day doesn’t mean you will continue to grow. For you to achieve sustainable growth, you need a self-sufficient business model. A business model is your organization’s plan for making a profit in the long term.

Measure your success during your test run on the sixth day. Consider the future profit and see if it would sustain you.

It’s easy to work out whether your business has a profit margin or at least estimate it early on. The actual, acceptable percentage will depend on many things, but obviously, you have to be making more than it costs you to service each customer.

On the seventh day, launch your business! Build growth elements into the heart of your business and those working for you. In a few years, you will have something valuable instead of a job that only pays you well for a short period.

Conclusion

Launching a business can look easy, and while some people have been able to get it right in their first attempt, it’s difficult for most people. There are many things involved in starting a business. So you must pay attention to your ideas, the execution, marketing, and how you’ll make your profits.

Establishing a startup needs a well-planned business model that will guarantee sustainability for a very long period. It’s not enough to relent because you’re doing well. Other businesses will come, and your competitors will do all they can to make you irrelevant. Whatever idea you plan on executing is most likely going through the minds of hundreds of people too. What differentiates you from the rest is your ability to adapt the 7- Day Startup plan created by Dan Norris.

The seven steps are highlighted below:

  • Pick an idea on the first day.
  • Draw up a plan for achieving your success on the second day. Pick a name for your business on the third day.
  • Make a landing page for your website on the fourth day.
  • Market your product to the people on the fifth day.
  • Measure your success by getting feedback and setting targets on the sixth day.
  • Launch your business on the seventh day.

By employing this business model, you can rest assured of finding a great idea quickly instead of wasting your time executing the wrong ideas. Also, this business method increases your chances of achieving your business goals. Although there might be some obstacles along the way, as long as you remain focused, you have a high chance of creating a successful brand as long as you remain focused.

Try this

Make a list of your business ideas and create a target audience. Collect important data from potential clients through surveys, contests, and physical interactions. This will help you understand what they need and how to serve them better.