A Fantastic Idea Came to Your Mind, and You’re Sure It’s Worth Millions! You don’t want to share it with anyone because you’re afraid someone might “steal” it, yet you’re unsure how to start?Pala vam je fantastična ideja na pamet i sigurni ste da vrijedi milione!

Well, I’ve been in your shoes countless times, with various ideas across different businesses—many of which failed but taught invaluable lessons along the way.

Write It Down

First and foremost, always follow the good old saying: “A wise person writes things down, a fool tries to remember them.” Even though you might think ideas develop in your head, they actually come to life on paper. If you don’t write down what you imagine, you risk forgetting it. And trust me, you will forget—at least some fantastic part of it. You’ll be surprised at the magic that happens when you put pen to paper and start sketching out your envisioned product.

Also, keep a dedicated notebook for your “million-dollar ideas” because once you start writing them down, there will be many. For example, the idea for an innovative real estate advertising platform – Flatoro.com , was sitting in that notebook for six months before my current partner, Todor Pavlović, and I even discussed it. And a year later… well, see for yourself. 🙂

Among those ideas was also our organization, BIOM – Business Improvement Organisation Montenegro, which waited three years for the right conditions to fall into place before launching—right when the pandemic started, on March 24, 2020.

So, just keep writing, because you never know which part of an idea will have its “five minutes of fame” and when.

Validate Your Idea

Before you start developing your idea and investing in it, make sure it’s “The One.” Remember, sometimes our ideas sound fantastic in our heads, but in reality, they have no practical application. You’d want to discover that sooner rather than later—before spending money, time, energy, and enthusiasm. Sometimes, excitement and emotional attachment to an idea make us blind to reality, and that’s not good. Stick to the ground.

You can read more about ideas on our IG profilu.
Research the current market—look at similar products or services around you. How do they look in your country? How do they look globally? What do they cost? How are they produced? What are the production costs? Who are the potential customers, and what is their purchasing power? How big is the market? What is the current demand? How developed is the competition,… Don’t let this overwhelm you! Most of the answers can be found by asking the right questions on Google and talking to your friends.
I da, naučite da postavljate dobra pitanja i radite to često, jer „Ko pita, ne skita“. Za savjet uvijek možete pitati i nas, na bilo kojoj drušvenoj mreži, samo ukucajte BIOM.

That covers the market and environment—now, check how your idea fits into it.Does it solve a concrete problem? Does it provide an existing product/service in a more innovative, better, or more cost-effective way? Is your product/service popular worldwide but just emerging in your country? Is there an actual need for this product, or does it solve a problem that doesn’t exist in real life?

Analyze it from all angles, and then ask yourself:

Do I truly believe this product/service can be the best in its category?
Will I enjoy leading, developing, and selling this product/service?
Does this product/service align with my life, moral, and ethical values?

Because in the end, an idea has no value—only the product you bring to market does. To turn it into a successful business that generates revenue for you and your team, you need years of dedication, perseverance, patience, and daily work. That won’t be possible if you don’t enjoy what you do.

Start from the End

Alright, we’ve tested the idea from all angles, and it still stands strong. You still believe it’s “The One” and that now is the right time to bring it to life. The market and potential customers are practically begging for it. 🙂

Then don’t hesitate for another second—time is money. Just do it!

There are many ways to go from idea to execution, but always remember: you only need to know your next step and take action. Complete it, discover the next step, complete it, then move to the next… Before you know it, your product is there. Just don’t stop!

Some of the ways have been nicely broken down by our colleague on IG profilu.

Go back to your notebook and, starting from the final product/service, work backward. Ask yourself:
“To get this, what do I need to have/do/make/obtain?”

Write down everything that comes to mind as necessary for execution. Then, for each of those things, write down how to achieve them… and keep going until you reach your starting point. Now, you already have a rough plan—you know what to do and how to get there. Choose a priority, get started, and finish it. Then move to the next step, and the next. Simple, right? JUST DO IT!

„Progress over perfection“

You have to start somewhere, and that beginning will never be perfect—nor does it need to be. Waiting for perfection before you begin will drain your motivation and desire, and after too much waiting, you’ll do what’s forbidden in entrepreneurship—you’ll quit. Start, take action, and aim to improve every day.

Learn, analyze yourself first, and invest in personal growth. Always follow Socrates’ wise saying:
“I know that I know nothing.”

Repeat it to yourself constantly. Because you are the biggest limiting factor in your business growth. Your ability (and speed) to develop knowledge and skills in key areas of business determines everything. These key areas include: Time management (personal organization), Financial management, Marketing, Sales, Leadership and team management, Establishing business systems and procedures. There’s so much to learn that it’s your obligation to learn and improve every single day so that your business grows along with your knowledge and skills.

Always ask yourself: “If every employee in this company were like me, would this business thrive?” If the answer isn’t favorable, you know what to do. Be the change you want to see in others. Be the leader who inspires team members to work on themselves in all aspects—and you’ll be amazed at how fast your business grows.

Our mission is to boost entrepreneurship in Montenegro, so follow us and feel free to contact our organization or me personally at the links below:

BIOM Linktree:    https://linktr.ee/BIOMNE

Yours Stefan Stešević

LinkedIn: https://www.linkedin.com/in/stefanstesevic/

Instagram: https://www.instagram.com/velika_je_velika/