Need help with starting a Technology Innovation business

Discussion in 'Starting a Business' started by livayahurd, Nov 3, 2013.

  1. livayahurd

    livayahurd
    uix_expand uix_collapse
    Member

    Joined:
    Jul 5, 2009
    Messages:
    40
    Likes Received:
    0
    Hi,

    My last post was in 2011. Hope some remember me. I had a good time since I joined BAF and with your help I had good business coming in.
    I didn't post since then... was busy with my Job and business...

    Now Me and my partners are planning to start something like Squid Labs (www.squid-labs.com). Squid labs is a Technology Innovation and Engineering Company. Actually that was our intention from the beginning.
    But then had no sufficient resources.

    Now we have resources , Team and Time. But don't know where and how to begin.
    We do not intend to become a manufacturing company... Not now.. may be in future.

    Please guide us...
     
  2. Webestrian

    Webestrian
    uix_expand uix_collapse
    Member

    Joined:
    Nov 19, 2008
    Messages:
    119
    Likes Received:
    8
    In starting any business, planning is the most important phase in my opinion and is mostly ignored by people. You should draft a feasibility plan for your business model too, including all costs involved and expected revenues .
    1. Be Clear what you want to do
    2. Write your business plan, and line of action. Getting everything written is very important, you'd be having thousands of vague ideas in your mind. Jot them down and analyse them one by one. Categorize them, then make feasibility for 3-4 different plans you have shortlisted.
    3. Once you have finalized, prepare a checklist with timeline and responsibilities and put that plan into action.
    Also, elaborate further here, so that we may discuss precisely.
     
    • Like Like x 2
  3. Fergal

    Fergal
    uix_expand uix_collapse
    Premium Member
    Premium Member

    Joined:
    Nov 18, 2007
    Messages:
    10,575
    Likes Received:
    1,165
    I agree with Webestrian and feel that you would benefit from spending some time planning. You would probably find it helpful to have a look at the links in the business plan templates section of our Useful Business Resources / Links thread. If you do decide to write a business plan I'd suggest that you write it for yourself and your partners, keep it as realistic as possible and don't try to write it to impress anyone else. Even spending a little time on this process, with pen and paper, could be very helpful for clarifying your aims for the business and how you are going to move it forward.
     
    • Like Like x 1
  4. Mark T

    Mark T
    uix_expand uix_collapse
    Active Member

    Joined:
    Dec 28, 2011
    Messages:
    1,201
    Likes Received:
    230
    Additionally, writing your business plan means setting your business / company goals. Be able to list short, mid and long term goals realistically and always have a back up plan, a.k.a; contingency plan for your business.

    Regards,
    Mark
     
  5. Bradi

    Bradi
    uix_expand uix_collapse
    New Member

    Joined:
    Oct 27, 2013
    Messages:
    8
    Likes Received:
    3
    Hi,
    Before I became self employed I was working for a hi-tech company providing manufacturing process design for very big!!! OEMs.

    Engineering is a vast term encompassing almost any design in any area.

    The magic word in thinking how to begin is FOCUS.
    Ask yourself what are you major professional advantages.
    Allocate the potential market: SMBs, supply-chains for OEMs, prototyping (for inventors), consulting...
    As a side branch, see if you can provide smart heads for manufacturers. It usually brings money in, with minimal expenses. Good for cash-flow.
    I am currently providing a Korean PhD mathematician and statistician scientist to a company called OTOSHIKI. Frankly , hardly know what he is doing there, but they are very happy with his work. He moved from Seoul to Singapore and they paid for his relocation.
     
  6. bethw

    bethw
    uix_expand uix_collapse
    Member

    Joined:
    Feb 2, 2013
    Messages:
    56
    Likes Received:
    5
    Clear your thoughts and know what you want. Clear vision, hard work and persistence will help you reach your goal. Every business takes time to build to the point where your business ideas are starting to make a profit. You need to find a market opportunity that can support your business.
     

Share This Page