Make those ideas into the real deal

Turn an idea into a business by analysing where your true entrepreneurial strengths lie, writes Manar Al Hinai.

I established my communications consultancy business some time ago. But deciding that was what I wanted to do required careful analysis. So how did it all start? Well, it was my mentor who pointed out my communications skills. “You’re so good at drafting strategies and planning community events,” he said. “Why don’t you establish your consultancy business?”

We met a while after and he asked me what I really enjoyed doing. I told him I loved what I was doing at that time – planning events, drafting communication strategies and working on media and PR pitches.

He smiled and said if that is what I wanted to pursue, then I should grab a piece of paper, take some time out and jot down what I considered to be my strengths.

I took his advice on board. It was not an easy exercise. I jotted down my strengths, what I enjoyed doing and also what I imagined myself doing in the future. I realised I loved drafting communication and marketing strategies and was passionate about writing. I was doing that for my acquaintances anyway, as I loved to see things grow.

Many aspiring entrepreneurs are faced with this dilemma – they perhaps enjoy an aspect of their working life but do not know how to carry their ideas further. Or perhaps they have entrepreneurial ambitions but cannot pinpoint what they are.

So how do you start thinking about potential business ideas? Simple: the way I did. You need a pen and paper, or a laptop if you enjoy typing like me.

Write down the things you are really good at. It does not matter whether it makes sense or if the items are unrelated to each other. Your list might include phrases such as: “I enjoy cooking”, “I love people and gatherings”, “I love trying new kinds of food”.

Then start another list, highlighting what you do not enjoy: “I do not like eating in overcrowded restaurants”, “I’m not good at making desserts”, “I hate maths”.

Once you are finished, think about what product or service out there is missing. Is there something you would like in your life that does not exist yet? What new business offering would make your life easier?

The most important question you need to ask yourself is why you want to establish a business.

Do not do it because someone told you to. You have to be truly passionate about your idea, otherwise your enterprise will just become another job that you dread going to every morning.

The final step is to analyse your list and look for patterns. Assess whether there is any need to establish a business utilising your strengths. Is what you have to offer missing from the market?

Besides the list, seek inspiration. Inspiration can be found anywhere from reading the latest business news to hearing a complaint from a friend about the lack of a service where they live.

Many entrepreneurs have succeeded by introducing a concept to the UAE that already exists elsewhere.

You can even be inspired by businesses that were established hundreds of years ago by customising it to fit with temporary reality. Or perhaps you have noticed an innovative idea during your travels. In fact, to maintain your originality and stand out from the crowd, customise your business product or service for the community.

Follow the process and you will hopefully discover the business approach you wish to follow. Starting a business is not hard. The UAE is one of the most advanced countries in the world when it comes to launching a new company. But the important thing is to not only have a solid business idea, but a plan in hand and to do it step by step. There is no need to rush. Better to be slow and get things right than to hurry and make a mistake.

Finding out what you want to do is only the first step. The next is research, homework and finding the right location or team members to come on board.

But the important thing is that you do something about it. Make 2015 the year you finally do something about establishing your business.

Manar Al Hinai is an award-winning Emirati writer based in Abu Dhabi. Twitter: @manar_alhinai

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