Author: Colleen DeBaise

Publisher: AmericanManagement Association
ISBN: 978-0-8144-3918-0

Colleen DeBaise, author of Start A Successful Business, has her pen in many inkwells. She is founder of the Hampton Bee, is a podcast host for The Story Exchange and is contributing editor for Inc. (2018, back cover) She has penned one other book – The Wall Street Journal Complete Small Business Guidebook. She has written articles for Entrepreneur, BusinessWeek, SmartMoney, and The Wall Street Journal.

DeBaise says I her opening chapter that “Startup ideas can come from just about anywhere – truly.” (2018, p.3) To that she adds a short list of possibilities to which you can probably add some of your own. Is any one of those a better option than another?

Startup may be the most difficult point to move through in any business model and DeBasie says “If you don’t have that burning, personal desire to see your concept come to fruition, we don’t recommend pursuing your startup idea.” (2018, p.4)  

Niche markets make good points to begin. To find what may be a niche you can look at several possibilities. I.e. your hobbies, whatever you love doing, functions of your current job, childhood dreams or aspirations, or even how you want to be remembered. (paraphrase, pgs.8-9)

Whatever you select you will want to solicit some feedback. DeBaise says to “…build a personal team of advisors”. (2018, p.11) And do not be afraid that any of those people will steal your idea. DeBaise says this about that, “Guess what; ideas, even brilliant ones, are worth very little.” (p.12)

Next you will need to illicit some market information via conducting a bit of market research to determine whether it is even a worthwhile venture to launch your idea. DeBaise suggests on pages 16-17 many avenues to aid you in this quest. You will need a concise description of your idea that allows you to easily share it with other people and get their take on it. You will also want to know as much as possible about your competition. Then you can begin to share how your product or service differs from those already in the marketplace.

Chapter two invites you to create a business plan. DeBaise says this should “…describes your concept, outlines your goals, and maps out strategies you’ll take to turn your idea into a successful company.”. (2018, p.45) Without a business plan you lack direction and structure. DeBaise shows you how to write your business plan in this chapter too. There is a lot of information about the differing business or organizations structures too, i.e. Sub Chapter S, LLC, etc..

This book is seriously jam-packed with critical information for anyone from business novice thru the most experienced business personnel. They are pearls of wisdom. Take what you need and give your dreams a whirl. You never know if your idea may be the latest and greatest!