The Business Process for your Billion Dollar Idea

All businesses that are start ups want to excel and make fast profits, however the secret formula to success remain a secret to most people. This article should help you understand the business process for your business idea and give you an insight into what exactly it takes to get your business going. Your billion dollar ideas are of little use unless they follow an appropriate business execution plan and as an entrepreneur you are sure to know the importance of planning. Keep this guide handy to help you put on paper and practice a fool proof business process.

How to start the business process for your billion dollar idea?

First and foremost you need to understand the nature and focus points of your business – you need to define for yourself and your business your product/service and its target consumer. Once this is done you need to find the right investor to get your billion dollar idea going. Here are a few other essential steps to put your business process in place:

• Identify the niche of your product/service
• Put an organizational structure in place
• Chart what is required to get your billion dollar business going
• Identify, approach and finalize your business investors and private investors
• Delegate responsibility to the personnel identified by you
• Create a brand identity
• Break down the business process into tiny units of activities
• Allocate funds per activity and assign an accounting wing to keep a track of the same
• Ensure your business process is in line with existing business or government policies
• Put your management, operational and supporting processes in place
• Establish a process chain or a chain of activities that work towards the end goal
• Allocate advertising funds
• Take your business to various platforms that are both physical and virtual
• Market your business
• Establish a sales link and maintain its efficiency
• Follow up on the sales data
• Establish a customer service and escalation process team
• Improve efficiency based on feedback
• Automate the business process
• Outsource processes that require skilled assistance
• Generate an evaluation of performance
• Appraise the business and audit the process
• Improvise and establish corrective measures based on feedback
• Maintain momentum of the business

Once this process is in place, the last part of maintaining momentum and altering the business process for your billion dollar idea will come naturally to you and you can see profits. One can make a billion dollars by simply working smart, however getting to be a smart business owner requires tact, research, a keen eye on the market and a firm commitment to deliver the promise of your product/service to your consumer. The priorities of a business can predict quite a bit about how the business is going to shape itself in the future. Once a business owner manages to get his/her priorities right, making a billion dollars is all in a day’s work.