The first step of launching a business is the idea. It's that "Ah Ha" moment where the idea hits you. That is also the easiest part of starting a business (the next easiest part is filing the paperwork). Think about it, how many business ideas have you had in your life? How many of you had the idea for the iPod or Google first. You could be on the richest people in the world list if you just hadn't had to stop at the dry cleaners and forgot the idea. What separates you from Larry and Sergey is that they took action on their idea and created a little business known as Google.
It's all about the business. Who is out there to buy your product? Do they want you your product? How will you get them to buy your product? Will they buy it at your price and the list goes on.
Here is a quick five step guide to help you get on your way (See how they all start with P? I planned that.)
Perceive ~ The “Ah-Ha Moment”
Pleat & Prove ~ Research and prove the business will work and people will buy your product (Market Research)
Plan ~ Create your plan of action (Business Planning)
Process ~ Start to make things happen (Filing)
Proceed ~ DO IT!!!
Do you need to do all of this? No. However, by preparing you actually move faster once you launch because you have thought through the strategy and potential pitfalls. It will also save you money because you will avoid many potentially expense mistakes and re-starts (not an issue if you have unlimited money). This will also allow you to better react to unforeseen issues because you understand your market and customers.
Being mindful and prepared will allow you to take that dime a dozen idea and build a super hot business.