If you’re actively involved in any economic process which brings in some sort of income, chances are you’ve had a business idea of your own. Whether you’re working an 8-to-4 job (9-to-5 in some parts of the world) or indeed if you’re already running a business on some level, there is probably an idea or two you’ve been sitting on for quite a while now, just waiting for the right opportunity to get it off the ground. The truth is if you keep putting it off however, citing current commitments which are preventing you from launching that new business, you’ll probably never do it. This is especially true if your current commitments are more of a long-term or permanent nature, such as raising kids, work, etc.
If you don’t have the time to work on your business idea with the view of launching it soon, what makes you think some time will magically clear up in the near future? Yes, perhaps a lot of stars need to align in order for you to get anything worth selling going, but you have to start somewhere. Get the ball rolling and strive to construct a skeletal structure which will get the venture off the ground. Any business or any revenue-generating opportunity in this world has a set of features which make up a minimum viable product or minimum viable service. Once this core skeletal structure is set up, your operation on even the smallest of scales could open the door up to a clear path you need to follow and perhaps focus on. You might just uncover a brand new opportunity which could propel your profits into the stratosphere – an opportunity which may not have even been part of your original business plan. Google Inc (now a division of the parent company named Alphabet) for example, started out as the vision of two college boys seeking in effect to download all the contents of the World Wide Web and index them. Google is perhaps now the biggest advertising company in the world and their main source of income was never even considered as part of the original business plan, if there was indeed a business plan to start off with.
So the lesson is to get the ball rolling with a minimum viable product and the skeletal elements which make a business work in the modern day economic climate include:
- A Core Product
- A Content Management System (CMS)
- A Sales Channel (Marketing & Distribution)
- Good Customer Support
In a similar vein to the explored Google example, if you take an online business such as mansioncasino.com into account, to get the ball rolling their core product is the online gaming platform they offer. Their content management system is made up of the information visitors and gamers see when they land on the site, the registration and log-in system, the back-end algorithms which run the games, payouts, jackpots, etc., and pretty much everything which has to do with the creation, storage, procurement and all-round management of information (content). Their sales channel and their customer support structure are embedded in the Content Management System.
In this particular instance, just two or three casino games would be enough to get the business up-and-running and that’s a great example of the minimum viable product we’re talking about. More games could then naturally be added in later, but what should be becoming clear is that all the elements which make up a business don’t need to be perfectly aligned for that business to start operating and making profits.