Worcester Business Journal

www.wbjournal.com June 22, 2015 • Worcester Business Journal 23 A t one time or another in your career, you may have dreamed of a better way — a new way, even — to bring a service or product to the marketplace. If you're repeatedly lying awake at 2 a.m. imagining what your business would look like and how it would function, then congrats! Entrepreneurship has begun! But discovering you have a genuine idea is only the beginning. For many, the most daunting part is how to go about turning that vision into reality. Here are 10 tips to make it happen: 1. Get your financial ducks in a row. Nothing is more stressful than leaving something for (potentially) nothing. So while you may know your business idea will revolutionize the world, play it safe until the rest of the world learns it. Building a nest of at least six months' worth of income will ensure you can start calm and focused. 2. Check off infrastructure tasks. While you can pay for it, figure out any necessary licensing, incorporation fees, insurance, office space and accounting/legal advice. This will remove some of the burden when you launch. And invest in a quality website that's responsive to mobile technology. 3. Network, network, network. Tell everyone who will listen about your idea. That doesn't mean divulging trade secrets or giving your competition inside information, but rather, building your contact sphere. Who do you admire? Whose advice and judgments do you trust? Who will be honest with you? Find them and build them to help gain customers. 4. Be honest. Have a candid conversation with yourself about your idea's value in the marketplace. Will people really want or need it? Next, make sure it's sustainable, because trends don't last. 5. Clear your calendar of social engagements. Pretend you have a newborn. This new business must be your "baby" — at least for a while. Being realistic about the time commitment could arguably be the most important factor in turning a vision into reality. 6. Write a business plan. This might be very tedious, but without it, the best idea can get off track. Include capital you may want to attract. 7. Do your research. Thoughtful market research will help open your eyes to seeing your product or service objectively, which can help overcome potential obstacles. 8. Learn. Like a sponge, absorb everything possible about competitors and facets of owning a business that are new to you, such as IT or marketing. 9. Set aside an advertising budget. And spend it. Many business owners put more money aside for electronic equipment, fancy computers and décor than they do their first year of marketing. And then they're surprised when they have no customers. 10. Leave your job. Once most of these items are secured, it's time to fly. Dedicating part-time effort to your new business while staying at your current job is safe, but it will not equate to pro-rated results. n Melissa Pride-Fahs is president of Emerge Marketing Inc. and ShopLocalMA.com, in Shrewsbury. By Matt Volpini Matt Volpini is manager of video/multimedia services for New England Business Media, the parent company of the Worcester Business Journal. 10 Things I Know About... Vision to reality in 10 steps KNOW HOW 10. Embed your video on your website. Along with making it easy for your website's visitors to watch your video, embedding it on your site makes it more likely that the site will appear in search results, rather than just the YouTube or Vimeo page it's hosted on. 9. Stick to your brand. Make sure your video matches your company's branding, both visually and stylistically. 8. Don't aim for 'viral.' Viral videos happen almost completely by chance. Don't waste your time trying to create something that will "go viral." 7. Hire professionals. Even though the technology to create your own videos is cheaper, it's very easy to tell the difference between a professional and an amateur video. A poorly made video can do more harm than good. 6. Do your research. Before hiring someone, check out their past work to make sure they're capable of creating what you're looking for. 5. Make a proper investment. Don't try to spend as little as possible. Think of your video as an investment: The more you spend, the more you'll get out of it. 4. Make it personal. Putting yourself or your employees in your video lets your customers get to know you better, creating a deeper connection. 3. Know your message. Before creating your video, pin down the ideas you want it to convey so that when you're creating the video, you can focus on making sure that message comes across. 2. Know your audience. Knowing your audience, whether it be potential customers, business partners or others, will allow you to create content to target them effectively. 1. Tell a story. Telling a compelling story will not only make your video more interesting for your target audience, it will get your message across more effectively and create a deeper relationship with your customers. Promotional videos M anaging millennials — those born between 1980 and 2000, or 1981 to 1999, depending on who's counting — can mean overlooking the sometimes- negative "Gen Y" stereotypes and perhaps modifying your management style to forge better collaborations. Like most employees, when they're managed correctly, millennials can be huge assets to your company. Here are three ways to get your office on the same page with what is sometimes called "the most connected generation." They like teams. It's very different from the "lone ranger" attitude that used to exist. Collaboration is key with this age set. "Millennials actually believe a team can accomplish more and better — they've experienced team success," writes Susan M. Heathfield at HumanResources. About.com. Let them work in groups or teams more, and take advantage of where they're comfortable. Blur the lines. This advice comes from George Bradt of Forbes.com. He says managers can benefit by blurring lines "between you and them, between work and personal, between individual and group, between face- to-face and electronic." Text and chat are like PowerPoint in a darkroom for Baby Boomers, he says. And the line between work and home is blurred as well. For millennials, it's just all part of life. Trendy perks won't cut it. Millennials care less about in-office massages and more about advancement opportunities and a sense of purpose, says Kate Taylor at Entrepreneur.com, quoting Kathryn Minshew, founder and CEO of the career-development platform The Muse. "Minshew says what millennials are really looking for is a chance to grow in the position," she writes. They like to know where they are headed and details of the roadmap on how to get there, she says. n 101: MANAGING MILLENNIALS >> BY SUSAN SHALHOUB Special to the Worcester Business Journal BY MELISSA PRIDE-FAHS Special to the Worcester Business Journal Got a business dream? Don't take your eye off these critical factors

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