Now that we have gone from idea, dreams and vision; we now turn to concept. It is my belief that the concept is really communicating your ideas, dreams and vision in a way that people can understand what you are trying to do. It is a summary of what you have been thinking.
If you talk in terms of ideas to people, they will not always understand the potential of an idea or what to do with an idea. People do not always relate well to dreams either. If you sat down with a potential investor and said; " I had a dream last night that will make millions," you may spark some interest with them, but they will want more information. They need information that will allow them to make a decision on whether to invest money in your dreams.
I can argue that a vision is very close to a concept, but let's assume that the vision is not as complete as the concept or that the vision isn't structured as neatly as a concept is. Let's assume that the concept is more of a presentation of your vision. That's think of a vision as something in your mind while the concept is what you put down in writing for others.
There are many things that we can tell you about in the subject of entrepreneurship, but at some point, it all boils down to communicating your ideas. It is a well known fact that many great ideas, visions and concepts never succeed. They don't even get started. Many dreams never come true. So give your concept a chance by learning how to communicate it.
If you check-out venture capital websites (search engine - venture capital), they will often tell you what information they need to review your concept. These are excellent frameworks to study and understand. I know from experience that it is hard to get the attention of people when it comes to concepts or for money to back your ideas.
I believe that so many entrepreneurship teaching approaches spend most of the focus on what it takes as a person, and they miss the important aspects of what it takes to be recognized as an entrepreneur. Recognized means that people need to hear your ideas and understand what your vision and plan is.
The best way to develop your concept is to start with an executive summary. This is a standard document used in business, to present your concept to investors, banks or venture capitalists. This is a way of writing, which is no different then the way you have been taught to write a paragraph or a story. It may not be the most exciting thing to do when you have some time, but over the years it may be the best time you ever spend on yourself and your future.
If you answer the many questions that are expected in an executive summary, you will work out the necessary information to provide someone with a concept. Please realize that this is a very difficult stage of entrepreneurship and one that will stop the dreams of many. It is better to stop at this stage then to lose your money because you didn't think about how you would go about actually doing it. If you can't write it out and communicate it, then you probably can't make it work.
The more you try to develop executive summaries, the greater the chance you will have of succeeding. Just think of it as hitting a baseball with a bat. The first few times you tried, you may have struck-out, but after a number of times (more practice) you hit the ball. The kids that gave up after the first few strike outs, will most likely not be baseball players. The ones who were determined and practiced, became baseball players .Examples of how to succeed in sports also apply to business.
Now you are ready to present your concept with an executive summary.
Step Five: [Executive Summary Standard Framework]
Are you ready for an entrepreneurial venture?
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