The Startup Blog - Week 1...
by Startacus Admin
Lauren is about to start her own business and on a weekly basis is going to share a little of her journey on Startacus...Over to Lauren with week 1's blog post...
Week 1...
Like many entrepreneurs, I always dreamed of starting my own business. A corporate job was a sensible option for me but I longed to escape the meeting room and daily commute for something more exciting. Over the years I have thought about many ideas for a business start-up, and earlier this year I decided to set up my own spa company with a spa product line and day spa operations.
It was several months into researching and writing a business plan when I ended up scrapping my business idea completely. This is where my story takes a turn, and where the beginnings of my start up actually took place. I was at home one day and getting frustrated over a problem that had quietly featured in my life for many years. I wished, just wished, that someone had approached it differently. How much easier that would make things.
That is when it occurred to me. I wasn’t wishing a knight to my rescue. This was a problem I could solve myself. I had a flash of inspiration and I knew what I wanted to do. The spa idea was scrapped, and I began frantically writing down my idea.
I starting looking for competitors, looked at the potential market, and investigated whether other customers faced the same issue I had encountered. The business idea looked viable, and this information formed the basis of my business plan.
Over the next few weeks my business plan took shape as I refined my idea, put together the financials and did further market research. Of course, it was easy to read through my idea and give myself a pat on the back for my inventiveness but I knew that would never swing it in the business world. If this was viable, I had to send this business plan out to people I trusted and people who would challenge me, so that is exactly what I did. I asked those I trusted to give me an honest critique of it. That was a great step. It really pushed my idea and each time my assumptions were challenged it make me work harder to refine my plan and make it more robust.
So what is this grand idea, you ask? Well, I want you to keep reading my diary over the next few weeks so I’m not going to announce it yet. I will save that for a later date. In the meantime, I’m starting work on my prototype and I’m applying for some funding. I’ll talk more about that in my next diary entry. (and if by magic - it appears just here!)
About the author: Lauren is an entrepreneur and author of www.theglitteringeyesbrigade.com – a blog about her journey in starting her own business
If you like what you see here on Startacus, why not become a member of our growing community? It's free! And you'll get all this - exclusive access to our Business Toolkit, discounts and offers galore for your business via our member only business deals, the chance to network and connect with loads of fellow self-starters, and maybe even become our celebrated 'Self-Starter of the Week' and tell the world your startup tale! Join right here for free
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Rent the Backyard will build a studio apartment in your backyard, splitting the rental profits with you 50/50. Intrigued?
Revive was created to bring new life to coffee waste, collecting and recycling used coffee grounds to create a palm oil alternative!
Chilled beers, wines and spirits delivered in one hour, thanks to Edinburgh-based startup Drinkly.
Bubblebum has had its flagship product named as one of the Most Innovative and Most Attractive at the Child Baby & Maternity Expo in China.
Influencer marketing remains largely unchartered territory for many businesses, so here are some tips for getting it right on the first go.
Step forward Raise Accelerator, Northern Ireland's first privately-run startup accelerator. We chatted to three founders from their first cohort.
Rich Maaghul, CEO of ODEM.io explores the future of education and how disruption will transform the way that we learn...
The app that helps you achieve your goal body with easy to follow workouts for the gym or home.
The London based startup that has safer home care provision as its mission
The ethical rewards app Koin Rewards, reimagining loyalty through responsible shopping and tokenisation.
Published on: 3rd June 2013
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- IAG’s Hangar 51 takes flight with latest innovation programme 31st Jul 2019 The latest Hangar 51 innovation programme is on the hunt for tech startups with a broad range of aviation industry solutions.
- 10 FMCG startups selected for first Seedrs accelerator 24th Jul 2019 10 FMCG startups selected for the 1st Seedrs FMCG accelerator, which aims to help FMCG startups raise capital on the platform
- Startup Leadership Program invites applications for its 9th London cohort 12th Jul 2019 The Startup Leadership Program continues to grow, inviting applications for its 9th London cohort to join the six-month program.
- Latest Zinc Company Builder Programme to transform the quality of later life 9th Jul 2019 Do you want to build a new purpose-driven startup with support from a world-class network of experts?
