Saahil Peerzaada - Turning good ideas into successful brands
Thomas Edison once said “Genius is one percent inspiration and 99 percent perspiration.” As an entrepreneur, it can take a long time, and a lot of perseverance, to see your bright idea turn into a successful business.”
by John Maguire Tuesday, July 15, 2014
For most entrepreneurs, it is not too difficult to brainstorm and emerge with a range of ideas for new businesses. However, it surely is hard to actually put into practice those concepts. Converting an idea into a business concept requires thinking about how the product or service will be sold and who will buy it, the benefits of the product or service, how it is differentiated from similar ones, and methods of delivery.
This requires, amongst other things, lateral thinking - solving problems through an indirect and creative approach. It also demands open-minded thinking where everything is possible, and you are not restricted by realities. Resilience is yet another attribute. All entrepreneurs have failures and successes. Your ability to learn from mistakes and move on is key to the success of your business.
Saahil Peerzaada has always been known to keep it simple. To realise his ideas, he prepared concept statements in black and white, helping him discover significant components of a project. He followed it up with intelligent research into crucial dynamics that warranted thorough attention in a business plan. As his idea took shape as a concept statement, he was in a position to evaluate the business more effectively for potential challenges and pitfalls.
His clear business concept enabled him to concisely illustrate the specific nature of the business to suppliers, customers, lenders, and resource team members. For example, he never said ‘I want to enter into the business of making investments into companies’. It was too vague and conveyed very little. Instead, he said ‘I plan to start an investment company that made informed and smart investments into the Oil and Gas field. I want to offer strategic planning and consulting services to large-scale companies, provide assessment to help clients improve efficiency and institute processes for innovation and change.’ Now this makes more sense.
Importantly, Saahil Peerzaada didn’t wait to have everything figured out before launching into his business. In fact, it's impossible to even know all of the questions you should be asking prior to launch. He gave himself the permission to experiment with the core concept while transparently asking for input during his alpha and beta phase. After all, it is far better to launch with 80 percent of an idea developed than it is to sit on 95 percent and never launch.
A lot of great business ideas never make it beyond the idea stage. There is a lack of clear-cut understanding of the end goal. Many end up taking their ideas to the grave.
Today, Saahil Peerzaada is seen as an inspiration to several aspiring entrepreneurs. Although he has already achieved a lot, he still continues to ideate and implement.
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