Everything is Designed #006

Turning ideas into profitable business

For the past 20 years, I’ve helped people turn their ideas into real businesses, and some of those companies have grown to be leaders around the world. I also run my own design studio, which sits in the realm of 7 figures.

Every week, people ask me how to start a business or turn their idea into a successful app, service, or product. Here’s a simple checklist and the exact steps we use to make it happen:

Validate the idea

- Identify the specific problem your idea solves or the need it fulfills.

- Research your target market to confirm there’s demand for your solution.

- Talk to potential customers (don’t talk to friends, you will get biased feedback) to gather honest feedback about your idea’s appeal and usefulness.

- Assess whether people are willing to pay for a solution

Refine the Concept

- Define what makes your idea unique compared to existing solutions (your competitive advantage).

- Simplify your idea into a clear, concise pitch you can explain in a sentence or two.

- Consider how your idea can be scaled or adapted over time to grow profitability.

- Sketch ideas, keep it rough, keep it direct

Conduct Market Research

- Analyze competitors to understand their strengths, weaknesses, and what you can do better.

- Identify your ideal customer (age, interests, location, spending habits, etc.) and create a buyer persona.

- Explore market trends to ensure your idea aligns with current or emerging demands.

Test feasibility

- Estimate the time, skills, and resources you’ll need to bring the idea to life.

- Determine if you have the expertise or need to learn new skills or hire help.

- Check for legal requirements (permits, licenses, trademarks) that might apply to your idea.

Write a business plan

- Write a mission statement explaining your business’s purpose and goals.

- Outline your product or service in detail, including features and benefits.

- Define your target market and how you’ll reach them.

- Create a basic marketing strategy (social media, word of mouth, advertising, etc.).

- Set short-term and long-term goals for growth and profitability.

Develop Financial Plan

- Calculate startup costs (equipment, supplies, marketing, etc.).

- Estimate ongoing expenses (rent, materials, subscriptions, etc.).

- Project revenue by determining pricing and how many customers you’ll need to break even.

- Plan for profitability by ensuring revenue will exceed expenses over time.

- Decide how you’ll fund the business (savings, loans, investors, crowdfunding).

Create a Minimum Viable Product (MVP)

- Build a basic version of your product or service to test with real users.

- Focus on core features that solve the problem without overcomplicating it.

- Use low-cost methods (e.g., handmade prototypes, simple websites) to keep initial investment minimal.

Test the MVP

- Share your MVP with a small group of potential customers.

- Collect feedback on what works, what doesn’t, and what could be improved.

- Adjust your product or service based on this input to better meet customer needs.

Establish a Brand

- Choose a memorable business name that reflects your idea and values.

- Design a simple logo or visual identity to make your business recognizable.

- Develop a consistent message or “voice” for how you’ll communicate with customers.

Set Up Operations

- Register your business legally (e.g., sole proprietorship, LLC) with your local government.

- Open a business bank account to keep finances separate from personal funds. If you are in the United States I suggest mercury.com

- Secure any necessary tools, equipment, or workspace to produce your product or service.

- Create a basic system for managing orders, customer inquiries, and payments.

Launch the Business

- Announce your business to your network (friends, family, social media) to generate initial interest.

- Start selling your MVP to early customers and fulfill orders promptly.

- Offer promotions or discounts to attract your first buyers and build momentum.

- Build early adopters programs and onboard each person individually

Market and Sell

- Use free or low-cost marketing channels (social media, email, local events) to reach your audience.

- Ask early customers for testimonials or reviews to build trust with new buyers.

- Experiment with different sales tactics (online store, in-person, subscriptions) to see what works best.

Adjust and Pivot

- Track sales, expenses, and customer feedback to measure progress.

- Identify what’s driving profit and what’s costing too much, then adjust accordingly.

- Be ready to pivot (change direction) if the original plan isn’t working as expected.

Scale

- Reinvest early profits into improving your product, marketing, or operations.

- Expand your customer base by targeting new markets or adding complementary products/services.

- Hire help or automate tasks to increase efficiency as demand grows.

Stay Committed

- Set aside regular time to work on your business, even if it starts as a side hustle.

- Stay motivated by celebrating small wins (first sale, positive feedback).

- Keep learning from customers, competitors, and your own experiences to improve.

This checklist covers the essentials, but every business is unique—some steps may take longer or need tweaking based on your specific idea. Start small, stay flexible, and focus on solving a real problem for your customers. With persistence, your idea can grow into a profitable venture. Please remember to give it time, be kind to yourself, and realize that success takes time.