From Idea to Reality...
Define your Project
- First and foremost, your idea must be one you really want to realize.
- Secondly, it must correspond to something you do well.
- Thirdly, it must answer a need.
It is important to understand the motivation behind the idea, as this will determine the ways in which the project evolves, indicating the ”business concept” and possible partners.
For cultural entrepreneurs, it is often easier to come up with an idea than to implement it. Practical exploration of entrepreneurial opportunities involve all stages of setting up a business, including design and implementation of a business plan.
Put your idea to the test! Talk with your acquaintances, invent a business model, and evaluate the market.
Determine your Business Approach
A business concept is a bridge between an idea and a business plan. Answering the questions as to what? where? how? for whom? with whom? should allow you to build that bridge:
- What are you proposing? and how do you intend to promote it? How is it unique in its genre?
- Where will it take place?
- How will it function?
- For whom – or who is your audience? How do you plan to reach them?
- With whom, i.e. with which partners?
- What steps need to be taken to get there? How much initial funding is required?
Breaking down your project into its different components will help you to evaluate potential challenges and pitfalls. An artistic entrepreneur should be able to clearly describe the essence of the desired artistic/cultural output in two to three sentences.