How To Execute Business Idea?

[Rakshit]

I have a new business idea that is already existing and has a huge competition and I don't know much about how to start it as a bigneer.
As I don't have that much approach such as technology money and other basic needs.
So what should be my first step towards it.

for example
If I am making a company like Airbnb but with more efficiency and more better as Airbnb does,
so what should be my ground work or Knowledge about technology in this case?
And what should be my further steps as a bigneer ?

 

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[Muhammad Ibrahim]

need more context.
also, focus on your strengths. find out what you can do but they cant and build on it.
for e.g. i heard this somewhere:
big companies have shareholders to please alongside customers. so they might make some bad decisions due to that. by focusing on complete customer satisfaction your are undercutting the bigger competitor.
find things like that and grow around them

 

[Ties.]

big companies have shareholders to please alongside customers. so they might make some bad decisions due to that. by focusing on complete customer satisfaction your are undercutting the bigger competitor.

Really interesting thought. Do you remember where you heard it or from who?

 

[SalesGod]

I have a new business idea that is already existing and has a huge competition and I don't know much about how to start it as a bigneer.
As I don't have that much approach such as technology money and other basic needs.
So what should be my first step towards it.

for example
If I am making a company like Airbnb but with more efficiency and more better as Airbnb does,
so what should be my ground work or Knowledge about technology in this case?
And what should be my further steps as a bigneer ?

If you are competing with a status quo solution like Airbnb there has to be a huge value skew or else why would anyone use it.

Get clear on what that is, what problem you solve that Airbnb can't and what the outcome of solving that is for your customers. If there is a legit market for it and you can sell to people that you are the person to solve it you should not have trouble getting money to execute. Then its a matter of putting the work, resources and people in place to acquire your first customer.

 

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[GoldenGlow]

need more context.
also, focus on your strengths. find out what you can do but they cant and build on it.
for e.g. i heard this somewhere:
big companies have shareholders to please alongside customers. so they might make some bad decisions due to that. by focusing on complete customer satisfaction your are undercutting the bigger competitor.
find things like that and grow around them

That sounds like the concept of ethical fading Simon Sinek mentioned in his book The Infinite Game.