We all get those lightbulb moments from time to time. Brilliant ideas that we think could have a real impact and really go somewhere. But as we start thinking more critically, the steps needed to make that idea a reality seem daunting. We find that someone has already brought a similar idea to market, or that there are technical hurdles that we may not have the know-how to overcome. The more we think, the less promising the idea becomes. This paralysis by analysis can stop many of us capitalising on great ideas.

Often, taking the first step is all that's needed as each subsequent step feels a little easier and the realization that the idea could become reality sets in. How can we take that first step with some confidence?

Someone who knows about this from recent personal experience is Hugo Sykes. Hugo was studying towards his Master's degree in Engineering at Oxford when he came up with the Community Call Blocker, an innovative solution to the annoying, and potential dangerous, problem of nuisance callers. His lightbulb moment came after his grandparents almost became the victims of fraud through nuisance phone calls. On this episode of your favourite small business podcast, he's going to share his experience of taking the first steps after having had his initial idea.

Issue Challenged in this Small Business Podcast

When we have a great idea, how do we take the first step towards making it a reality?

About Hugo

Hugo Sykes is the inventor behind the Community Call Blocker which is a revolutionary solution to the problem of nuisance phone calls. Hugo hopes to put an end to nuisance and fraudulent phone calls once and for all.

He came up with the idea while studying towards a Master's degree in Engineering at Oxford University. His grandparents came very close to losing a great deal of money in an intricate phone scam. This lightbulb moment set Hugo on the path of entrepreneurship and his product is the most advanced of its kind on the market. The network approach used by the Community Call Blocker allows people to protect each other.

Here's here with us on this episode to share his experience of proving his concept, securing funding and bringing his product to market.

Actionable Tips

* Do your homework. Know your market and know your customers. Initial research can save time and money further down the line.

* Talk it out with trusted allies. It's easy to get wrapped up in your own enthusiasm so it's important to ask those you trust to challenge your ideas so you can work out if it they’re viable.

* Consider funding options. Don't rush into the first funding option that's presented to you. Always go into investment meetings with choice.

 Top Quotes

* "Your friends and family are the first ports of call when validating an idea."

* "You need to do some level of research. Are there similar products on the market? What do the competitors do differently?"

* "The step between prototype and finished product is where you need to go and find investment."

* "After making the prototype, the technical side of the work is over. It then becomes a case of taking it to experts in the industry, asking for feedback and searching for suitable investment."

* "Some people say you should join a company in the industry in which you want to start your own business, learn all of the information and then start your own company. We didn't do that, we jumped straight in. Our window of opportunity was limited."

* "If someone has a similar idea to you, it just proves that you can make money doing it. Competition can stop us, but it shows that there is a market."

* "You can have the best technology in the world, but if you haven’t got the distribution channels, marketing and financing behind it you aren’t going to...