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Tips on how to move past the idea phase of creating a new business

Tim Spence, CEO of Fifth Third Bank, offers advice on how to move from the idea stage to taking the first step on the road to a new business reality.

Tim himself has experienced the idea phase and compared it to having writer’s block. In his experience, you learn much more once you’re in the market then you ever would while standing at the dry erase board.

The faster you can get feedback from real customers, the faster you’ll learn, he said. He also strongly advised reaching out to mentors and people who have been in your shoes before. These people can often offer advice, solutions, and inspiration.

For more information, watch the video above. You can find more information about Fifth Third Bank here.

This information is presented by Tim Spence.

This content is made possible by Indiana Economic Development Corporation.