I have watched people quit their jobs to start the business of their dreams then never start the business only to go back and work in the cubical farm.
I have watched people who have created their dream business then spend more time playing around and taking pats on the back for a job not yet done than they spend on running the business.
I have watched people in college enroll in their dream degree program, kick ass in the classes but not do what it takes to succeed after college.
To be clear, I absolutely believe in Dream, Declare and Deliver. I have seen it work. The challenge in each of these situations is that the people Dreamed and Declared but left out a step. They became distracted because they didn’t focus on Delivering. Read More
When starting a business really thinking through the process will help you be successful quicker. Planning allows you to better articulate how the business will make a difference and create value for your customers. Once you understand how you bring value to your customers you will then be able to start building out how you will make money from your venture. Understanding your customer and your place in the market is what differentiates a business from a hobby. This allows you to better target your marketing and approach people who want your product. It also ultimately keeps costs under control as you are not guessing and wasting money in marketing to groups that aren’t interested in your product.
This market research takes place during the planning process. Notice I said planning verses writing a business plan. It is a small but powerful distinction. Planning allows you to focus on what will be involved in making your business successful.To many people writing a business plan is more about the format and writing to impress someone. Not being confined by format allows you to be open to possibility and the needs of the market so you can create strategies that will drive execution in your business.
I have identified seven key areas to focus in on when planning the strategy for the start-up and growth of your business.
My 13 year old son had a project due today about 9/11 for his 7th grade social studies class. He was supposed to interview someone about what they remembered from 9/11. As we discussed this I realized that he really has never experienced a world not impacted by 9/11. I got a copy of the New York Times that I bought the day after the attack to show him. While we looked at the images my 7 year-old looked at it and said “What is that?” He had never seen what happened.