| Topic : The Business Plan - Finding and Evaluating an Idea |
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Activity:
5 comments
399 views
last activity : 07 06 2010 20:18:04 +0000
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So you have seen a great opportunity and are about to get started. Where do you go from here? Before you dig in, I cannot stress enough the importance of a well laid out business plan. You might then be asking, how do I plan and set goals if I don’t have a clue what I’m going to achieve and in what timeframe? This may be true, but your business must have a foundation on which to start from. You are going to start your home business because you see the potential of this opportunity. Now, to realize this potential, you should plan on how you are going to turn this into success.
Get your diary and write down your goals, how you are going to achieve them and in what timeframes. Be realistic with your timeframes. Nothing when starting out in business will happen overnight but I guarantee that the businesses that started out with a plan achieved their goals quicker than the others. Being distracted from your initial business goals is so very common in today’s business world especially on the internet. It is very common for an entrepreneur to start a business and then see other areas where the business can grow.
A common theme is an entrepreneur starting out maybe with his/her own product website on the internet. He/She achieves a little bit of success, see's another avenue where the business might grow and dives in without thinking. It might work, but the odds are against it. In the meantime his initial planned strategy is being totally neglected of resources and time. Multiply this scenario by 3 or 4 and you've got a problem. You will end up dabbling in different areas and not totally concentrating on one.
This goes back to my earlier point, it will not happen overnight. You have to give your business time. You will probably work the hardest and be the most frustrated for the first 8-12 months. If you can focus on the business plan goals for this time period, your odds for making it are much higher. Try to ignore the other opportunities for the time being, at least until you get your business off the ground. When you get to that stage, then the fun starts and then you can try other things knowing that you have built a solid business which will be there to protect you if your other ideas don’t work out.
By, Sadasivuni Ganesh,
Marketing Manager,
Zodiac Marketing Consultancy.
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Dear Mr Ganesh, i agree to ur point completely......well i would like to introduce myself to u .......i m Akash Dhupar completed my MBA from NMIMS and currently doing Management program from IIM Banglore..well i went thru ur article.....it was really nice to gain some knowledge from it..........i would like to see some more articles and ur share of experience in the industry..........it would be of great knowledge to u .......... thank you