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Topics & Tips
Business Planning
Starting a New Business: Actualizing Your Vision
So you had that fantastic business idea, the one that's
going to be wildly successful and make you a fortune -
and even better, you actually did something about it and
started your own business. Good for you! Not everyone
gets even that far. Most people sit and day dream about
what they might do if only ....
"The world is full of dreamers, there aren't enough who
will move ahead and begin to take concrete steps to
actualize their vision" - W. Clement Stone
But you got over the biggest hurdle, you took that first
step and you actually created something.
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Well done - you already did more than most. But once
you've got started and you've maybe lost that first
flush of enthusiasm with the day to day details of
running your business how do you keep going?
There are several things to look at here:
1. What are you really good at and what do you enjoy
doing? Make two lists - one of all the jobs you like
and/or are good at, and one of all the jobs you hate
and/or really don't do very well. Take the second list
and have a look at what you might outsource or automate.
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Do you really love doing those accounts or would your
time be better spent in forward planning while your
accountant does the sums? Must you personally reply to
every last enquiry or could you create a FAQ which you
can post on your website and refer people to by
autoresponder? Obviously in the early stages of your
business you might find you don't have the money to pay
someone to do the jobs you hate but you've got to think
about what is best for you and your business long term.
Be creative - could you swap skills to get the help you
need? The more routine jobs you can outsource or
automate the more time you have to plan and to market
your business, and to think about even more ways to
bring in all that lovely cash - not to mention you get
to spend more of your time doing the things you really
enjoy doing.
2. Why are you doing this? You really need to be
motivated to start a business and keep it going and the
best way to do this is to know what all that effort is
for. What really moves you to get up in the morning and
do what you need to do even when you don't really feel
like it? Write your reasons down and stick them on your
wall. Even better find pictures of that house in the
country, the Lamborghini or that 'must have' holiday and
put them where you can see them every day.
3. How do you deal with those inevitable bumps in the
road? Not everything you do will be perfect - sometimes
things you've tried will be a total disaster - but it's
the way you react to problems that matters. If you curl
up in a ball and give up at the first sign of failure
you'd better not be in business. "Patience and
perseverance have a magical effect before which
difficulties disappear and obstacles vanish." - John
Quincy Adams. It's all about attitude.
4. Have a plan and stick to it as far as possible but
always be prepared to be flexible and open minded.
Sometimes the most unexpected opportunities come up and
you need to be ready to seize them with both hands - as
Joe Vitale says 'Money likes speed'.
5. Get yourself a mentor - learn from someone who has
done it before. Having someone to bounce ideas off and
someone who can encourage you when things get tough is
invaluable.
And most importantly, never let anyone put you down and
never be afraid of failure:
"It is not the critic who counts, not the man who
points out how the strong man stumbled, or where the
doer of deeds could have done them better. The credit
belongs to the man who is actually in the arena; whose
face is marred by dust and sweat and blood; who strives
valiantly; who errs and comes short again and again; who
knows the great enthusiasms, the great devotions, and
spends himself in a worthy cause; who at the best, knows
in the end the triumph of high achievement; and who, at
worst, if he fails at least fails while daring greatly,
so that his place shall never be with those cold and
timid souls who know neither victory nor defeat"
- Theodore Roosevelt.
Don't ever forget that!
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