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| Step 6 - Implement Your Plan |
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STEP 6 - IMPLEMENT YOUR PLAN
So now you know what you want to do and you know what you need to
learn to be successful. Before you jump blindly into your project though,
you'll need to put together a business plan. A strategy of how, when,
where, what, how, who, and all the rest of these questions. You’ll want to
look at potential customers, competitors, start-up costs and a bunch of
other stuff. Some of you will wonder why you should have a business plan
if you’re going to be a musician, for example. You might have heard the
saying before: "If you fail to plan, you plan to fail." It will be your road
map, if nothing else. If you don’t plan, chances are you won’t finish what
you started. Enthusiasm might fade as you encounter some setbacks, and it
will happen. So sticking with a plan and being disciplined should help you
through some troubled times.
Some people get stuck in the planning phase though and never put their
ideas into action. This is probably where most plans come to an end as
well. That’s the difference between the people who “make it” and people
that don’t. We all have plans, but the difference between the person who’ll
work for a salary for the rest of his life and the person who is his own
boss, is taking action. Nothing gets done by doing nothing. Remember
your plan should be goal specific and is a written document, which indicate
action within a specified time frame. It isn't going to do you any good just
thinking about it. You need to write it down.
Furthermore you should remember that nothing is set in stone. So if your
plan doesn't work out the way you expected, rethink your strategy, but do
it on paper. I’m not going to go into details about exactly how to draw up a
business plan or a marketing plan. There are many legal and tax
professionals who can help you with that and there are many good books
written about the subject. I’m just going to outline a few things you might
need to look at.
You'll need to take care of the following before setting sail into the unknown:
Create a business entity
Legal and accounting matters
Resources
Emergency fund
So now you know what you want to do and you know what you need to
learn to be successful. Before you jump blindly into your project though,
you'll need to put together a business plan. A strategy of how, when,
where, what, how, who, and all the rest of these questions. You’ll want to
look at potential customers, competitors, start-up costs and a bunch of
other stuff. Some of you will wonder why you should have a business plan
if you’re going to be a musician, for example. You might have heard the
saying before: "If you fail to plan, you plan to fail." It will be your road
map, if nothing else. If you don’t plan, chances are you won’t finish what
you started. Enthusiasm might fade as you encounter some setbacks, and it
will happen. So sticking with a plan and being disciplined should help you
through some troubled times.
Some people get stuck in the planning phase though and never put their
ideas into action. This is probably where most plans come to an end as
well. That’s the difference between the people who “make it” and people
that don’t. We all have plans, but the difference between the person who’ll
work for a salary for the rest of his life and the person who is his own
boss, is taking action. Nothing gets done by doing nothing. Remember
your plan should be goal specific and is a written document, which indicate
action within a specified time frame. It isn't going to do you any good just
thinking about it. You need to write it down.
Furthermore you should remember that nothing is set in stone. So if your
plan doesn't work out the way you expected, rethink your strategy, but do
it on paper. I’m not going to go into details about exactly how to draw up a
business plan or a marketing plan. There are many legal and tax
professionals who can help you with that and there are many good books
written about the subject. I’m just going to outline a few things you might
need to look at.
You'll need to take care of the following before setting sail into the unknown:
Create a business entity
Legal and accounting matters
Resources
Emergency fund
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