When you’re planning your first steps into running your own business, it can be tempting to dive right in and go all out, doing everything all at once and wearing every hat available to you. Don’t do that. While you might think it sounds like the responsible thing to do, you won’t get much done that way—or make much money either, for that matter.
What is the secret?
Every business needs a plan. But what if you don’t know where to start? Don’t worry, I’ve got your back. My simple steps will help you create a plan that’s right for your business and get started today. The first step is deciding on the type of plan. Different types of businesses need different things, but here are some general categories:
Organizational Plan this includes your mission statement and how you organize your team internally and externally.
Financial Plan this includes what goes in a budget, forecasting, cash flow management, etc. It also includes financial statements like income statements and balance sheets.
Why does it work?
It is not complicated. The secret is all about finding out what you want and need, and using simple steps, in a logical order, to make it happen. Small business coach Chris Anderson shares her seven steps for starting a business on her website:
- Find your passion;
- Find your purpose;
- Define your goals;
- Research the market;
- Develop a business plan;
- Build a team of advisors and mentors;
- Work hard and be persistent.
It’s always worth reminding yourself that if you are going after something big and meaningful then getting there will take time, Anderson says. Don’t give up when things get tough because this is where people succeed or fail.
Anderson also stresses the importance of self-reliance, which includes learning everything possible about running a small business from experts. One major mistake many new entrepreneurs make is waiting around for someone else to tell them what to do next, she says. While working with others can help tremendously, ultimately it’s up to you to take charge and figure out how to get things done.
How can you use it in your business?
Small businesses can feel so big and daunting, but the best way for you to get started is by taking small steps. The Small Business Coach has put together a list of simple steps that will help you get started with your business, whether it be a hobby or a full-time venture. Start by doing some research on what other similar businesses are doing and what they have done to be successful. Once you’re ready for more, take some time for yourself (and your family) to come up with a plan and some goals. Take this time as an opportunity to decide how much commitment you want from yourself and how often you’ll work on your business idea. Finally, make sure that the company has adequate financing before continuing!
What are some other benefits of using this secret?
This secret is not just for the larger businesses, it is for all small business owners. The reason this plan works is because it provides a clear understanding of what needs to be done and how long each project will take. A small business coach can help you set up your plan and keep you focused on what needs to be done next. If you are unable to follow through with your own plan, then make sure you find someone who can help. Once you have a plan in place, things will get easier as time goes by.
Are there any drawbacks to using this secret?
It’s important to note that the planning secret I am about to share will not work for all businesses, and it might not be a good fit for your current business. The secret is surprisingly simple: plan for what you want rather than what you fear. This may seem like common sense, but many people make the mistake of focusing on what they don’t want or what could go wrong in their business. It’s like worrying about getting struck by lightning before you even leave your house. Once you start thinking about what you want and how it will happen, the fear of failure can diminish because there is a clear path ahead of you.