“By failing to prepare, you are preparing to fail” – Benjamin Franklin
Every business, product, service, and system we have today began as an idea. What took those ideas from electrical impulse to physical entity was the planning and process in between. As a budding entrepreneur I’m always pitching and hearing ideas for business ventures from friends and family.
While I enjoy work-shopping ideas immensely, it always hurts my heart strings when someone with a solid concept fails to follow through. The best way to stop your ideas from staying ideas is to create a business plan.
A business plan is the skeleton that will support you through the process of starting your business. Creating a business plan forces you to describe every little detail of your fluid idea and, in that way, mold it into something solid.
This link is a crash course in business planning from the amazing folks at Futurepreneur Canada, (formerly the CYBF). They layout the bones that build the skeleton in this business plan template generator . I’m currently in the process of drafting up my own using their headings and pointers and it makes a world of difference.
These plans are what help you work out the bugs in your concept, they’re also what investors and loan officers will read over meticulously to make sure you’ve calculated your own risks.
It will help you define your audience, create a tangible strategy to market and differentiate you from competitors, and give you the opportunity to research your industry to discover threats and opportunities you may not have considered.
So please use those great links and start on the road to your financial independence. If your thinking of ways to build your business and work for your passions then I do believe we are cut from the same cloth. I want to hear from you if you need help starting your research or want to pitch an idea. Drop a comment below or connect with me on Twitter @Enzofromspace
Here’s some motivational tunage to throw on in the background, good luck!