Just Starting Up

Week one or is it, My next business idea has been growing for a few weeks and although networking and discussing the business has commenced, I still have a lot more to think about or rather take action on.

 Most business fail because they fail to plan.

For me it is time to put a plan into place which will show a achievable profit objective and marketing systems to achieve my business goal. There is a lot of help on government website and I have downloaded a business plan from business.gov.au which is also available as an app. Mybizplan

I will follow the below steps but will also commence the business, must not procrastinate.

Step one: Do your research - make phone calls and ask questions, in my case I need to check business structure, pricing and find out the need for the services in what I believe is my niche market.

Step Two The Plan - write a detailed plan. Sell the story to yourself and investors. You may need to show the plan to others. If you need finance you certainly will need to sell your vision. I am requesting help for part of the plan as I research the numbers.

Step Three Get Advise - speak to your BEC (Business Enterprise Centre), accountant or business advisor. Find a mentor or someone who has works or has worked in the industry. With my new business venture I've made contact with other in the industry and commenced networking.

Step Four Commence - Start working in the business while working on the business. You need to earn an income. Ok I need to get this one going. Have phone potential clients and believe I will sell the story.

Todays questions to ask yourself:
1) Am I clean about my personal and professional motivations - why do I want to do this?
2) What market shall I target and what is my market size?
3) What is the competitive landscape and how are my services different?
4) How will I make money? Do I have or does the team have experience and commitment?


What book I'm currently reading. Total Recall - Arnold Schwarzenegger - My unbelievably true life story

Today's quote: "Always plan ahead. It wasn't raining when Noah built the ark." Cushing, Richard C. 1895-1970 American Roman Catholic Cardinal