Something I’ve realised for this process to work is for me to have realistic goals. Goals that I can achieve and not what Google has told me others achieve. With each of my business ideas to date I’ve set myself the goal of having the business at the launch point within a year. I had no idea of how I was going to get there or what the process would be, and it didn’t matter to me if the business would succeed or not – I just wanted to have the a business ready to launch within 365 days of work.
This has not worked for me. And so, with my first blog post for ‘The Hatched’ (before I went back and edited it – ha!), I set myself a more realistic goal: to have a business plan complete within 3 months (Google searches tell me that 3 months would in fact be more than ample time and anything longer than this you’re probably doing something wrong). And so I thought this was manageable and smart and goal oriented, but over the past couple of weeks as I’ve flailed over business plan templates I realise again I’ve gotten ahead of myself. I work full time, I volunteer 4 nights a week, getting some exercise in is important to me, and I don’t believe in killing myself over this! So, I’m going to set myself very small goals – just one single step at the time, and doubling the time I think would be required to complete required for each. I figure this way, even if I complete the plan 10 or 20 times slower than somebody else, at least I’ve completed it.
My first goal
Through looking at various business plan templates (when I start to figure out this whole blogging thing I will links to the resources up and also upload the word docs I’ve created for myself to work off) I’ve determined that I need to work through the following 9 areas:
- Setting out your business plan in an Executive Summary
- Presenting information about yourself / how you got the idea of the business/ why you’re capable of running a business
- Setting out what your products and/or services are
- Doing market research to determine the viability of your idea
- Analysing competitors
- Setting out what your marketing strategy would be
- Setting out how you will operate your business
- Setting out what the costs of your products/services are and your pricing strategy
- Doing your financials (running the business and forecasting profits
So, as I said, I’m going to take this really simply to begin with. I’m setting myself the task of completing the ‘About Me’ section in 2 weeks. No judgement…..I told you I was going to give myself more than ample time….!