Goal setting

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:

  1. Setting out your business plan in an Executive Summary
  2. Presenting information about yourself / how you got the idea of the business/ why you’re capable of running a business
  3. Setting out what your products and/or services are
  4. Doing market research to determine the viability of your idea
  5. Analysing competitors
  6. Setting out what your marketing strategy would be
  7. Setting out how you will operate your business
  8. Setting out what the costs of your products/services are and your pricing strategy
  9. 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….!

 

A bit of background

I want to give a bit of background to how I got to where I am now – which is the beginning of attempting to go through the process of starting a business.

I’ve said in my first post that I’ve always wanted to have a business, but somehow or the other despite my many business ideas I was never able to push through to the point of getting to the business plan stage and working through it. I’ve realised now why this is the case, and I think it’s important. The business ideas I’ve previously always had (whether they could objectively be considered good or not) were not ideas that were true to me. I’ve had so many app ideas, and tech ideas, which is insane because prior to today I’m such a luddite I didn’t even have a twitter or instagram account (I’ve now opened them as part of tracking this whole process). I’ve also had ideas that I was sure if I got funding they would be millionaire making, but again, not ideas that I cared much for. It was only a few weeks ago when I was thinking about something that I would really find useful, that I really needed, and that I thought other people could really benefit from as well that, for the first time, I had an idea that I cared about. That wasn’t about the money. that spoke to me and was true to me.

I have no idea what will come of this whole process, but I now know that it is only when you have an idea that calls to you and speaks to you, and that you feel passionate about irrespective of success or money, that you will begin to get clarity in the process and the motivation to start to see things through.

My project

My very very first blog post.  How mucho exciting.

I’m doing this because I want to start a business. It’s something I’ve always wanted to do, and whilst throughout the years I’ve never been short of ideas, I’ve had no idea about how to turn one of those ideas into an actual business.  Pretty sure I’m not alone here. So, I thought I would start a blog to track my progress. From idea to business (should I get there!). I’m really doing this for myself at the moment – keeping a record of what I’m doing, ensuring I stay on track and progress to a final outcome, and committing myself to being honest about the entire process. I’ll put everything I learn and all the resources I use up on here, so you never know, maybe down the line it may of use to other people as well! Here’s hoping!