though starting a successful business can be life expanding, but if
we want to create a long-term asset then we must think it out very
carefully before we commit time, money and most importantly, reputation
to our project.
The market is unkind to ill-conceived business
start-ups. Wikipedia suggests that 56% of business start-ups fail. To
become a successful entrepreneur takes care and preparation, not to
mention hard work and an element of luck.
The questions are simple and they are generic
- What are you selling? Whatever your business you are selling something.
- Who are you selling it to?
- Where are you selling it: shop, warehouse, business office, trade fairs, on-line?
- When are you selling it
Then again you need to ask the operational questions
- What will be the scale of your business - at least in the first place
- Who will you employ?
- How much time and money will you have to invest before the revenue starts to flow?
The answers are less so... but never fear, you are on the first loop of the Design Spiral and at this stage answers need be no more than approximate.
Nevertheless some things are clear from the start.
It is foolish to hobble your program by not using the tools available to you
- Governments and organisations like Chambers of Commerce around the world offer training, networks and guidance for budding entrepreneurs
- Anyone who doesn't use a computer and the internet from the start is making life unnecessarily difficult for him (or her) self
- Following on from that, the internet is full of information sources and free software and not accessing such sources is plain contrary
And you?
Are you ready for what your new business will demand?
- Every hour that God made, weekends, evenings...
- New skills, bookkeeping, salesmanship, negotiation, man (and woman) management
- Responsibility for everything that happens - seen and unseen
Now every question ends up on your desk - "the buck stops here".
But
look around again. Every small business you see has an owner, and every
one of those owners has addressed these issues, and most of them have,
or will succeed.
So even before you start on your business plan
proper there are issues to address. Take a few days to research your
market. There is no 'one size fits all' solution: much will depend on
your type of business, your location, your personal circumstances and
your ambitions.