Many talented entrepreneurs have invested their life savings launching a great business idea, with hopes and visions of becoming the next great rags-to-riches story. They dream of being their own boss, providing more comfort for their family, having more time for vacations, maybe even buying that big boat they always wanted. Unfortunately, these dreams, for the majority of entrepreneurs, remain only a dream due to lack of knowledge of how to go about starting a new business. Even worse, many others end up with a lost savings, a lot of debt, or maybe even the process of bankruptcy due to a failed venture.
Business startups and businesses in general, do not necessarily fail due to bad business ideas, or unwanted services. The majority of business failures occur due to poor planning, inadequate implementation of the business plan, or simply no plan at all. These plans are not developed because most beginning entrepreneurs, despite their product or service knowledge, are simply not aware all that is involved in taking a product or service to market.
However, when appropriate counselors are engaged to guide and walk you through the process, the probability of success increases dramatically. Those advisors, of course, need to be experts in business startups. They will be able to plan your process, step by step, and help you implement the steps where:
- Processes are developed
- Expectations are established, and
- Parallels to your objectives are revealed.
Every business plan must be developed and mapped with well defined segments that will allow proper monitoring and evaluation of the progress from start to finish. While developing the plan, make an evaluation on whether each step produces the required results that moves you closer to your goal. Once the written business plan is completed, each step should be emulated, as a walk through, to again evaluate that the process flows seamlessly from one segment to the other, and that the intended objective will be accomplished. This mapping process ultimately increases the chance of success, and in today’s economic environment choosing the right advisors, that can share in your motivation for success, is critical.
Anders has a team of advisors with the expertise, and the motivation, to help your business startup process. Contact us for assistance in achieving the next big dream.All Insights