Trident Press Wealth Creation Books

Saturday, January 28, 2006

Small business misgivings

Hi,
I'm on for a ramble.

I have a query? Why do small busineses feel it is ok to start a business without some sort of written business plan?
Answer: It's too hard!

I don't believe this is so. It is just a gathering of information collected along the way as you research your idea.
I think people tend to stop after they get a bit of an idea it could work as they are in a hurry to get started. That's fine but do the plan bit by bit as you go and be sure to have a set goal in mind. Do you want the business to become a public company? do you just want to earn a decent living? do you want to be able to sell it off? do you want a manager to run it for you?
These things are best set out from the beginning, it helps keep you clear on where you want to be. Sure things change and life gets in the way but just adjust the plan to suit. Revise it, update it and keep it handy to reinforce what it is your trying to achieve.

Another thing Market research. This is another area small busineses don't explore enough. Multi million dollar busineses wouldn't dream of operating without it why should we? If we look to success in the hope to copy and achieve something similar why not copy the tactics used that work, that get the big busineses where they are?
We all need to know our customer so we can understand what it is they want or need, how else can we supply that need and in the process make money?

I'd love all small busineses to operate as big busineses do and i bet there'd be an explosion of growth. As Bill Gates said and did you need to act like the big company you wish to become from day one. Look like it, sound like it, act like it no matter who you are whether your at home selling undies on ebay there's no reason people need to know that. Let them think you are a large underwear retailer and one day you will be.

1 Comments:

At 2:01 AM, Blogger Mike said...

I agree entirely with what you say about business plans Cath. As a matter of fact I have made the mistake of not making a business plan before I started out.

I would like to point out that there is a very good ebook available for all those people who are in business or a thinking of starting out. You can get some free chapters from http://www.lifebusinesscoach.net
I hope you don't consider this as Blog Spam. I don't mean it to be and when you take a look at the ebook (which you can also order in hardcopy) I think you will agree that this book is a very important source of information for the business world.
Thanks
Mike Burgess

 

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