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One Through Nineastages In Making Your Ideas Reality |
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Written by Franta Shinsky
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Thursday, 25 September 2008 07:57 |
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1. Every dream has to start somewhere. What is it that you are actually trying to do, in a nutshell? Can you fit it into a single sentence? For example, aI want to build a business making greeting cards.a 2. Where do you want to end up? Where do you see your idea going in the future? Your final destination impacts the steps you take to get there. 3. What are your reasons for doing this? Is it to benefit yourself or someone else, or is there another purpose, for example, financial independence? 4. With your goal in mind and why youare striving for that goal, consider whether or not this is what you really want to do. If so, you need to figure out how to reach it.
by FrantaShinsky
1. Every dream has to start somewhere. What is it that you are actually trying to do, in a nutshell? Can you fit it into a single sentence? For example, aI want to build a business making greeting cards.a 2. Where do you want to end up? Where do you see your idea going in the future? Your final destination impacts the steps you take to get there. 3. What are your reasons for doing this? Is it to benefit yourself or someone else, or is there another purpose, for example, financial independence? 4. With your goal in mind and why youare striving for that goal, consider whether or not this is what you really want to do. If so, you need to figure out how to reach it.
The first step is to look at how to reach your dream, for example how to build a business from the ground up. 5. List what you will need. The odds of it being anothinga are fairly minuscule. If nothing else, it will need your time. 6. How much is enough? Despite your best intentions, there may come a point when you will have no choice but to turn your back on your idea, or at the very least leave it in a closet for awhile while you concentrate on other things. Although planning for failure is an unpleasant thing, it is important to know just how far you can go before you find yourself in over your head.
7. Youave written out your goals, now what can you do to reach them? What are the different steps you can take? Make a list and prioritize as best you caniathese ideas will go into a real plan of action in the future, and you need to make sure the important ones make it. Here are some examples based on a dream of building a business.
Option 1: Keep a normal full time job, but work during my free time to build up my own business. Pros: No loss of benefits or income. Cons: Great loss of time. The equivalent of two full time jobs wonat leave any time for family or much of anything but eating and sleeping.
Option 2: Leave my job, and devote all my time to starting my own business. Pros: With my full attention on the new business, it stands a better chance of success. Also have some free time. Cons: Requires a lot of savings or the new business to start generating revenue quickly. Also means that all benefits are cut off.
Option 3: Buy into a franchise, or buy an already-existing business outright. Pros: The foundation of the business is already laid; presumably there are existing clients who I might be able to keep. It might be possible to pay for the expertise of the current owner while bringing myself up to speed. Cons: Why are they selling the business in the first place? Is it really something I want to get into? If itas a franchise, there are bound to be fees.
8. Now that you have considered the pros and cons of each of your options, you need to select one. Which one has the best risk-rewards ratio for your situation? 9. With a basic plan of action decided upon, you can begin to look more closely at what you need to do at each stage. Make a timeline, and stick to it. You also need to make a realistic budget, considering everything that you will need to start your business. There is advertising, office space, and donat forget that youall need some sort of salary.
Example: A manas plan to start a construction business, working from the premise that he will continue to work full time at his current job while building it up. 1. Advertising Part 1: Make a set of business cards. 2. Advertising Part 2: spread the word through friends and friends-of-friends that I do construction work, and get some referrals. 3. Work as much as I can on the new business on the side; try and finish as many jobs as possible without dropping. 4. Save money, Iam going to need liability insurance before tackling any big jobs. 5. Get liability insurance and bonds. 6. Incorporate; it has legal and tax benefits. 7. Work. Work, work, work, as much as I can around my full-time job. 8. Set aside some money to hire an assistant to work part time when an extra set of hands is needed. 9. Quit the full time job and go into business for myself. Congratulations on a job well done, or, conversely, congratulations for giving it a try. In that case, go back, look at what went wrong, and try again.
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