Most businesses start with an idea and a lot of effort. Entrepreneurs run from one customer to the next, the focus is on keeping the lights on.
The most successful projects start with the end in mind. Spending the couple of days required to map out what the project will look like in a year, 3 years, 5 years – whatever timeframe you’re working on.
The typical challenge entrepreneurs provide is – this is impossible to do. It’s not. So first up, you won’t be right. However, if you have something to aim for, it makes it so much easier to hit.
For example, if you’re setting up a business selling custom organic cotton t-shirts, the common thing to do is either:
- Jump straight in – setup website, facebook page, contact suppliers, etc.
- Prepare a detailed business plan mapping out all the exact details – *yawn*
Instead, if you work up a one-pager (a slide, word document or whatever) clearly setting out what the business will look like in a specific timeframe (I like either 1 year, 3 year or 5 year [or all 3!!!]). Start with the longest time frame and map out what you actually want the business to look like. Lenses to consider include:
- Operating model (in-house design or outsource, in-house production or outsource)
- Marketing (where will your customers be coming from – mailing list, FB, Insta, Networking, etc.)
- Financials (turnover, profit, costs, etc)
This work is easier to do than you think and is a hugely worthwhile exercise. Give it a go.