Are You Planning to Fail?
| Category: Entrepreneurship | Date: 2001-07-18 |
"HA! What a stupid question!", you snort. Maybe not...
The maxim is: Most people don't plan to fail, they fail to plan. The corollary is: Plan Your Work, Work Your Plan.
I don't know who wrote either of those. They were hammered into my head at just about every class I took and seminar I attended when I was getting started in business. They are worth your time and attention.
Nobody would send out a hundred invitations to a party without doing some serious planning (would they?). But they'll jump into an online business on impulse. Go figure.
If you're thinking about starting an online business, or if you have one that's not doing as well as you had hoped, here are some questions you'd do well to answer, for your own sake:
MOTIVATION Why do/did you want to get into this business? Are you looking for more income, a career change, maybe more family or leisure time? Before you can make your plans, you really need to know why you're making them, determine what's driving you. If you don't know, you're not ready.
Why not? Well, if you don't know what's driving you, you won't know where to get more gas when you run out - and we all do sometimes.
COMMITMENT How much of yourself, your time, your efforts and your money are you willing to invest in a new venture? Hint: "Whatever it takes" is not an answer. Get specific. If the business is going to take 40-50 hours each week and you've only got 20 hours to spare... Well, you know the rest. Something's got to give.
ATTRIBUTES and LIABILITIES What are your strengths and, just as important, your weaknesses? What will you bring to the party and where will you need help? Be honest with yourself about your weaknesses. We all have them, and it's a whole lot easier and cheaper to handle them upfront.
For example, every business involves marketing and sales. So how developed are your skills in those areas?
By the way, people often use the terms "marketing" and "selling" interchangeably, and they're not the same. That's like using "foot" and "toe" interchangeably.
From the Oxford Dictionary: Marketing - the activity or process involving research, promotion, sales and distribution of a product or service.
Selling is the process of persuading a prospect to exchange his or her money for your goods or services. It is a part of marketing and an art unto itself (with a bit of science thrown in). And follow-up is vital if you want a repeat customer.
If you're like most of the people at the recently-vanished mega-buck dotcoms, for example, you may be a dynamic promoter but not so hot in selling. That way lies an expensive collapse - get yourself some serious sales training.
Once you've determined these three - Motivation, Commitment and Attributes-Liabilities - you're ready to select or create your business opportunity. Which means creating your budget, business plan and marketing plan (but not right now).
Hey! You're not planning to fail - right?
Copyright © 2001 Kent E. Butler
About the Author
Kent Butler has been writing for business for 30+ years and objects to tech-speak.If you want to get the best from your computer and Internet experiences, claim your free membership (with Kent) in The Newbie Club (all plain English!) by going to http://newbieclub.com/cgi-bin/sgx/d.cgi?GetHelp
:To contact see details below.
keb@bayserve.net
http://www.butlermarketinggroup.com/
The maxim is: Most people don't plan to fail, they fail to plan. The corollary is: Plan Your Work, Work Your Plan.
I don't know who wrote either of those. They were hammered into my head at just about every class I took and seminar I attended when I was getting started in business. They are worth your time and attention.
Nobody would send out a hundred invitations to a party without doing some serious planning (would they?). But they'll jump into an online business on impulse. Go figure.
If you're thinking about starting an online business, or if you have one that's not doing as well as you had hoped, here are some questions you'd do well to answer, for your own sake:
MOTIVATION Why do/did you want to get into this business? Are you looking for more income, a career change, maybe more family or leisure time? Before you can make your plans, you really need to know why you're making them, determine what's driving you. If you don't know, you're not ready.
Why not? Well, if you don't know what's driving you, you won't know where to get more gas when you run out - and we all do sometimes.
COMMITMENT How much of yourself, your time, your efforts and your money are you willing to invest in a new venture? Hint: "Whatever it takes" is not an answer. Get specific. If the business is going to take 40-50 hours each week and you've only got 20 hours to spare... Well, you know the rest. Something's got to give.
ATTRIBUTES and LIABILITIES What are your strengths and, just as important, your weaknesses? What will you bring to the party and where will you need help? Be honest with yourself about your weaknesses. We all have them, and it's a whole lot easier and cheaper to handle them upfront.
For example, every business involves marketing and sales. So how developed are your skills in those areas?
By the way, people often use the terms "marketing" and "selling" interchangeably, and they're not the same. That's like using "foot" and "toe" interchangeably.
From the Oxford Dictionary: Marketing - the activity or process involving research, promotion, sales and distribution of a product or service.
Selling is the process of persuading a prospect to exchange his or her money for your goods or services. It is a part of marketing and an art unto itself (with a bit of science thrown in). And follow-up is vital if you want a repeat customer.
If you're like most of the people at the recently-vanished mega-buck dotcoms, for example, you may be a dynamic promoter but not so hot in selling. That way lies an expensive collapse - get yourself some serious sales training.
Once you've determined these three - Motivation, Commitment and Attributes-Liabilities - you're ready to select or create your business opportunity. Which means creating your budget, business plan and marketing plan (but not right now).
Hey! You're not planning to fail - right?
Copyright © 2001 Kent E. Butler
About the Author
Kent Butler has been writing for business for 30+ years and objects to tech-speak.If you want to get the best from your computer and Internet experiences, claim your free membership (with Kent) in The Newbie Club (all plain English!) by going to http://newbieclub.com/cgi-bin/sgx/d.cgi?GetHelp
:To contact see details below.
keb@bayserve.net
http://www.butlermarketinggroup.com/
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