Consider the following scenario: A husband and wife, both working, would like to try their hand at starting a business. Neither have any previous business experience and don’t have a particular type of business to start. After several visits, we came up with the following action plan:
- First rule was to select a low-cost business. We set a budget of $1500 for start up capital.
- The next step was to select a low risk business as well as a “learning” business.
- Knowing that this first business may not be the one that they would eventually be their full time work, we carefully created a realistic “business type” list that met their criteria.
- Buying items from garage sales and re-selling them at swap meets
- Car detailing
- Vacation home care (short term home care while owners are on vacation; water plants, take care of pets, etc.)
- The list they created ended up with a total of 7 possibilities.
- A time analysis was then completed on each possibility. It was important that the time required to operate the new business would not take away from their full time jobs. The list was then cut down to a total of 3.
- Our next meeting will be used to develop a simplified Value Based Strategic Focus Plan for each of the 3 businesses under consideration.
- We have set a goal of April 16, 2012 to have all our “Ducks in a Row” and open the business.
I am so very proud of these clients. Only in their early twenties, they will be spending their free time “learning”, through experience, the basics for growing a business. I will be meeting with them every two weeks until the business has been operating for 6 months. Coaching is an important part of their future success, and we will have monthly meetings for the foreseeable future.
There is hope for the future of our country!
The journey of ten thousand miles begins with a single phone call.
Nick Petra I’ll be waiting for your call to start you on your way to success! email@example.com
Make it a Successful today!