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Don’t start a business before you know all the reqirements

Before anyone starts a business they should go through a two day “Pre-business understanding session”.

The majority of new businesses start without anything except hope and a dream. If they are lucky, they may find someone to guide them through the business plan development process. Unfortunately, very few businesses ever reach this point. With a current failure rate of approximately 85% in the first five years of a business’ life, there is a need for education as to what is involved in opening and running a business.

The following are a few highlights of Strategic Duck’s “Pre-business understanding session”.

  • Purpose
    • To build a foundation upon which to build a business plan
    • To raise awareness of all the physical and mental  requirements necessary to start  a new business
    • To provide the tools for a self-evaluation and an understanding of why this is the path to be traveled.
    • Time
      • Our process is a two day process;
        •  The first day there is a morning session with a “homework” assignment for the afternoon.
        •  The second day is a workshop session looking at the different parts of a successful business growth process.
        • It is recommended that this “Pre-business understanding session”  be completed at least one week prior to the start of a business plan development. This allows the participant(s) time to make sure that this is the direction they want to go.
        • Who should attend
          • If it’s a one person business, we encourage the spouse to attend the two day session as family life plays an important part in the ultimate success of a new venture.
          • If there are two or more partners in the proposed venture, all should attend. The second day during the last hour we encourage the spouses to attend a review of what was covered, followed by a dinner out. ( yes, I attend the dinner to listen and learn).

if the ultimate goal is to create a business that will not only feed the owners but provide an income for a good living and retirement, then these two days are critical to the overall picture.

To bring one’s self to a frame of mind and to the proper energy to accomplish things that require plain hard work continuously is the one big battle that everyone has. When this battle is won for all time, then everything is easy.                                                                   Thomas A. Buckner

Nick J. Petra CFP  “Growing your business is our only business”   www.strategicduck.com

Make it a successful today!

 

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