Somewhere in the depths of many minds is an idea for a new business. It has languished, perhaps for several years, without seeing the light of day. Occasionally the idea comes to the forefront, and we are filled with dreams of what could happen. Uncertainty enters our mind and once again excuses dominate our thoughts and the dreams fade back into oblivion. The idea comes back many times but never finds the “start button”.
If such a dream exists in your mind, the best time to implement it is right now. I believe that a new business can be up and running within a 30 day time frame. In order to achieve this seemingly impossible goal there are several requirements:
First: You have to be passionate about the product/service that you want to introduce.
Second: You have to tell several people about the start date of your new business. By sharing your goal and its timetable, you are committing to others that you will be up and running by the end of 30 days. By doing this, you have become accountable to those with whom you shared your dream.
Now that you have made a public commitment, the work starts.
- Take a 30 day calendar and determine how much time you have each day to devote to starting your new business. Forget about the 8 hour and 5 day work week. It’s may be a 12 hour or more work day and a seven day work week.
- Next, write down exactly how your business will look like when you open it in 30 days.
- Write a description of your product or service, including who it will benefit and what those benefits are.
- This process only deals with the positive aspects of starting the business and the work required to be open in 30 days. While a business plan and its components may seem important to the long term success of this new venture, I recommend using the essentials-only, building block method for developing and implementing a plan. During this 30 day period our vision is to open the business just as outlined in this process.
- The building blocks include: customer segments, value proposition, resources, revenue streams, budgets, marketing channels, and key activities.
The single most important component will be your support person who will walk this 30 day journey with you. Together you will identify the necessary ingredients of each building block and plan their implementation.
Everyone should carefully observe which way his heart draws him, and then choose that way with all his strength. Hasidic saying
Nick J. Petra CFP I would like to become your support person and help you achieve your dreams