I am a big fan of strategic planning and believe that going through the process of putting your ideas down on paper is highly valuable. I often receive questions about the what’s most important to consider when turning your dream into a reality.
If you’re thinking about starting a business or launching your next great idea into the stratosphere, I strongly believe that one of the most important areas of focus when doing this is to clearly think through your business model from day one so that you can be sure your idea and concept can make money. One of the biggest mistakes I see far too often are entrepreneurs in all industries thinking you can just “figure this out later.” If your starting a restaurant and you run an ad that you’re going to give away all your food for free you’ll certainly have a hit on your hands and become one of the most popular places in town no matter what you’re serving! You’re also sure to go out of business pretty quickly! When dreaming up your next great idea as you “waste time wisely” consider:
What will the customers really pay for your offering? Is there truly a need or demand for your product/offering at the price you intend to charge? Can you generate enough sales and become profitable when choosing that price point?
A great author who does a very nice job of covering the basics about business plan writing and related topics is Rhonda Abrams. I’d highly recommend you checking her titles out on Amazon if you’re serious about climbing this mountain!