You want to start up a business as fast as you can because that
great idea is burning a hole in your mind right? But, you've been told
you need to do a plan and that sounds painful.
You've probably even seen a plan template and had a little freak out at the amount of information you needed for it.
Well I'm going to share with you a small business secret that top entrepreneurs already use.
Obviously I don't need to tell you that planning is good. I'm a fully qualified PMP project manager and previous experience has taught me that poorly planned things go, well, poorly.
However there is a secret simple formula that tells you exactly how much planning you actually need.
To answer that let's ask ourselves a few questions?
Are we quitting our jobs, borrowing thousands and looking at a long time to market our service or project?
If you answered yes, your taking on a lot of what we project managers call RISK. The more risky the business ventures the more detailed your business plan should be. This ensures you're not flying by the seat of your pants into certain doom.
Are you looking to start a second income business with under a thousand dollars investment and still remain working in a full time job?
This is a low RISK venture, meaning you still need a plan, but you don't need anywhere as much detail.
So here they are, the 2 small business planning secrets:
1. Do as much planning as you need to manage the risk.
2. Review your business plan every 2 months
Business plans are not set in stone. If you start a basic business plan and find your business developing quickly, add more detail to the plan. More growth, more risk, more planning.
To ensure that you stay on top of things proactively review your business plan every 2 months. An easy to read business plan can be reviewed and edited in fewer than 5 mins. There is no excuse for not revisiting your business plan.
If you're an entrepreneur you don't want to waste valuable time working on a highly detailed business plan for a low risk venture. You want make the best possible use of your time. Are you making the best use of your time?
You've probably even seen a plan template and had a little freak out at the amount of information you needed for it.
Well I'm going to share with you a small business secret that top entrepreneurs already use.
Obviously I don't need to tell you that planning is good. I'm a fully qualified PMP project manager and previous experience has taught me that poorly planned things go, well, poorly.
However there is a secret simple formula that tells you exactly how much planning you actually need.
To answer that let's ask ourselves a few questions?
Are we quitting our jobs, borrowing thousands and looking at a long time to market our service or project?
If you answered yes, your taking on a lot of what we project managers call RISK. The more risky the business ventures the more detailed your business plan should be. This ensures you're not flying by the seat of your pants into certain doom.
Are you looking to start a second income business with under a thousand dollars investment and still remain working in a full time job?
This is a low RISK venture, meaning you still need a plan, but you don't need anywhere as much detail.
So here they are, the 2 small business planning secrets:
1. Do as much planning as you need to manage the risk.
2. Review your business plan every 2 months
Business plans are not set in stone. If you start a basic business plan and find your business developing quickly, add more detail to the plan. More growth, more risk, more planning.
To ensure that you stay on top of things proactively review your business plan every 2 months. An easy to read business plan can be reviewed and edited in fewer than 5 mins. There is no excuse for not revisiting your business plan.
If you're an entrepreneur you don't want to waste valuable time working on a highly detailed business plan for a low risk venture. You want make the best possible use of your time. Are you making the best use of your time?
Use your extra time to create a second income. Drop by The Great
Cubicle Escape [http://www.thegreatcubicleescape.com] to read more about
time management, making a second income and entrepreneurialism. Let The
Great Cubicle Escape help you escape the cubicle with crazy passive
income ideas and methods.
Article Source:
http://EzineArticles.com/?expert=Justin_Mountford
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