A Strategy For Growth (continued part two)

Step Two: Questions And Answers To Consider

Is A Business Plan Important?

A business plan is extremely important, in order to have an effective and successful business. While it can be costly and time consuming, to actually format a strategy for a business plan, it could turn out to be much more 'cost effective' in the long run. In fact, it may cost you more not to have one, than it does to develop one. Take the time to put your business plan strategy in writing.

Where Does A Business Plan Begin?

Any successful business plan strategy, will begin with an 'idea' that needs to and could be developed further. A business plan strategy can begin with simple 'brain storming', in other words writing every possible 'idea' about a potential business on a piece of paper. Sorting through all of the various 'ideas' is easy to do. Categorize them with respect to validity. You will find that you have begun the strategy for a successful business plan. Discard any of the 'ideas' that are not 'cost effective' and would be detrimental for your business growth and development.
Is Guidance Necessary For Growth?

There are many people who have attempted to develop businesses on their own and have succeeded. We seldom hear about the ones who have not succeeded. No one can be an expert on everything and the reality of the situation is that no one needs to be the expert on anything, in order to have or to run a successful business. There are experts in every field imaginable, who are just waiting to have their expertise 'tapped' into, by someone who has the energy and the ambition to do it. It is a wise person who takes the time to learn. Trial and error can be fun, but it can also be very frustrating, so why not find a strategy that is already known to work?

Is Research Essential For Business Development?

Research opens up a wide area of possibilities, for the person who is just beginning to develop a business. Generally, taking the time to do serious reseach is time well spent, but it is important to spend time doing research that is 'appropriate' for the particular business plan strategy. Research as an open concept can be just a 'jungle' of information, that really does not apply to business growth and development. It may not be beneficial and may prove in the long run to be a waste of valuable time.

What About The Cost Of Starting A Business?

A new business can be started in a way that costs absolutely nothing. Many successful businesses have begun that way. What gets to be really important, right from the beginning, is whether or not the 'profit' outweighs the 'cost'. If the 'cost' is continually higher than the 'profit', right from the beginning, it is a 'negative' cost scenario and on a long term basis, may not prove to be 'cost effective'. Not everyone has the luxury of having a lot of money to invest in a new business, but most people can 'invest' at least some time in a new business development project. Realistically, every business has to support itself in some way or it cannot survive, but the initial cost can be minimal.

Do I Need A Business Partner?

Many individuals have the 'entrepreneurial spirit' that is essential to establish a new business and the fortitude necessary for the growth and the development of that new project. But there are others who simply do not function at their best as individuals and are better suited for partnership relationships in business. Remember that adding a partner to your business complicates your business, with respect to his or her capacity to function in terms of what is essentially 'your business project'. No two people have exactly the same 'vision' for a new business. Very few people can work together without some disharmony at some time. Business partnerships can work but the partners have to work together. Sometimes it is just so much simpler to establish the business on one's own and to work on a 'single proprietorship' basis.

How Much Time Is Needed To Build A Business?

When one considers the possibility of building a business, the time factor is extremely important. Time has a way of passing, whether or not one chooses to do something positive and constructive with it. How we spend our time is a matter of choice, at least to some degree. There is always time to do the things that we place as priorities in our lives and if we place building a business as a priorty, it will assume that place in our lives. How much time we choose to put into building a potential business, depends to a great deal on the specific business plan strategy that we choose. The more time that we 'invest', the greater our results will be in the long run.