The lifeblood of any business is its contact list. This is where potential clients and opportunities reside. Without a robust contact list, it becomes challenging to market, promote, or sell products and services. In my “Be Your Own Boss” Dream Team, I’ve observed that not everyone operates at the same pace or with the same drive. While I value efficiency and strong work ethics, I’ve come to realize that not everyone can match my speed. I have a penchant for working swiftly and juggling multiple aspects of my business simultaneously, and not all of these operations run on auto-pilot.
Whether you’re an emerging entrepreneur with a fresh idea or an experienced business owner looking for enhancement, mastering the Three P’s is essential for achieving unmatched growth and longevity. Join us as we delve deep into the core of each ‘P’ and explore how this trio can be your compass in the intricate landscape of business.
Plan
Once you’ve pinpointed the ideas from your brainstorming session to form the foundation of your business, establish a strategic action plan. Detail all the prerequisites before you launch your venture. Consider the following ongoing costs:
- Premises rental
- Utility bills
- Regulatory permits
- Professional licenses
- Legal consultations and fees
- Stock or inventory
- Personnel and staffing
- Branding and design
- Marketing materials
- Contact lists
- Software and technology
- Promotional campaigns
Document everything and allocate specific deadlines for each task. This approach not only keeps you on track but also allows you to gauge your progress effectively.
Prepare
Starting a business requires meticulous planning and execution. From designing your brand identity, producing marketing materials like business cards and brochures, to setting up a website, there’s a lot to tackle. It’s also crucial to seek advice from professionals like CPA’s, attorneys, and HR experts. For those considering a physical location, factors like renting or purchasing a space, setting up utilities, furnishing the premises, and organizing inventory are essential. If you’re looking at a home-based business, some steps might be easier, but every venture has its challenges. It’s always wise to allocate ample time for the startup phase. It’s better to overestimate your setup time than underestimate it and risk running out of funds.
Persist
This is the most important step of running a business. Without persistence, you won’t even be able to finish your business plan. Hang on like a pit-bull. When the going gets tough, get tougher. Have worst case scenario plans to fall back on, as well as best case scenario plans.
Some businesses become over-night successes, while other take year to develop. If you plan, prepare and persist, you’ve got a very good chance of making it.
ALL THE BEST,
TarynsBusinessHub
info@tarynsbusinesshub.com