Entrepreneurship requires courage, passion, commitment and a level-headed approach to life. Regardless of whether you are about to start your own venture, already have or planning to. All the basics remain the same.
Starting with Resolution Creative I saw the importance of PLANNING. You have to have a plan for everything, big or small. It is a very important strategic tool for entrepreneurs. A good planning foundation not only helps me to focus on the specific steps necessary to make business ideas succeed, but it also helps me to achieve both my short-term and long-term objectives.
It is generally accepted that a successful enterprise is the result of a founder’s vision. What is less known and understood is that the vision is accompanied by months of planning. A vision is an essential part, don’t get me wrong, but it can never be an end in itself. If you want to be taken seriously, you will have to be clear in your mind how your propose to convert this vision into a reality. The basics of planning can be divided into four main categories: Vision, Value system, Strategy, Mission.
The oxford dictionary gives us multiple definitions for the word ‘vision’, which can all play a vital role in defining the basic idea of a business vision:
- A thing or and idea perceived vividly in the imagination
- Imaginative insight
- Statesmanlike foresight
As already mentioned, a vision alone won’t be enough to bring your ideas to life. Your vision has to be able to be linked to a realistic goal and a detailed action plan.
A value system can be described as a set of values or standards of behavior that will govern all actions of your new venture. You have to set out these values or standards of behaviors from day one, in order to align all your actions with your words.
Strategy is where the vision and value system meets, dealing with the actual implementation. A well thought out strategy will help you establish in a clear, concise and strategically sound way the direction for the organization. Strategic planning is about making choices, establishing priorities, allocating resources to strategic initiatives and coordinating to achieve desired results. Since all decisions should support the strategy, the strategy and the strategic initiatives are the reference point for decision-making.
A enterprise’s mission is a condensed statement of its purpose, basically the reason for its very existence. It is usually published in a statement form. It is also possible for an enterprise to have more than one mission, each aimed at a specific target audience.
Mapping the future for your business should never be low on your priority list. It can set you apart from others, it can help you succeed, and move your business into the direction you have envisioned for it from the beginning. There is no better time to plan all the details than right in the beginning. It is crunch time right now, claim your free workbook to start planning!