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Now that you have your "Why"; Now that you have developed a vision for your business, let's work on some of the details of what the business will be.

The first step of course is to decide "What" you will offer.  Is it a product?  A service?

Great!

The first thing you need to know, however:  Is it something other people want?

If you live in an area that is hot and humid all the time, you probably won't do well selling coats or jackets.  Air-conditioners, on the other hand, might go over quite well.

Great!  We want to sell Air-Conditioners.

Now, how many will you need to sell?  How many people in your area are likely to buy?  What is your competition?  How will you differentiate yourself?

These just a few of the questions that you need to ask, and answer, as they form the basis of your Business Plan.  Yes, you really should write a business plan, even if you are planning to build a home-based business with only yourself.

There are many templates for such plans on the Internet, some free, some not so much.  SCORE is an excellent resource for getting templates, and for getting information on how to fill it out properly.  A business coach or consultant can help you find even more resources, help you put together a comprehensive plan, and even help you to execute that plan.

Your marketing plan is the key to your success.  The best idea in the world is useless unless it is shared.

If you build it, they won't come ... unless you tell them about it!
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"Today you do not need money to make money. You simply need knowledge."

I read this on a Facebook page recently, and I spent some time thinking about the implications of this.  While it is true that knowledge is power, one must have the resources in order to utilize that power.

Now, I am not saying that the statement above is wrong.  It is correct, up to a point.  Obtaining knowledge can require money, although the advent of the Internet has made it possible for one to become quite knowledgeable in many areas - the cost here is time.  You need to spend "time" to gather "knowledge", which will then lead to "money."

Time + Knowledge = Money

Well, not exactly.

I submit that the true formula is something like this:

Manage(Time) * Applied(Knowledge/Time) = Money

You must manage your time wisely while you both acquire and apply the knowledge you are gaining.  You must apply the knowledge efficiently and effectively, otherwise you lose time and money.

Staying focused on what really matters becomes very important.  This is where having a coach can be extremely helpful.  Staying focused on the activities that will bring about results will help you to manage your time, your energy, and enable to focus your knowledge into the activities that will help you to become successful.

So, you may not need to have huge monetary resources in order to get things going, but you will have to invest time and energy into yourself.
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Getting ready to start a new business venture?  Get ready for a lot of emotions:  elation, fear, happiness, anxiety - they all play a role, and you will face a mix of those and many more as you get the ball rolling.

Over the next few days I will be posting some tips on how to go about getting started the right way.

Know your "WHY"

Why are you starting a business?

This is one of the most important questions you can answer, because the answer will determine how much energy and commitment you will have to getting it done.  Your why has to be tied to your emotions - that is the fuel of life.  That is what will sustain you when things go wrong (and they will ...) and when the challenges begin to increase, whether it is time management, organization, finances, or a host of other issues with which business owners, new or seasons, must contend.

How big is your why?

Your 'why' is your vision, your future, your reason for being on this planet.  It may your family - it may be fame - it needs to be something that emotionally charges you.

Many people jump into starting a business out of desperation.  This will give you initial energy, but it won't last for the long haul.  You may need to dig deep to find your why.  Here is a video that can help you with the process:

Creating an extraordinary vision!
More to come!

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