RESEARCH TRIANGLE PARK, N.C. ( MainStreet) -- When striving for success, it is necessary to know precisely what you want to achieve so you know where to aim your efforts. If there aren't specific, measurable goals, how can you know you're moving toward them?When planning for success, and particularly success in business, it's important that everything be completely thought through before spending time and money. Plans should be grounded in real information and not based on how you want them to work. When planning for business success, think about the following:
|The cost of not having a well-thought out and validated plan may be much more than you can afford.|
- Research and read information on how to start a business and market your business, self and products, sales, and other areas in which you do not have direct experience.
- Define precisely what it is you will be selling and to whom you will sell it.
- Understand what your customer will be buying from you and why. A product, an idea, a solution to a problem, a mindset, a status symbol ... what?
- Determine how and where you will be delivering to the customer.
- Identify potential sources of workers, supplies and manufacturing and production.
- Know what equipment you need and be clear on "need" versus "nice to have" or "really want ... but don't really need."
- Budget, budget, budget!
- Validate your plan, assumptions and financial estimates
- Talk to experienced entrepreneurs, colleagues and potential customers to find out more about the marketplace and business tactics.
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