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" The first part begins with a reality check and the importance of having a business plan.
The second part deals with how to use the Business Plan and assessing progress, the third step covers adapting your plan and concludes with some encouraging thoughts from an expert who has set up many an online business, and also includes links to some useful government sponsored resources.
Adapt your plan Positive lessons learnt through the experience acquired need to be fully exploited in a timely manner.
For example the business plan may have been to sell red carnations only, but it may be realised that although there is not presently as strong a demand for red carnations as was expected there is a significant demand for potted orchids, which happen to be readily available.
By revisiting the business case periodically, the viability of selling potted orchids initially alongside red carnations can be properly investigated and changes made if appropriate even though this represents a departure from the original business plan.
The testimony of a very successful entrepreneur who has set up many online businesses I read, just yesterday, the testimony of a very successful (and young) Internet entrepreneur, whose name is Kyle.
In it he was talking about his failures, not one but many.
He claimed that he fails frequently and probably more than most.
In fact it is because he fails so often that he is such a successful businessman.
Not all his failures are small, he has lost more money than many people have earned.
The great thing about failure is the learning opportunity that it can and usually does provide.
But it is not just knowledge that one gains, one gains courage and fortitude, because one realises how much one can take, which is often more than one previously thought.
These lessons, that life sometimes teaches us are often invaluable.
It is said that the same sun that melts the butter hardens the clay.
Well there is a similarity here to failure, because the same failure that destroys one, strengthens another.
The difference in outcome is often down to whether we recognise and embrace the learning opportunity or not.
Starting a business, very often presents a significant challenge, but people usually from taking on such challenges, so take on board my caution at the beginning, use all the intelligence, advice and common sense that you can muster and have a go.
I can't resist a quote from Henry Ford here "Anyone who stops learning is old, whether at twenty or eighty.
Anyone who keeps learning stays young.
" Many advisers make victory sure It is good to seek advice from many sources.
In many countries, there are significant small business advisory services, which are often promoted directly or indirectly by the government, since it is very much in a nation's interests, that entrepreneurs be encouraged and helped.
For example, in the US there is the Small Business Administration and in the UK there is the Business Link, both of which provide all sorts of valuable resources and links to prospective entrepreneurs.
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