Business Plan Template

Weakest one-word business plan: “Someday.”

Business Plan Example

Are you a real entrepreneur or just a dreamer? Don’t worry, in this post I’ll tell you how to get your ass out of that “dreamer” mode.

I know of so many people who either believe they’re kick-ass entrepreneurs or people who are regarded by friends as good entrepreneurs, just because they have “great ideas” or “grand plans.”

But how many of us have actually take even small steps of action to bring us closer to our success? If you’re still in the “dreamer” mode, I don’t mean to put you down.  Been there, done that.  Before I became a successful entrepreneur in my own small way, I too was just a dreamer; but eventually I took action in the real world (actually social media world) instead of just leaving it “up there” in my dreams.

Now, I UNDERSTAND why you may not have started yet.

1) You’re a procrastinator and refuse to change. (I can’t help you with this).

2) You’re a procrastinator but you’re willing to change. (Read on.)

3) You don’t have the time right now. (Read on.)

4) You don’t have the capital needed right now. (Read on.)

5) You don’t like hard work. (Neither do I, and you DON’T need to; read on!)

Of course, if you’re a procrastinator, you have to ask yourself WHY?

Let’s skip #1 (since I can’t help with that) & go to #2:

Believe it or not, I was a procrastinator and discovered that my reason was that I was/am a PERFECTIONIST.  A big chunk of procrastinators actually aren’t lazy.  They simply can’t start because they can’t stop worrying about the *perfect* way to start.  If this is you (it was me), then the solution is simple; choose to start even if you’re not starting perfectly.  Then you can go into “continuous improvement” mode later on and still achieve perfection.

#3: I don’t have the time right now.

Hey, I hear you; and I’m not faulting you for that.  But you gotta ask yourself, is it really that you don’t have the time or are you just using the “no time excuse?”  Will this “don’t have the time” excuse drag on forever or until your retirement?  And will you end up just a retired failure?

I DO have a solution.  Surely, even if you “don’t have the time” right now, you can spare 5 minutes a day? Or maybe even just ONE minute? Heck, you’re spending around 5 minutes just reading my post right now!

Well, this is what I want you to do in your precious 5 minutes (or even 1 minute) per day: Do any (and I mean any) TANGIBLE action to bring you closer to your entrepreneurial dream.  It could be as simple as writing down a rough biz plan on a paper napkin.  Or maybe just a rough budget of startup costs.  ANYTHING. But it must be TANGIBLE (like writing it down). If it’s just in your brain, you’re still dangerously close to the “dreamer mode” instead of the action mode.  Eventually, the concrete actions will fire you up enough to take bigger action WITHOUT needing too much “willpower” to get started.  (All the inspirational quotes in the world will not be as motivating as knowing that you’ve already taken and continue to take tangible steps every day, even if tiny.)

#4: I don’t have the capital right now.

Okay, fine.  But again, have you done anything TANGIBLE to help you get closer to having the needed capital?  Did you save even a little money TODAY (not SOMEDAY) to bring you closer to the needed capital?  Did you even make a super rough capital budgeting plan on a paper napkin at the coffee shop (speaking of coffee shop; did you give up your expensive black coffee from an expensive shop and instead make it using the office coffee machine?)  It could be any SMALL thing.. but do something tangible TODAY that brings you closer to your capital requirements.

I’m also writing a book right now which I’ll put on Amazon on how to start an online biz for very small capital, lower than $500 like I did with this website; using Youtube and social media.  But don’t let that be your excuse and say “I’ll wait for David’s book.”  Saving capital, even small, is a good thing. And even if you’re in a tough situation right now and can’t save a penny, you can still draw up your capital budgeting plan on a paper napkin and do other small things like that everyday… which will have a domino effect of its own and make it easier for you to save your capital.

I’ll stop here for today. “#5: You don’t like hard work” deserves a post of it’s own, I believe.  Don’t worry, I’m not gonna be your high school teacher and blame it on you.  Because you really DON’T need constant hard work to be a successful entrep (note that I said “constant”).

Watch out for my next post!

David

 

 

2 Comments

  • Zak

    Reply Reply 21 January 2014

    Great article as usual, David.
    I love the “5minutes a day” advice. I will definitely incorporate this one.
    Personally, my problem is getting bored quickly and running out of ideas.
    I have a small capital to start with, but always prefer to start with a partner which I find difficult to find.
    Sometimes, I feel that I’m lost but then again I start trying to get closer to my dreams.
    Also, my other problem is being unorganized.
    If you have any suggestions/advice, please let me know.
    Cheers,
    Zak

    • David

      Reply Reply 25 January 2014

      @Zak, to avoid getting bored, you can make a business which is related to your passion/hobby/etc. However, it’s not as simple as being passionate about golf (for example) and then setting up a website about golfing news or putting up a golf equipment shop. There are already lots of those and you’ll have lots of competition. The least risky way is to think about what “problems” people may have within the golfing niche, and think of ways to ‘solve’ problems. I believe that if you find a way to SOLVE problems of people and find a way to charge for it, you will *always* have business. Will talk more about that in my upcoming book. Cheers.

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