Happy Independence Day!
Posted by PointA_PointB on July 4, 2010
Happy Independence Day! As I look at my calendar, I realize that I am celebrating Week 9 of my “Escape from Cubicle Nation.” Thank you so much Pamela Slim for coming up with that apt description. http://www.escapefromcubiclenation.com/
June was challenging in that I promised myself and my coach that I would finally finish my business plan. (Consequently, my blog was neglected much of June.) My friend Paul has had his own business for more than 10 years and really pushed the issue saying that writing a business plan was a valuable exercise and that he was glad he did one and found it very useful. It was a valuable exercise but it took me much longer than the two weeks he said it would take. I am grateful that he kept asking about it and volunteering to read it or I probably never would have gotten it done.
In the process I learned a lot about the service and product mix I want to offer, the timing of expenses, and how revenue needs to come in to cover my expenses. I also was able to create visions for my business in the near term and over time, which are a little different. I have written business plans for other people over the years and always thought they were kind of BS – but writing your own plan for a business you care about is a very different experience and I highly recommend that you take the time if you are looking to start your own business. Start-up expenses will probably be more than you anticipate (even if you believe you have thought of everything like I did) and it will probably take longer than you think to build a steady revenue stream. And I do recommend that you approach it the way Pamela Slim suggests. First you create a “life plan” where you clearly define what your ideal life situation looks like and then you create a business plan that can support your ideal life vision. A business plan that supports someone else’s vision of your life is useless and will probably doom your business to failure. My business plan had to support my belief in the global mobile lifestyle. I can work from any location that has reliable high-speed Internet.
Hope you are having great weather, enjoying family and friends, and maybe even eating a little barbecue.