Do you have a business strategy plan? Everyone who starts a business is a visionary of sorts. How else would we be able to face the daunting challenge of creating something out of nothing? Not everyone succeeds. What separates those whose visions culminate in viable businesses from those whose hopes and dreams crumble is perhaps the ability to dream realistically.
4 Questions to Ask About Your Vision
Here are three questions to ask yourself about your business vision and your ability to dream realistically.
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1. Is your hope income goal reasonable? It is not realistic for a memoir practitioner to expect to earn $500,000 a year. There is a limit to how much one can charge per hour. The volume of work to earn $500,000 would be too great to accomplish. It is realistic however for a person to aspire to earn $100,000.
2. Are you prepared to market your business? Too many memoir professionals spend their time developing books, curriculum, and other didactic materials and ignore the marketing tasks so necessary to develop their companies. It is not true that, if you have good products, the market will find you. It just doesn’t work that way. For the public to know about you, you must market.
3. Are you prepared to do the record keeping it takes to keep a company running? Record keeping of finances will tell you if you are earning money or not. Record keeping of contacts with potential clients and of turn-over rates into clients will help you to create marketing plans. The record keeping lists go on and on. Without proper records, you cannot maintain or grow your company.
4. Are you prepared to learn what you don’t know about running a company? This includes skills in the areas of the computer, marketing, and management. This information is available in workshops, tele-classes, coaching, variously on the internet, in books, and through analyzing your records.
I do not believe that one is born as a business person. It is possible for anyone with a vision to create a successful business–but it takes discipline and knowledge.
Implementing Ideas Into a Business Strategy Plan
A memoir professional can know all about what a company owner ought to do to run an efficient, lucrative company but be unable to translate those ideas into daily activities. Here are some ways to do so:
1. Ask yourself the “what’s the one thing I can do today” question to grow your company. You know you need to be looking for new clients to replace existing clients who slip away. You look at all the possibilities and feel overwhelmed. Where to start? Well, instead of being overwhelmed ask yourself: What is ONE THING I can do today to find new clients? Not even the BEST thing but ONE thing. (Eventually, you may understand what, at any time, is the best thing for you but, for now, doing something is a whole lot better than doing nothing. For now, do one thing. One thing a day for one month adds up to a lot of marketing!
2. Create an income goal for the year and break it down into monthly, weekly and daily figures. Every day, ask yourself if you are meeting this goal. If you are not, what ONE thing can you do today to achieve your income figure? People who allow themselves to be driven by their bottom lines end up being incredibly creative at implementing ideas into practice. By Wednesday of any week, begin to reorganize your week’s to-do list to emphasize activities that will earn the income you need to earn by that Friday afternoon.
3. Are you working from a business strategy plan? The adage is as true now as it ever was: “Those who fail to plan are planning to fail.” By working from a written business strategy plan, you will increase the amount of effective work you can accomplish in a given amount of time, your focus on essential work to grow your bottom line, and ultimately, of course, your bottom line. A business strategy plan need not be complicated. Think of it as simply as a definition of what success will look like (expressed in an income figure) and an outline of what you need to do to earn that income and a breakdown of activities that will support each of the goals in your outline. A plan can be handwritten on a single page or be a fancy formatted version. It doesn’t matter. What matters is that it be written and be clear as to what you need to do.
These are a few basic strategies to follow to implement theory into practice and thus increase your viability as a memoir company.