What I am discovering is that the devil is in the details. Without understanding the details of your business or hiring people who understand those details you are doomed to failure. I realized this when I was being asked questions about my market, what my competition was doing and pricing comparisons between myself and others. I knew everything I needed to know about my business but nothing about the environment where it would work. It was humbling but necessary.So I am back to the drawing board with my business plan and spending a little more time doing research on where I fit in on the business food chain. I suppose by sweating the details now I can enjoy better sales in the future.
Tuesday, August 2, 2011
Its All About the Business Plan.
As I stumble into the world of entrepreneurship, I have learned a lot about myself and business. I have also learned how much work goes into a business before a single sale is made. I put together a board of directors to help me avoid dangerous mistakes and they also helped me put together a primitive business plan. For those Type-A personalities, the purpose of writing a business plan seems foolish; you have a product and sell that product to others. The rest is just details.