3 Steps to Start your Business Without a Business Plan
My neighbour’s coffee maker, the cold winter weather and some grit was all the capital I needed to start making some extra cash during winter recess and within 3 days I had made double the amount I had used to buy the inventory for the sales.
With all the current social media buzz about people who are successful and out there getting bug contracts and having bug companies we sometimes think that we need an elaborate business plan and big ideas with big financiers in order to be entrepreneurs, while really all we need is our imagination and a little bit of positivity with a whole lot of patience to start a business and see profits almost immediately.
Here’s my how to guide on starting a business without a business plan and with little to no resources:
1. write down all the business ideas you have
It doesn’t matter how far-fetched they may be or how ‘stupid’ you think they are, just jot down everything that pops into your mind. To have an even wider pool of ideas ask your friends and family what services or products they wished would be improved or were more convenient or available to them that they really need.
2. Select a few ideas from the ones on your list
For each selection, list reasons on why you have selected them and use those reasons to identify which one can be implemented immediately without having to look outside your immediate surroundings for assistance or any other form of help.
3. Implement the idea that you have selected
Market your idea and use this start-up opportunity to make connections with your customers and potential investors. This model works the same as how we usually start a lemonade stand business-not paperwork, no business plans, just some lemonade to cool you down.
Using the quick start up method gives you the easy way out because firstly you will not feel that you have put in too much should you wish to pursue other business avenues. Although you may operate for a little while make sure you give it your all as good customer interaction means good interpersonal skills and this will affect your networking abilities in a positive way. Word of mouth is still very relevant and important, plus you will also feel more accomplished as an individual knowing that you have provided the best service you could possibly give.
If you wish to pursue the business for a longer or indefinite period you will be required to register it at some point and also will need to improve on your skills and expertise and may also have to invest in a business plan so as to be able to get investors and other forms of finance should you not be able to finance it on your own.
But all in all a entrepreneurship is all about taking risks but it doesn’t really matter how small you start as long you have started. After all the journey of a thousand miles begins with a single step.