Keep reading and you will see how we developed it.
Posted: Mon Dec 23, 2024 8:18 am
Nowadays there is a lot of talk about being an entrepreneur, a businessman, your own boss, etc. In this article I am going to give you some simple and practical keys to running your business.
There is a very simple tool called the “PLANNING STAR” that lays out the foundations along with a SWOT matrix to determine whether your business idea can be profitable.
The Planning Star helps you get started
Answer the following questions:
What am I going to do?
The first thing is to have a business idea, for this it is important to answer: what I know how to do, what I am good at doing; what skills I have, my work experience, even my hobby can become my future business idea.
At this point the “SWOT matrix” can help you:
Weaknesses : what I need to improve and what measures I will take to improve and even eliminate those weaknesses.
Strengths : everything that I am good at doing or those innate skills that I have and that I can enhance and develop, we are going to maximize the strengths because they can be your basis for carrying out the “value proposition of your business” .
Threats : These are external and affect you directly or indirectly. You cannot avoid them, but you can propose actions in the following point that will help you minimize them as much as possible.
And finally, Opportunities : search, research, train and inform yourself, follow people on social networks who have a business like the one you want to start and who are doing well, learn and be humble enough to accept mistakes, it is the only way to remedy them.
Once I have decided on the business idea, I give it a title and a brief description of what I am going to plan.
So that?
Make a description of the objectives you want to achieve. The acronym SMART (Specific, measurable, achievable, relevant, time-oriented) can help you.
It is essential to write them down, to write them in the infinitive, in a realistic and positive way; in the short, medium and long term.
“STOP THINKING AND TAKE THE FIRST STEP, TAKE ACTION …. EMPOWER YOURSELF.”
Because?
It is the justification of your project, the reasons that lead you t kuwait whatsapp number list o develop this project.
Be careful! If the business idea is not viable at this point, do not proceed.
Where?
The action strategies will be different depending on whether it is carried out online or physically.
If it is online: the territory you are going to cover, countries, languages and the type of audience you are going to address.
If it is a business that requires a physical premises, finding the right area and location can be the key to your success. The area is not what suits us but where your potential clients are.
self-employed person carrying out his entrepreneurial plan
As?
This is the most important point of all and the longest. Here you must specify the actions you are going to take to achieve the proposed objectives. It is a strategic action plan, you must materialize your ideas, how you are going to stand out from the competition or how to attract your target (potential clients).
When?
We will set a date to start the activity, and the fulfillment of the objectives proposed above will help us achieve it. During this process, you will monitor the fulfillment of the actions, which will allow you to detect possible deviations from your project and implement corrective measures in time, before they become irremediable.
We will also realize through the control of the actions that some of the proposed objectives are not achievable or realistic, this is the time to remedy it and redefine the objectives that are not in line with our strategic plan.
How much?
It is the key to knowing what the start of YOUR BUSINESS will mean for you financially, both at the economic level and in terms of human resources expenditure to launch the project.
These are some simple tools that will serve as a guide for your business. In the next article I will give you the keys to how to create a VALUE PROPOSITION , which will make you stand out from the competition; stand out in the market, you will learn to get the most out of your product and make it known to the market, which will allow you to create a niche for yourself within this current macro market in which we operate.
Go ahead and start looking for YOUR BUSINESS IDEA. If you need help to execute it, at Cursos Femxa we can help you with social entrepreneurship courses , which introduce you to a new way of bringing your idea forward.
There is a very simple tool called the “PLANNING STAR” that lays out the foundations along with a SWOT matrix to determine whether your business idea can be profitable.
The Planning Star helps you get started
Answer the following questions:
What am I going to do?
The first thing is to have a business idea, for this it is important to answer: what I know how to do, what I am good at doing; what skills I have, my work experience, even my hobby can become my future business idea.
At this point the “SWOT matrix” can help you:
Weaknesses : what I need to improve and what measures I will take to improve and even eliminate those weaknesses.
Strengths : everything that I am good at doing or those innate skills that I have and that I can enhance and develop, we are going to maximize the strengths because they can be your basis for carrying out the “value proposition of your business” .
Threats : These are external and affect you directly or indirectly. You cannot avoid them, but you can propose actions in the following point that will help you minimize them as much as possible.
And finally, Opportunities : search, research, train and inform yourself, follow people on social networks who have a business like the one you want to start and who are doing well, learn and be humble enough to accept mistakes, it is the only way to remedy them.
Once I have decided on the business idea, I give it a title and a brief description of what I am going to plan.
So that?
Make a description of the objectives you want to achieve. The acronym SMART (Specific, measurable, achievable, relevant, time-oriented) can help you.
It is essential to write them down, to write them in the infinitive, in a realistic and positive way; in the short, medium and long term.
“STOP THINKING AND TAKE THE FIRST STEP, TAKE ACTION …. EMPOWER YOURSELF.”
Because?
It is the justification of your project, the reasons that lead you t kuwait whatsapp number list o develop this project.
Be careful! If the business idea is not viable at this point, do not proceed.
Where?
The action strategies will be different depending on whether it is carried out online or physically.
If it is online: the territory you are going to cover, countries, languages and the type of audience you are going to address.
If it is a business that requires a physical premises, finding the right area and location can be the key to your success. The area is not what suits us but where your potential clients are.
self-employed person carrying out his entrepreneurial plan
As?
This is the most important point of all and the longest. Here you must specify the actions you are going to take to achieve the proposed objectives. It is a strategic action plan, you must materialize your ideas, how you are going to stand out from the competition or how to attract your target (potential clients).
When?
We will set a date to start the activity, and the fulfillment of the objectives proposed above will help us achieve it. During this process, you will monitor the fulfillment of the actions, which will allow you to detect possible deviations from your project and implement corrective measures in time, before they become irremediable.
We will also realize through the control of the actions that some of the proposed objectives are not achievable or realistic, this is the time to remedy it and redefine the objectives that are not in line with our strategic plan.
How much?
It is the key to knowing what the start of YOUR BUSINESS will mean for you financially, both at the economic level and in terms of human resources expenditure to launch the project.
These are some simple tools that will serve as a guide for your business. In the next article I will give you the keys to how to create a VALUE PROPOSITION , which will make you stand out from the competition; stand out in the market, you will learn to get the most out of your product and make it known to the market, which will allow you to create a niche for yourself within this current macro market in which we operate.
Go ahead and start looking for YOUR BUSINESS IDEA. If you need help to execute it, at Cursos Femxa we can help you with social entrepreneurship courses , which introduce you to a new way of bringing your idea forward.