4 of 4

Write now Article Tools

Page 2 of 2

assets will be enthusiasm about what you are doing, and absolute knowledge about your product. If you are not going to have fun, change your plan.

7. The money belongs to the company, not you. Pay the company bills including your salary first and think hard if you decide to take more for yourself.

8. If the company income is linked directly to the number of hours that you can work then you can readily project the maximum possible cash flow. It will also be apparent that you do not have either a business plan or a business, but a job.

9. Pat every one of your employees on the head every day, even if you do not have time and they really do not deserve it. (So, pat them on the head a lot, or fire them).

10. Remember that your employees are just that and not your friends. Give them clear instructions about what their jobs are and make sure that they do them. Your job as a business owner is running a business, not being a cabinetmaker, or an artisan.

11. Use mistakes as guides because you will make many mistakes and you must waste nothing if it can help you.

12. Stepping outside and looking at your business is difficult. Venture Capitalists ask the most interesting questions, and this is perhaps more use than getting funded in the early stages.

Next time that you are talking about your goals and dreams to anyone, and say that you want to start a business, and they say "Do you have a business Plan?" your answer should be "Yes I do".

If you cannot say yes to that question, then you are either just a dreamer, or you need to be at your desk writing it instead of sitting around talking about it. There are lots of products on the market about how to write a business plan. Companies selling these products are businesses too, so remember that this first plan is just for you and content is far more important than format. Write a plan before you start racking up deductible expenses and thinking of reasons why you cannot do it now.
Making a list of chapter headings is a good way to start. Within each chapter add paragraph titles and then expand each one. If you are stuck on one paragraph move on to others.
It is the most satisfying feeling in the world to be successful at running your own business, using your own skills, and making your own decisions. This can make you truly free. Make sure that you pay yourself every month. Stick to your plan and if that does not work then change the plan rather than throwing it away.

I wish you the best of luck, and success.

Paul Wyatt

Tuesday, January 23, 2007.
Paul Wyatt 2006

Learn more about this author, Paul Wyatt.
Click here to send this author comments or questions.

• << previous page
• 1
• 2

Add your voice

Know something about Tips on generating a successful business plan?
We want to hear your view. Write now!