It’s a great bit of common sense isn’t it?
However I think too many people in the world do try their hand at things that they cannot do so well, in their enthusiasm to succeed. Worse, they carry on like that even in the face of mounting evidence that such an approach is not great for success. While positive thinking is very important so is a realistic and well researched plan. No one should jump into a new business venture without substantial research and strategic analysis. Succeeding in business requires intelligence. It requires a good knowledge of the market in terms of goods, services and demographics. Pivotal aspects such as this should not be overlooked.
I think the recipe for success has only a few ingredients, but it is very important that each one is given its due place and respect. Personally I think that these are, in no particular order, determination, imagination, planning, repetition and perseverance. It can be easy to allow some traits to get ahead of others, say to let determination to become more important than good planning and management. That is never a good idea. Let each one become important in developing your business.
Determination lies at the heart of all our endeavours. Anyone who has been rejected at interview or been turned down for funds will know this feeling well. Far from being beaten by obstacles, the determined business person will get up, dust himself or her off and start again. They are not cowed or beaten by the odds. Imagination is really about vision. Envisage yourself as a multimillionaire business owner. Then apply determination and planning to make it so! Do so repetitively until you hit on a formula for success. Lastly, perseverance. No one succeeded overnight. No matter what setbacks, delays and bureaucracy you have to deal with, you will succeed. Believe in yourself!
A good business plan is not overly complex, but at the same time will help address the challenges posed by the target market and demographics. So think about it…who among your fellow planners has the requisite skills to research and truly comprehend a new market for a set of goods or services. It could be the North of England, or it could be Asia or South America. If you’re better as a thinker than as a doer, then by all means do that. Stick to formulating the business strategy and let others implement. There is no harm in a little delegating. Think about who in your team can deliver your plans to penetrate that market well?
If one is able to show flexibility and an ability to delegate where necessary, then the energy and costs associated with being a ‘one man (or woman) army’ will drop sharply. Business can then become a truly collaborative venture, where one person or group of people can be the brains of an organisation while another can be the logistics, getting things done. The most successful people never gave up, but they also had a plan which reflected their strengths.