Do you begin driving your car without a destination in mind? Probably not. Yet many entrepreneurs start a business without a destination. With a complete business vision, you not only will have a complete roadmap your business can follow, but also the measurements you need to determine if you are reaching your business goals along the way.
When I purchased my first business I was fortunate in that I had a mentor who had done it before. He recommended that before I agreed to buy this business, I spend a significant amount of time performing his recommended due diligence. It was a retail business selling cards and gifts, located in a very busy commuter train station. I spent several weeks watching who shopped there, checking out potential competition in the area and questioning other similar store owners to see if they would share their experiences. These steps helped me to strategize on how to grow this business 5 times within the first year of my ownership.
Do you have a business strategy? What is a business strategy? It’s your roadmap of how your business will grow and reach profitability to meet your goals. Your business strategy is a “Roadmap”. There are many components for you to consider when creating your Business Strategic Roadmap.
- What are you selling?
- Who is your competition?
- Can you describe your customer?
- How will your customer know you exist?
- How do you compete against your competition?
- What goals do you want to achieve in your business?
- What measurements will you use to achieve those goals?
- Who is involved in managing your business?
- How will you know when you reached your goals?
- Are your goals meeting your timeframe?
Creating a strategic planning roadmap will give you a greater chance of business success. I’ve done it for 4 of my businesses from purchasing an existing business to the 3 startups the I founded and grew. Whatever your business vision, let me guide and mentor you so your business has a roadmap for success and sustainability.
Sign up for one of my startup visionary workshops and create your roadmap for business success.