Ready, Set, Grow: 7 Simple Steps for Business Start-ups

If you’re an entrepreneur with a million ideas, you probably don’t have the time to complete a 15-page business plan with 3 appendices for each great idea that comes to mind.  In time, every great idea is worth pursuing.  But sometimes, a particular idea will cause you to lose focus.  So, I want to share an exercise with you that always helps me to decide in 2 minutes, whether my hair-brained ideas are part of my next steps.  Before I run my idea through the B-I Triangle to come up with a short, solid business plan, I view it from the following perspectives: 

1. Transparency
   How does this idea reflect my vision?  Will this plan help me to zoom in on a part of my vision?  Or is this plan so concrete that it obstructs my vision for the future?
2. Knowledge
   Have I done enough research to sit down and write a plan?  Excitement leads visionaries to go forward with ideas that have more holes than a golf course.  As the king of hair-brained ideas, I find that many ideas are not mature enough to map out. 
3. Structure
   What type of structure would it have?  Remember, great ideas require solid structure. To give structure to my ideas, I think about the sequence.  What happens first?  Second? Tenth?  Sequencing your vision is a constant process of prioritizing – or pulling the next most important thing out of your big picture. Steve Pavlina’s article, How to Prioritize, gives excellent insight on setting priorities using the CARVER Method. 
4. Flexible
   How can my idea match what my clients and customers need?  Transparent structure allows your idea to grow organically as you consider feedback from advisors, team members, clients and customers. Combine transparency, structure and flexibility to crystallize your idea.
5. Timing
   What is the best time to move forward with this idea?  Timing will either be your best friend or worst nightmare.  If you move forward with an idea, make sure you have the cash flow to support it until you generate enough sales for it to support itself. Time is money. 
6. Tangency
   Is this idea an extension of something I already do?  When you see so much opportunity, you can easily think that each one has your name on it.  And they all may be your opportunities – but not at this particular time.  Here is a way to help you figure it out: if your idea or opportunity is closely related to something that you do now, it may be time to expand your horizon and explore that tangency.
7. Momentum
   How have I already built momentum?  Last year, my business made a turn from music to consultancy.  I had built momentum in a different direction and had not realized it, causing the need for me to catch up with my own business.  Building momentum is tough but when business starts rolling, it will take turns that surprise you. 

You can apply these 7 perspectives to your next ideas.  The questions above will lead you to discover the feasibility of your great idea without wasting valuable time. 

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