With the New Year brings beautiful intentions and new aspirations. This year I see many of my friends have been working on their vision boards. Which is an awesome exercise in goal setting and visualization. Whether you are an inspiring entrepreneur or have been in business for the last 20 years it’s never too early or too late to revisit the critical business document.
Taking a lesson as someone who was noted at one point in time as one of the richest men in the world Carlos Slim Helu says in an interview with Larry King gives the following 11 pointers:
1. Building a successful business is all about competence
2. Understand your line of business and its numbers
3. Becoming a successful entrepreneur is all about responsibility
4. Be driven by passion; not money
5. Concentrate on your core competence. Be focused
6. Get in when others are getting out
7. Always be prepared to make your big move
8. Give back to the society
9. Watch your expenses
10. Reinvest, Reinvest, Reinvest
11. See opportunities, not problems
In this Youtue video Richard Branson discusses the importance of using entrepreneurship to serve the world. Richard Branson has also shares on Virgin Entrepreneur to not forget the details. The article that he is mentioned in discusses the power of the small details in your business plan. He says to think of your business plan as a “blank canvas and you’re filling in that canvas, trying to get every single detail right. The grand picture is only as good as all those little details.”
Your business plan is a living document and as you grow and develop so should your business plan. This year I want to encourage us to be more than the superficial student and become more profound in our preparation. This month my focus is on watching my expenses, restructuring my own business models so as to make sure that I can reinvest in ways that will produce the greatest future gains.
To the Lessons Learned, your profitable business and a prosperous 2016Cheers!
Do you have a business plan? When is the last time you’ve revisited your business plan? If not why haven’t you started?
P.P.S. Thank you in advance for sharing this post - Also let me know about your next event and exciting opportunity and leave your comments and questions below. I just may answer your question in my next post. I'm also available for consultations to help get your business plan started.