By Barbara R at September 02 2019 02:49:30
It's like planning backwards. 1. Determine what you want in life 2. Figure out what your business would need to do to give you that life. 3. Figure out how long it would take you to reach it. 4. Figure out how big of a market it would take each of the years you're planning for. 5. Then see if that market is big enough. Isn't this a much better way to go about planning your business? Shouldn't your business be designed to give you want you want instead of you working yourself to death just hoping for the best? So how would you go about calculating all this?
Be Prepared For Risks _ It is a fact of life that any new business or enterprise has a degree of risk attached to it. Therefore it is important for your business plan to analyse and calculate that risk, showing how you will engage with it. There is no business plan out there that is risk_free, but very often where the risk is higher then the rewards will be as well.