Most of us like the idea of being an entrepreneur. The idea of working for ourselves, being out of the hand of bossed. What most of us do not go into is having a plan for your business. Most of us just get into businesses without a good road map of where they are going, without having a clear idea of what they would like happen to their business and anything that happens is a positive result. I am going to challenge you about having a good road map for your business in today’s episode.
I will be the first one to admit to you that for all the seven business I have started, I didn’t have a plan for all of them. I started some on the side, just to get something to do. I started other big ones with lots of debts without any plan of how the business was going to play out. I have learnt several lessons from that and I will share them with you today and hopefully you will learn from the experiences, mistakes and successes of other people.
The major lesson of which I would like us to make the theme of the day is that if you do not have a destination in mind, any road will take you where you want to go. If you do not have a destination in mind, any road will be good enough for you. If you take that logic in running your business, you will find out that you will just be taking whatever road that presents itself. However, without a plan or a known destination mind, the probability of being successful is going to be reduced. It is also important to understand that your definition will also in the same way determine your probability of becoming successful in your business venture. However, if you have reasonable goals built with the SMART acronym, it is possible to grow your business that way. The great thing about having this plan and knowing where you want to go is that it actually helps you make decisions. Knowing what your goal is and having a good road map for your business will give you the clarity and confidence to make decisions that helps you move positively towards that goal.
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Do you have a good road map for the direction that you’re going? Or you just created your business and you got some far off idea what you’d like to see happen but you know what? Anything that happens has a positive result. I’m going to challenge you on that today on this episode of 7 Minutes in the Morning, stay tuned.
Hey there folks, good morning and welcome. My name is Thom Rigsby from thomrigsby.com and this is 7 Minutes in the Morning. It’s your daily dose from me, your Business Coach. I want to take a chance today to talk to you about having a road map. A lot of us like the idea of having a business, we like the idea of working for ourselves, being out from under the thumb of a man, being an entrepreneur. But we don’t really going into it having a plan. As a lot of you know and I’ve shared my story a lot here through the podcast, this is my 7th business that I’ve started. I’ll be the first one to admit to you, I haven’t had a plan for all of them. I was just like you. I just, I wanted, I started on the side, I wanted a little business to have something to do. I even started some big businesses with lots of debt and lots of money and didn’t really have a plan for how that business was going to play out. It’s one of the things that I’ve learnt, and hopefully you can learn from the experiences and mistakes and the successes of other people. That’s one reason why I share them with you here on the podcast. If you don’t have a plan and if you don’t have a destination in mind, any road will take you there. That’s our theme for the day.
Without a destination, any road will take you where you want to go. This really comes from Alice in Wonderland, where she’s asking the treasure cat which road she should take. He says where do you want to go? And she says, I don’t know, anyway from here. He said, well then any road should be good enough. If you apply that same logic to running your business, then
what you’re going to find out is that you’re just taking whatever road presents itself. Without a plan, without a known destination in mind, without some intentional direction and leadership, the probability that you’re going to be successful is decreased.
We also have to understand that success is often the meaning your definition of success is going to dictate the probability of you being successful also. If you’re starting from nothing and you want a billion dollar business next year, and that’s your definition of success, let’s just say you’re going to be challenged with that. If you have some reasonable goals about using the SMART acronym, then it is possible that you can roll your business that way. The great thing about having this plan, and knowing where you want to go is, it actually helps you make decisions. A lot of times as business owners we are faced with this question, I don’t know when should I…should I sign the three year lease or a ten year lease? The ten year lease is cheaper and God knows I could use cheaper right now. I don’t know, you’re planning on your business being around for 10 years? Is it going to be in this location for 10 years? Who knows? Is that a smart thing to do? It really depends on you and your situation. But you have to know what that goal is, if you don’t what your goal for 10 years from now is, I would tell you absolutely not, not in a hundred years you don’t want to sign a 10 year lease. Understand what you’re goals are, understand what your road map is, and then that would give you the clarity and the confidence to make decisions that help you move positively toward that goal.
It’s a little bit shorter show today, I’m actually on the road again and recording this in the hotel room. I hope that this has helped; if it has I’d love to hear from you, this or any topic this week. Send me an e-mail or you know what? I’d love to get some topics and questions from you that we can build shows around also. In either case, send those e-mails to email@example.com. Love to hear from you. I’d love to get your feedback and work some of that in the upcoming episodes. You can find me on Twitter at Thom Rigsby and you can find me on Face book, its facebook.com/thomrigsbycoaching. It is Friday so as usual, I’d like to remind you, be sure and get some rest this week, be present, be generous, be engaged in the relationships that are important to you. It doesn’t have to be on the weekend, that should be all the time but that’s when they are looking for you to be present and engaged as well. If you do have to work this weekend, I hope it’s profitable for you and that things go well. That’s it for this week on 7 Minutes in the Morning. We’ll be back on Monday with a brand new set of shows. Until then, remember knowing is not enough. Success requires action. Write your action for this weekend, work on that plan, understand where you’re going so you’ll know how to get there. I’ll be back on Monday. Till then my name is Thom Rigsby, I’m your Business Coach.