When launching your business, there are many steps to take and if you aren't careful and don't plan things out first, your odds of failure are much higher. That's why it's extremely important to write out a plan first before starting your business.

Starting a business, of any size, is no small feat and should be treated as such. There are so many entrepreneurs that are excited about their products or services they have to offer (and they should be!) that they dive right into opening up the business without really taking the time to carefully execute a plan.

Writing out a plan for your business is no different than planning anything else if life. For example, when you book a vacation, you plan out where you’re going, what sites you’ll visit, best places to eat, and you’ll even have a check-list (plan) of items that you’re pack away to take with you. We’re constantly writing out lists and plans that it’s become second nature to us and we don’t really think about it, we just do it—either consciously or subconsciously. It’s no different than writing out a plan for a business.

Things to consider.

You’ll need to consider all of the different aspects of your business like:

• Finances

• Vendors

• Online presence

• Marketing

• Payment processor

• Software tools

• Logistics

These will vary depending on the type of business you’ll be opening, for example, a physical retail location’s needs will be different than if you only had an online store. Each has its own challenges, but I encourage you to write things out…no matter how messy it may get. Write it out on paper first (or on the cloud) and see where your gaps, strong points, and weaknesses are.

Are you a planner? Do you write things out first before taking action? Drop a comment.

xo,

Feuna