Smart strategies for a startup

Section 3 : Establish your action plan

When it comes to launching a startup business, planning is everything. Unfortunately, a number of people who start a business underestimate the time and effort needed to make it a success or they make the mistake of planning only up until the launch of the business. Those who achieve success look further into the future. When writing up your plan of action, create a detailed list of exactly what you want to accomplish within three key categories:

1. Each month for the first six months
2. Each quarter for Q3 and Q4
3. Each year for year two and year three 

Your business start-up plan could look something like this:

• Month 1: Create the business website
• Month 2: Conduct market research
• Month 3: Come up with specific products or services
• Month 4: Engage outside help
• Month 5: Start advertising
• Month 6: Start production
  
  
• 3rd quarter: Make x number of phone calls or send x number of emails per week in search of customers
• 4th quarter – Solidify 100 keen customers
• Year 2: Turn a profit
• Year 3: Expand your customer base and range of products or services

By having a clear and thorough plan of what your progress should look like, you not only motivate yourself towards these goals, but you also highlight whether extra time or resources are needed. 

If you find yourself exceeding goals, set your sights even higher. Remember, a good startup plan can be adapted along the way. Unfortunately, a number of people who start businesses severely underestimate the time and dedication needed to make a business succeed. By creating an action plan, you ensure that everyone knows exactly what must be achieved step-by-step from day one.