Is the enormity of the business planning process keeping you from launching your business idea out of fear of failure or financial loss if you are not successful? If so, you are not alone. Learn to take baby steps to get the tacit knowledge you will need to be successful.
While a physical business plan will increase your odds of success, it is the knowledge you gain in all facets of business that will ultimately help you achieve business success.
Evil Knievel (the motorcycle daredevil) didn’t start out jumping over nineteen cars on his first attempt. He started with one car, then two, and so on. Occasionally he crashed along the way, learned from his mistakes, and attempted the jump again. Eventually, he built up to nineteen cars, a record he held for twenty-seven years.
When it comes to learning about business start with a side-hustle first before you go for broke with your big idea. Start a retail arbitrage business where you buy overstock items and use Amazon fulfillment to sell them to learn about eCommerce and cash flow. Or become a freelance writer or a virtual assistant to learn how to market yourself on gig websites like Upwork or Fiverr. Side-hustles are low-cost/low-risk ways to learn about business.
I was an Invisible Fencing dealer while I worked a full-time job and wrote my business plan for my big leap into business starting a documentation and training company. I lost my Invisible Fencing business but learn a lot about sales and marketing that made my documentation and training business a success.
So before you launch your full-time business take a few baby steps to learn the tacit knowledge you will need to become successful with a full-time business.
Related Post: Buy Four Green Houses Before You Buy a Red Hotel
How can you break down your business ambitions into smaller baby steps?
IF YOU LIKE OUR CONTENT PLEASE SUBSCRIBE AND SHARE IT ON YOUR SOCIAL MEDIA CHANNELS. THANK YOU!