Pre-Planning Your Business Idea
“By failing to prepare, you are preparing to fail.” – Benjamin Franklin
If you’re thinking of setting up a business, you should do enough pre-planning, but not too much!
The real key to pre-planning is to do enough to ensure that the idea is sound, be clear on what you are going to do, how you are going to do it and how quickly you will act. First convince yourself that you have a viable concept, a strong business and the determination to see things through!
Test your pre-planning business model
It is a great idea to have people to test your initial thoughts against, people who have succeeded in writing successful business plans and then launching and operating against them.
An experienced eye will spot the ‘over ambitious plan’ or any misconceptions in that all important cash flow plan.
Here at Yorkshire Powerhouse, we encourage you to ‘do a plan’, ‘half the sales’, ‘double the time’, ‘treble the costs’ and then check if you can survive! It is a real sound approach and one based on the actual reality of running a business – too many new start businesses fail because they simply ignored warning signs or potential issues at this stage.
Within this ‘pre-planning section’ you can find out more on your business idea, whether you are suitable to be an entrepreneur, how to seek out support and how to check and research the market.
Remember to take advantage of our FREE business plan templates and subscribe to our newsletter to keep informed and up to date.
Create a one page business plan in pictures more than words, it’ll tell a story you’ll come back to. If you can’t get it all on one page you’re over thinking at this stage!
Pre-planning thoughts from Yorkshire Powerhouse
Now you’ve read the article – have you any more questions?
Here at Yorkshire Powerhouse, we’re happy to help as much as possible – is there anything else we can do to help you or do you have any further questions – please let us know:
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