Starting a business is no small undertaking. Every month thousands of people endeavor to take their idea and turn it into a real business. There are distinct reasons why some businesses survive & thrive and others fail.
The above video is an excerpt from Earl Boyd’s presentation, “Getting Your Idea to Fly”.
To recap, there were "5" primary reasons that start up businesses don’t make it. They are:
- Inadequate planning
- Inadequate research
- Under resourced
- Unprepared Owner
- Wrong Process
Successful businesses follow a process that is tested and proven to get results. This is why a 17 year old can effectively run/manage a multi-million dollar McDonalds franchise; there is a proven process or system to follow.
A business process is designed to answer 3 questions: (1) What to do, (2) when to do it and (3) how to do it.
Moreover, planning and research are 2 keys to avoiding the pitfalls that lead to failure. Unfortunately they are also two steps most often overlooked by new entrepreneurs.
Just having a good idea/concept and possessing the willingness to work hard by themselves in not enough.
In the 5 Step Business Start® system, these initial steps are covered in great detail. Asking the right questions at the right time, gives you the knowledge needed to guide you through the process giving you the answers you need to vett business idea.
In Module 1 & Module 2 you learn how to describe your business in "business terms" and discover through the research process if your idea is viable and what you need to do to "get it fly".
Why waste valuable time and resources pursuing a path that will not produce the results you want.