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Just Starting With SFI

If you are just beginning here with SFI my recommendation is to have.......

"STARTUP PLAN"

Why ? Whether you're starting a retail business in a strip mall or building a virtual business online, many of the fundamentals are the same and the principles for a successful startup apply. You must begin with what I call a "Startup Plan." A Startup Plan is basically the list of everything that must happen to get the business up and running from the initial idea, marketing and advertising to managing growth and on and on. A Startup Plan is not as detailed as a business plan. It is essentially the "to do" list for starting a business, though it is every bit as important as a business plan because the Startup Plan serves as the blueprint for getting the business up and running. Trying to launch a business without a Startup Plan is like taking a trip along a curvy, mountain road without a map, driving at high speeds, while wearing a blindfold.

You will eventually arrive at some destination, but it's likely to not be the destination you had in mind and your trip will be anything but smooth.

I always create my Startup Plans with a simple spreadsheet and build out from there.

Start by simply listing everything that you can think of that must be done to launch the business. Once you have the list break down each task into individual action items. A task without a deadline will not get done.

You'll also work many of these tasks simultaneously, not just as they are listed. Once you start working through your Startup Plan the tasks tend to prioritize themselves. Just be flexible and realistic.

Now that you have your Startup Plan go to each task and flesh it out by listing the subtasks that must be completed.

The target completion date (be realistic about completion dates; nothing ever happens on schedule).

For example, #1 on any Startup Plan should always be " market research on your business idea." This is the most important task you will complete because the results of your market research will tell you whether to "go or no go" on the business idea.

For now, let's break market research down into subtasks.

To complete your market research you must decide by what date will the findings be ready.

Fortunately, doing market research has never been easier thanks to the Internet and the numerous organizations and associations who will provide you with much of the data you need to make a sound decision.

As with most steps on your Startup Plan there can be a number of subtasks that must be taken care of before you can mark a task off your list.

Managing these tasks to completion is the key to a successful startup.

The Startup Plan is not only a great way to keep up with everything that must be done to start a business, but also to remind yourself of the little things that might fall through the crack.

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Description

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