| It is many people's desire to start their own businesses. | | | | rolling out your business. |
| This desire is borne out of the appreciation of the fact | | | | The third step towards starting your new business |
| that it is only by starting your own business that you | | | | enterprise is getting the finance to make it happen. |
| stand a realistic chance of attaining true financial | | | | Sources of finance include the entrepreneur's own |
| independence. Many people endeavoring to start their | | | | savings (in what is referred to as bootstrapping), loans |
| own business enterprises are however put off by the | | | | from financial institutions or selling equity to external |
| fact that the entrepreneual journey is presented as a | | | | financier(s) in exchange for the money you need to |
| long and difficult one, which it really is. But as 'success | | | | make the business come alive. The business plan you |
| experts' will tell you, the way to make a long and | | | | developed in the second step comes in handy at this |
| difficult journey look and feel easier is to break it into | | | | point, especially when getting capital from external |
| smaller parts -- so that the arrival at each 'stop' on the | | | | sources. But even if you are to provide the money to |
| journey can be seen as a sign of interim success, and | | | | start the business yourself, you are still supposed to |
| therefore a source of motivation to trudge on. And in | | | | look at your business plan objectively (with some level |
| this same spirit then, the journey towards starting | | | | of detachment) and thus work out if it is something |
| business can be divided into some 'steps' which can | | | | you would finance if it were another person trying to |
| also be seen as sub-goals, with the attainment of each | | | | borrow from you the money to make it happen. |
| serving as a source of impetus on the journey. | | | | Having found the capital to make your new enterprise |
| The first step on the entrepreneurship journey has to | | | | happen, the fourth step on the journey towards |
| be the identification of a viable business idea. To be | | | | starting business is to roll it out, that is, to actually get |
| successful at this stage of the entreprenual process, | | | | started in the sale of whatever products (goods or |
| you need to be tuned in to the needs of your society | | | | services) you are building your new enterprise upon. It |
| -- and identify unmet or 'under-met' needs, which you | | | | is at this stage that you should develop proper |
| can then build a business around. | | | | business systems for the enterprise, seeing that it is |
| The second step on the journey towards starting a | | | | businesses with good systems that tend to prosper. |
| new business has to be the development of a | | | | Systems you should pay particular attention to include |
| business plan around the viable business idea identified | | | | the financial management systems, the operational |
| in the first step. The process of building a business plan | | | | systems and administrative systems. |
| brings you face to face with the hard realities of the | | | | Once the business systems you develop in the fourth |
| (objective) viability of your business idea, as well as its | | | | step start working well, then you should be clearly on |
| practicality in the real world. And upon completion, the | | | | your way to your destination on the entreprenual |
| business plan serves as a tool for sourcing external | | | | journey, a destination called a successful business |
| financing (in case you need it) and as a blueprint for | | | | enterprise. |