| Seneca "The Younger", the great ancient Roman | | | | plan and a comprehensive branding program. |
| philosopher famously observed, "If one does not know | | | | Like the family planning a much needed vacation, the |
| to which port one is sailing, no wind is favorable". The | | | | entrepreneur, driven to be successful, will leave no |
| intent of his words is clear. Knowing where you want | | | | stone unturned in seeking knowledge and advantage |
| to go is the essential prelude to planning how to get | | | | that will be key to achieving preordained goals. He will |
| there. Unfortunately, many people go through life | | | | not take shortcuts. He will not make guesses. He will |
| without a plan or a goal, and those people usually end | | | | detail the basis utilized to construct each assumption |
| up right where they start from. | | | | that buttress the conclusions he uses to write the |
| Most families have a set vacation time to relax and | | | | business plan. |
| undertake various forms of leisure together. If the | | | | The failed entrepreneur is usually a dreamer. Like the |
| family plans a camping trip to a state park in another | | | | disorganized family stumbling into "vacation surreal", this |
| state, they will typically make reservations, reserve | | | | impostor thinks he can game the system. He does not |
| tickets for campsites, service the car, budget | | | | believe that he needs to research his targeted |
| anticipated expenses, inspect and inventory their | | | | marketplace, if he can even identify his real |
| camping gear, organize provisions and print out a map | | | | demographic target. He guesses at his actual costs |
| with driving directions to their destination. This is a | | | | based on incomplete information and an unwillingness |
| simple vacation plan. Very few prudent families would | | | | to perform the crucial due diligence required to identify |
| simply gather everyone up, hop in the car on a whim, | | | | the best source of production. He believes that |
| take the first highway and drive aimlessly hoping to | | | | because "Cousin Joey" loves his idea, the consuming |
| stumble in to a national park and hopefully be able to | | | | public will as well. |
| secure a campsite. | | | | The "Dreaming Entrepreneur" is a fellow we see all of |
| The logistics of moving the family, safely, securely, with | | | | the time in our marketing consulting business. Planning is |
| reasonable comfort and insuring enjoyment at the park | | | | for others. He doesn't believe in the need for a |
| is the reason we would plan the trip. Who wants to | | | | business plan. He guesses at costs, lead times and |
| waste valuable vacation days on a poorly planned and | | | | component availability that are essential for any |
| executed travel experience. This simple illustration of | | | | successful business to know cold in order to meet and |
| how a family would meticulously plan a vacation in | | | | exceed goals. |
| order to insure a fun time and great memories can be | | | | There is no magic bullet or elixir that entrepreneurs can |
| transferred to the planning essential to starting a new | | | | access in order to insure they will succeed. However, |
| business. | | | | there are things they can do that will absolutely insure |
| A successful business startup always is predictive in | | | | failure. A key lesson for any person seeking to launch |
| the planning that is designed and executed to build the | | | | a new product or new business is to take every |
| foundation of the enterprise. Proper research of the | | | | precaution to minimize negatives that can be |
| targeted consumer demographic and market category | | | | reasonably controlled by planning, research and |
| will be exhaustive. All sources of supply and inherent | | | | performing due diligence. You can mitigate the chance |
| costs will be identified. The product or service that the | | | | for failure by properly vetting all contingencies. You will |
| new Company will provide will be properly priced, | | | | insure failure by sloppily moving forward without |
| readily available, supported with a strategic marketing | | | | properly knowing to which port you are sailing. |