| There are 12 steps to starting a small business. Next | | | | entrepreneurs think this one through. You need to think |
| on the checklist for starting a new business is step 3 | | | | of your business as an investment, and what is |
| Strategic Plan. Let's cover the basic points to a great | | | | investment rule number 1? "Know your exit before you |
| Strategic Plan. | | | | enter." A business succession plan is your exit |
| 1. Mission Statement - An example of a good mission | | | | strategy. Decide what happens to the business |
| statement should come from the heart. It should be the | | | | AFTER you. |
| reason, the cause that gets you up in the morning. An | | | | 4. Company Focus - There is a must read business |
| example of a good mission statement is the difference | | | | book called Good to Great. Brilliant book written by Jim |
| between a job and a passion. More importantly, it | | | | Collins. The author talks about great companies having |
| should be the reason and cause for everyone in the | | | | a Hedgehog Concept. He describes a company's |
| company. This statement is extremely important to | | | | hedgehog concept as the one thing that they do |
| your company because it is the life blood of the | | | | exceptionally well every time. Your Company Focus is |
| business! It is what makes the company breathe | | | | similar to this concept. Your Company Focus is the 'it' |
| everyday. Check out for an example of a good | | | | factor. It is the secret code of your business that |
| mission statement. | | | | propels your sales. |
| 2. Vision Summary - One of the best parts of my | | | | 5. Goals - Once you've established your Company |
| business is the allowance I give myself to daydream | | | | Focus, you can begin to derive goals. Believe in setting |
| the possibilities of what my company will become. | | | | goals and then being accountable to them. We must |
| Take a step back and look at your company in the | | | | have goals to drive the company. Goals keep you |
| future and describe in detail what it will look like. | | | | growing. Determine your end goals, and then break |
| Sometimes its necessary to daydream at home...on | | | | them down into milestones. |
| the coach, in the living room, with some popcorn, and a | | | | 6. Accountability - You need accountability for results. |
| drink...and maybe some candy m&ms... maybe in | | | | Accountability is the discipline of getting things done. |
| front of the Flat Screen HDTV, and if a Denver | | | | Getting things done means people meeting |
| Broncos game happens to be on and everyone needs | | | | commitments. It is a specific set of behaviors and |
| to get out of the room, then so be it because Daddy's | | | | techniques that you need to master, and should be at |
| Vision Summary is important and he needs a few | | | | the heart of your company culture. Be the company |
| hours to concentrate! | | | | that gets it done! And now this article is done. Out. |
| 3. Business Succession Plan - Not very many | | | | |