You may be asking yourself, “Well, how do I develop this strategy?” The answer is simple; follow the 10-Steps to Venture Success: Starting and Succeeding in Your Own Business.
This is a free, online, interactive process that enables you to create a business strategy, one building block at a time, and provides a structure to work with a virtual mentor as you progress through the system.
The 10-Steps to Venture Success (10-Steps) focuses on promoting small business learning, management, and development. Additionally, it offers a framework for guiding entrepreneurial aptitude self-assessment, goal-setting, planning, and network building; all crucial areas in the business planning process and strategy building. As you move through each of the 10 steps, you build upon this action-oriented, interactive training framework to develop the business skills, knowledge, and support you need for a successful launch of your business start-up. Each step introduces a critical aspect of the entrepreneurial development process and provides instructional and background material followed by self-testing tools. This systematic approach allows individuals to assess and evaluate what they learn along the way relative to their own business objectives.
The point is, the 10-Steps process helps you develop a comprehensive business strategy. Once this strategy is complete, it provides the guidance you need to make it all work. The 10-Steps also demonstrates the need for and ability to repay any additional financing that may be required to launch the venture.
With the reality being that the majority of small businesses will fail in less than 5 years after they have started, basically because they really didn’t know what they needed to do, it is critical that they start out on the right foot. For most, that “right foot” involves more than just a simple business plan. It’s about having a strategy in place in order to execute that plan that will ultimately secure the success of venture start-up!
You can read Dr. Deborah’s complete article by clicking here.
We always hear that you need to set goals to be successful but it is more important to develop a plan or strategies to reach that goal.
A perfect example is a young person setting a goal to become a doctor. There are a lot of steps and schooling that a person must undertake in order to get the education needed.
To get that education takes a lot of money so how does our young person get the funding if he does not have rich parents?
Hopefully, you get the idea that setting a goal will not guarantee success. And so it goes in business; your goal is just one of the first steps.
Yes you need to set a goal but you need to realize that there are many things that must take into consideration when starting your journey!
Here is a short video that gives an indication of what we’re talking about. Kick back, enjoy and get your creative mind to start creating!
post title image by StockVault.