The error that I see over and over is failing to spend enough time articulating the vision and then prematurely moving forward without a written business plan. One of my favorite sayings is, “If you fail to plan, then plan to fail!” No where is this more true than in a one man show or other small-scale operation.
Inevitably, the prospective entrepreneur is enthusiastic. However, eventually the dream comes up against the demands of the world. If the original vision wasn’t written down, it could seem surreal at this point. Also, this is the trigger for the individuals fears coming up. This confluence is disorienting and discouraging. The dynamic also tends to spiral downward from here.
By having a written business plan, you must clearly articulate your dream. I would even take this step further and say you must put it into the exact right words that have the power to evoke your emotions and original enthusiasm. If you do a lot of work on this, returning to it will renew your sense of mission and passion. If this step was done carelessly, you will read your words, but they won’t land emotionally. In other words, your original idea might seem hollow from the perspective of this new point in time.
Further, without a written business plan, you don’t have a battle plan for WHEN your fears strike. If you believe this won’t happen to you, you are wrong. If your dream is important to you, something will come up that threatens it’s realization. The stronger a sense of calling you have, the bigger the fears. Therefore, anticipating the challenges and having a plan you believe in along with a vision that creates passion has the potential to carry you beyond your own fear. You must believe in your business plan!
Lastly, most small businesses do fail. The more time you put into your business plan when you are enthusiastic, the less time you will have to spend battling internal demons or recovering from being surprised by the harsh realities of the market place.