Startups and Strategic Planning
If you’re an entrepreneur, your “strategic plan” is crystal clear……. pursue the vision for your product or service far enough so that you can pay your current bills and fund future growth. It’s that simple. The focus must be on surviving before we can focus on thriving.
A client of mine said “This talk about strategic planning is all well and good, but I’m an entrepreneur with a startup. I’m just trying to make my idea viable. What advice do you have for me?” They had just read my post on Strategic Planning and felt it was more than they needed for where they were.
I agreed.
New business startups are typically a single idea that the founder has chosen to develop. The objective is to establish the idea well enough that prospective clients will choose to purchase what we are offering, enabling the enterprise to pay current bills, ultimately achieving enough Revenue and Net Income to start adding staff and growing the business.
Persistence and tenacity are vital in achieving these results.
In summary, a startup’s strategic plan is crystal clear…..develop things far enough to at least break even, then establish a plan to start making a profit and expanding the vision. A planning tool like the Entrepreneurial Operating System can evolve with your growing organization and may be worth considering on your journey.
Entrepreneurs, how are you navigating your early days?
