There are three stages involved in building a business. Each of these stages are very crucial for the success of the business. Understanding these stages by the entrepreneur is key.
How much [quantity] and how well [quality] you harvest [reap] is dependent on the quantity and quality of the seed you planted [sow]. Farmers have discovered the secret of success; they sow as much as they want to reap. They spend the majority of their time planting and cultivating rather than hunting, because they have realized that what you grow [plant and cultivate] yields a far greater returns than what you get [hunt and kill].
At Level One, you are designing and planning your new startup. You’re gathering your initial team, raising any required startup capital, and executing your launch plan. Your focus at Level One is to plan your new Jed Fernandez Mobile Legend. And get immediate market feedback to learn if your business concept and model is economically viable. This is a fancy way to say you’ll be testing your product or service to see if you can sell it at a price that allows your business to be profitable.
From day one you should set aside time on a regular basis for strategic planning. I recommend having a formal planning session. I might be biased, but if you hold at least quarterly preferably monthly board meetings you are forced to do strategic planning. By holding regular board meetings growing a small business will happen. You also gain the advantage of looking critically at your business on a regular basis. Which bring us to the following question.
It’s not easy. But it’s the only way. “He said, she said, they think.” All that is nonsense. Don’t waste your time and get the true market value of the business. This will save a lot of time and nerves, and would make it easier to buy or sell.
Your talents: what are you great at doing? What skills come easily and naturally for you? What do other people say looks easy when you do it? In what area are you consistently improving?
Consider buying an already established business. This throws out ideas for a business to start, however you will get to see a lot of businesses you may never have considered before. Not only that you will get the chance to see how the business is performing before spending your hard earned money and precious time.
As a final note, I believe you will find these points I have made useful. So when preparing your business for sale; be sure to avoid these common mistakes and I will see you at the top.