Chapter 3: Business Planning
"One of the more difficult aspects of building a successful business is implementation.
Sticking to your plan is important but that plan needs to be achievable and measureable.
Setting grandiose goals is great but the chance of failure is tremendous.
When I was traveling 35 weeks a year there were plenty of times I questioned my
decisions. What helped me stay focused on my business was my ability to truly measure
the difference I made in the lives of those I worked with."
It is important to recognize that the only certainty is change. In developing your plan
and then executing, do not be concerned about certainty because it does not exist. All too
often people try to account for every variable. Well, it?s not possible. You have to avoid
analysis paralysis. In operating a business, focus on clarity and be flexible in order to
deal with the only certainty, change.
Your
business plan should include vision and mission statements, cost
projections, revenue projections and return on investment
calculations. The book includes net present value calculations and
stresses the importance of time value of money.
Chapter Summaries
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