Entrepreneur Action Plan

723 Words 3 Pages
As entrepreneurs, dreaming big comes the natural way. The distinguishing factor between the big dreamers and the big doers is that doers take action. If you want action, you need an action plan. When entrepreneurs engage in true goal setting, they define their objectives in pragmatic and measurable terms. They also identify the resources, time and funds that will be needed to invest to attain their objectives. And thus, an action plan is developed. Goal setting is the best way to transmute idealistic resolutions into bottom line results and is a fundamental component to long term success. The basic reason for this is that you cannot get where you are trying to go until you clearly define where that is. Working without definite goals is just …show more content…
Entrepreneurs needs sound strategies to answer “How will I get there from here?” Successful entrepreneurs have diverse strategies and do not bank upon any one. The world is changing fast and what used to work might not click tomorrow. Successful entrepreneurs require strategic plans to respond effectively to the changing environment. To exemplify, Facebook users around the world were worried about missing important updates from friends and family and did not like posts they didn’t care about. And what happens, Facebook changes the news feed algorithm to prioritize content from friends over pages. It is through well formulated and articulated strategies, the entrepreneurs make more efficient use of time, resources and emerging opportunities. Alongside strong strategies, entrepreneurs also require to have a well-defined business plan. Writing out business plan drives entrepreneurs to review everything at once. Value proposition, marketing assumptions, operation plan, financial risk, manpower planning and many more. The business plan is great for attracting talents. Strategies are just wishes if there is no executable plan. An executable plan is a realistic and achievable one. If an entrepreneur’s marketing plan projects 10,000 customers by end of the second year and manpower plan provides 2 salesperson, it forces them to think: is it feasible or achievable? The answer might lead them to conclude forming partnerships or distributorships. The execution of the plan can go wrong for a variety of reasons. Entrepreneurs have to strike the right balance between sticking to the plan, choosing the right metrics and assessing the performance

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