One-Page Pre-Business Plan
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People often inquire about how to make a go of their idea, or how to tell if their idea has any hope of being profitable.  They have gotten stuck on the part, "Do what you love," and haven't considered the other two pieces; "Is the market demanding it?" and "Have you earned the right?"

 

It doesn't make it a bad idea, or even something they shouldn't do.  It simply means that if you want it to be PROFITABLE, you need to answer the questions that relate to PROFIT.  What we want to help them do is to establish a foundation based on an idea that can be profitable, that they have the background in (or are prepared to go out and learn/earn) and that they love (maybe not their #1 Love, but a love).

Here are the 3 main points and the 10 questions relating to each.  The questions will elicit a "Yes" or "No" answer.  The more "Yes" answers you have, the greater the likelihood that your business will be financially successful.

 

 

    IS IT PROFITABLE?


1.  Is there a proven demand for it?  Are people saying they want to pay for this right now, and preferably proving this by buying it somewhere already?  Have you made money through selling this on a one-on-one basis?

    OR Are you pushing forward because YOU believe in it and jumping straight to a leveraged position and skipping dealing with the long process of market research in the form of one-on-one sales?



2.  Is the currency of exchange for your market MONEY?

    OR is the currency for your product or service... Love & Hugs (Spiritual/Healers/Coaching etc.) - Oohs and Ahhs  (Those with letters behind their name) - Push & Shove (Those who value power - actually they value force)

 

 

3.  Have you interviewed 5 other people who have done what you want to do successfully?  


    OR are you trailblazing, trend setting, doing something new?

 

 

4.  Do you have a Unique Selling Proposition that really makes you stand out?


    OR is it somewhat difficult to precisely explain what your product or service does in a Sound Byte?


5.  Of the people who want to pay for this service, do they want what you have over the best that's out there now (and how do you know)?

 

    OR could someone knock you out of business if they saw that there was money to be made and had more money to invest than you started with?

 

 

6.  Are you doing it because you are drawn to it from your core?

    OR are you doing this because you’re looking for anything better than what you’re stuck doing now?

 

7.  Are you currently a master of managing your time and your finances?


    OR are you looking for something that allows you to avoid dealing with a boss who expects you to conform to a system?

 

8.  Are you currently disciplined in managing your focus and energy?

 

    OR are you looking for something that doesn’t demand consistent deadlines because you’re more of a creator and visionary?

 

9.  Have you mastered the skills of interpersonal relationships?

 

    OR are you tired of trying to fit in to the social game and prefer to make a go of things on your own?

 

10.  Have you perfected or improved a product, service or piece of knowledge that people are already purchasing?

    OR have you created a brand new way of doing something that people would learn to value is they were aware that it existed?
    


    ARE YOU READY TO START?

    1.  Are you committed to doing the right steps in the right order, patiently and taking however long it takes?

    OR are you inclined to skip steps that people are recommending because it would take too long before you are seeing the type of money you believe it can provide?


2.  Do you have the professional and experiential background that will inspire people to trust, support and finance what you’re doing?

    OR are you a new comer or outsider who’s going to show people a new way of looking at the business?


3.  If the worst case scenario happens, can you afford losing all the time, money and energy you invested?

    OR are you convinced that this is a “no-risk” opportunity, or you simply haven’t considered what losing your investment would do because that is “negative thinking”?


4.  Do you have enough money to open your business and still have money left over for operating expenses and your salary for the first few months?

    OR are you convinced that this business is close to instantly profitable?


5.  Do you have strong access to the market through a well developed network of associates and businesses who already like you and your product?

    OR are you moving forward on the strength of your product and believe your network will build based on that?


6.  Do you have a strong business background in addition to specialized knowledge related to your product or service (have you studies principles in books like “The E-Myth Revisited” and “Good to Great”?)

    OR are you moving forward on the strength of your expertise and plan to pick up business skills as you go?

 

7.  Do you currently manage your personal time effectively with a scheduler?

    OR do you use a “To-do list” or simply react to whatever is most pressing?  

 

8.  Do you currently manage your personal finances effectively with a money-management program like Quicken, Quick Books or Microsoft Money?

    OR just do your best to make sure there is more coming in than going out?

 

9.  Do you pay all of your personal bills on time, use automated payment systems and go on-line to view your transactions?

    OR do you do things by hand, go into your branch or avoid the internet?

 

10.  Are you in control of your personal credit?  Do you manage your credit cards, lines of credit and mortgages well?

    OR do you prefer to focus on things other than financial details like your own credit?

    

    

    DO YOU LOVE IT?

1.  Are you so in love with what you’re doing that you’re excited about the idea of marketing and selling your idea – even cold-calling if need be?

    OR are you only able to “talk” about the details of your idea with those who support you?


2.  Are you prepared for setbacks, dealing with people who don’t believe in your idea, rejections from banks and other sources of funding?

    OR are you looking for someone else to go out and sell your idea because you’re the “Visionary” not the “Marketer”? 

 

3.  Are you committed enough that you’re prepared to hear some tough feedback and adjust when you get constructive criticism?  Have you put your idea out with the question, “What’s wrong with this idea, where are the holes?”

    OR have you only heard from people who like your ideas?

 

4.  After the tough questions, are you able to provide answers that fill in the holes?

    OR are you left feeling frustrated that someone doesn’t believe in your idea?


5.  Are you prepared to put it out to tough scrutiny even before it’s completely polished?

    OR are you waiting until you’ve polished it to deal with the critics?

 

6.  Would you be doing this even if you weren’t getting paid for it?

 

7.  Is it connected to your purpose, to your life intentions and goals, or simply a quick way to money? (Remember, money is a result, not a goal)
      

8.  Can you describe why it is so critical for you to create it?
      

9.  Are you focusing on the value you're creating and delivering or what you'll get out of it?
      

10.  Are you focusing on the intention of what you are doing?

    OR the results you hope to create?

Graham White

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