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copyright © 2005, by Karyn Greenstreet. All
rights reserved. There appears to be two types of small
business owners: people who jump right into running their business and
marketing their products and services with little or no planning, and those
who plan a strategy -- and a service or product design -- before they ever
dream of offering it to the public.
Is one better than the other? Yes and no.
Planning often allows you the time to brainstorm and think
through possible scenarios before you commit your time, energy and money
into your business idea. Ninety-five percent of the time, I advocate
planning, especially if you’re starting a new business or launching a new
product or service. The time you spend with research and working through
possible alternatives, as well as the time you spend thinking about how you
might handle worse-case scenarios, will reap huge rewards later on.
On the other hand, over-planning often leads to inaction.
A phrase I love that sums it up is, “Analysis Paralysis” -- the inability
to move forward on a project because you feel you don’t have all the facts,
and the unwillingness to move forward until you’re 100% sure of success.
Every self-employed person will tell you that there’s no such thing as being
100% sure of anything.
There is a place for jumping in the world of small
business. Jumping allows you to be flexible, and to ride the wave of
enthusiasm and passion. Jumping allows you to be 85% sure and then go for
it. Good Jumping is action, combined with knowledge, courage and trust.
So when is jumping okay? Jumping is okay if you’ve
already got a solid business foundation underneath you. This means that
your finances are in order, you’ve already got a working business model that
brings in reliable income and steady administrative processes that support
your next great adventure. Jumping is okay if you’ve done as much research
as you can and have a good sense that your project is advisable, even if
you’re not 100% certain of its success.
In the end analysis, a combination of planning and jumping
is required of all self employed people. The key is to find a balance
point.
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Karyn Greenstreet is a Self Employment expert and small business coach. She
shares tips, techniques and strategies with self-employed people to boost
clarity and focus, create sustainable motivation, and increase sales and
profits.
Visit her website at
www.PassionForBusiness.com
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