Part of any solid athletic training involves visualization of the sport. This should be part of business planning as well. We need to learn to create a realistic mind movie and run it in our heads. We should look for flaws that can be corrected before starting the business.

Most people jump into business with an idea. An idea is not a plan. A list of items to do is not a plan. A plan involves putting together a realistic vision of what the business will look like when it’s functioning. How much will things cost? What will be charged? How many customers will it take to cover the bills? What’s all this really going to look like? (That last item is the real key!)

The most successful people have the ability to see the realities of their ideas. They don’t just see themselves as successful. In fact, seeing themselves with piles of money is never part of the vision. The people with the ability to carry out a business idea through to successful operation can see how everything will work once the idea is implemented.

Of course, our vision of the future is never perfect. The farther ahead we look, the less reliable the vision. However, the successful business people are better than most at putting a reasonable picture together. They are also able to adapt where their vision might have been wrong.

Forget about those ‘feel good’ people who push bad, even dangerous advice like “follow your passion” or “never think about failure”. They want you to ignore reality and open your wallet.

Get the vision right. The clearer you see the idea for your business operating as a functioning entity, the better off you will be.

By the way, this applies at established businesses as well. Considering a new product launch? Thinking about expanding? Seasoned business professionals will “run the numbers” but usually neglect to play the movie! Having team meetings about how this new venture will look will save a lot of grief in the future. You’ll also be surprised to see how differently individuals see the plan. This step is often neglected and the consequences are expensive.

Starting a new business | TeachU

Chris Reich, TeachU
FW: 138 (Moving forward finally!)