Entrepreneurial success is important when you get into business, but what components you put in your bucket will define the trajectory of the success, whether you are a startup, first-generation entrepreneur or established business incorporation.
As an entrepreneur, planning is the fuel for your business. But how do you approach goal setting and achieving them? Have you written a plan for yourself or your business year? In my personal and professional experience with startups, 1st generation entrepreneurs to corporations across Asia, the Gulf region, Africa and Europe, the big drawback is that 90% of the people do not have a written plan, only one in their heads.
Whatever belongs in your head are the goals and plans in your concise brain. They can be innovative, short or long term, poorly defined and very fuzzy.
Let's use the ascent of Everest as an illustration of goal setting and planning, which is hard and difficult. Now simplify climbing the peak as your business goal in four steps: Research: People from around the world come to Nepal to climb Everest, some succeed, others don't. They followed a plan and paved the way for other climbers. They do not just start climbing randomly.
You start by learning from those who have already done it, whether they did it successfully or not. Learning from both perspectives will give you the guidance and knowledge to take your steps forward. Read books, and research articles.
Guide: While researching, you find that few people also climb Everest alone. But how is it possible to complete the journey alone? Wait, they did not climb Everest alone, they hired a guide with experience. They shared experiences, good and bad, to learn what precautions to take. Find a good coach and mentor if you are climbing alone.
Plan: Any goal you have in mind needs to be documented as a written plan. Without it, you might as well climb blindfolded.
Sustainability: Break your plan down into manageable steps to achieve the value of climbing with sustainability.
Remember that when you climb Everest, there is also a death zone. So if you do not have the right guide and mentor to guide you every step of your climb, you will find yourself in the death zone, and your journey will end without optimal results.
Business success knows no boundaries, but it comes with challenges every step of the way in the marketplace. Your innovative idea and willingness to take risks combined with an effective strategy, vision, plan and the right coach will go a long way in promoting your business and leading it to success.