Monday, March 31, 2008

The First issue with start up

This journal entry is a true narration of what I have been going through ever since I forayed into my home based business. As I continue to work with my current employer, I found the idea of home based online business as the most feasible one. But then I am severely dissatisfied by the progress I have made. Reason... Lack of discipline. All my plans in place but my discipline is not. This fact though displeasing, appears to be quite obvious. As a person I have been working under the supervision some unknown force (The unknown director). This director decided my course of action for most of the time. Some times the pressure of impending semester exams played the role of this director and sometimes it was my job, and thus most of my plans were followed. Fortunately (Rather unfortunately), this director is missing in the start up and thus I hardly have any director monitoring me. Result... A totally haphazard approach towards the business. I do set plans for the weekend (not the movie plans), but then when the weekend actually arrives , I end up doing something else and the task that was supposed to be done, either gets infinitely postponed or cancelled.
With this, I would love to share my first learning about goal setting, planning and abiding by it (of course):
1. Be very precise and a hardliner about what you want. Do not give up your plans for some other apparently lucrative opportunity, till it actually is justifiable.
2. Take a good deal of time to plan. Though that may sound funny but then the better thought the plan is, the more are the chances of it getting followed.
3. A plan doesn’t get followed only in two cases (applies only to start ups). First, the planner has got a lucrative offer or an opportunity and thus he does not find it rational to execute the preset plan. Second, the planning was done without keeping time and personal constraints in mind.
4. Be proactive instead of being reactive. Stick to the preset plans instead of reacting to every second lucrative opportunity.
5. Set a time bound goal (Entrepreneurship basics 1) for all you activities. Modularize it and take them one by one, instead of biting bigger that you can chew.
Last but not the least, at very step you’ll be faced with choice between a seducing immediate profit and a visionary long term profit. The decision here solely depends on the kind of business model followed, and thus good or bad cannot be decided in this case at least.

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