Today's blog is the 3rd in a 10 part series on the Entrepreneurial Puzzle. For the first blog in the series on the IDEA, click HERE. To read part 2 on the NEED, click HERE.
If you set out on a journey without knowing your destination and the waypoints, it is impossible to track progress. The map is an essential part of tracking the progress and knowing alternate routes if your primary routes are blocked.
Such is the entrepreneurial journey.
For the entrepreneur that has an amazing idea (step 1), and that has completed the research to validate the need (step 2), a written plan can often feel like a waste of time, particularly if it is not necessary to raise money.
I must admit, I have fallen prey to that particular malady myself. In my current technology venture, I had decided that I did not need investment, and so I jumped right in. Without a plan.
The only way to reach a goal is to set one.
While this seems totally obvious, more often than not,
entrepreneurs just assume that they will reach their goals.
Then you actually need to get to work and stick to the plan. This implies having milestones and timeframes for each milestone.
Goal setting is specific and it is measurable.
Goals must be attainable (although it is ok if they are a stretch for you) and they must be relevant to the idea and the market need.
Most importantly, they are time-bound. Without a timeframe, it is impossible to tell if you are on track.
Tomorrow, we will talk about DETERMINATION. Because, without it, a plan is but a dream.
dreamer, planner, determined entrepreneur
In reference to " Richard Anderson, Delta Air Lines (5Q Interview) " As a follow on to my earlier article last week about doing...
I am now going to shift gears away from online technology and the role that they play in the travel distribution ecosystem to a topic that I...
UPDATED - March 12, 2014 Well, in the world of travel distribution on the OTA side of the equation, if Travelocity was the "come...
You fully understand that rung #1 of the ladder is spamming and you've gotten past rung #2, noise. You get it -- that in order to reall...
Part 2 of a 2 Part Series on Individual Relationship Management (IRM) versus Customer Relationship Management (CRM) which is flawed B...
This week, Bloomberg announced that Sabre raised $627 million in its IPO. Actually I don't think you should be allowed to call ...
Wow, in as many weeks, I have said goodbye to two amazing men in the travel industry. Yesterday afternoon I learned of the untimely deat...
If you are familiar with the game of dominos, there are dots on each domino and the placement of a domino on each turn requires that you mat...
This is Part 2 in a 3 part series about airline distribution. Here we will talk about the web and direct distribution parts of the airli...