One of the worst mistakes an entrepreneur can make is to launch a product before they are ready. Not only will they lose credibility in the eyes of customers, their competitors will learn from these mistakes and use it to their own advantage. What’s more? Your competitors get to conserve their own resources until they are ready, while they ride on lessons learnt from your mistake to their own success!
So, what can you do to minimise this possibility, and set yourself up for success? Patrick Thean wants to lead you in on the secret.
Developing ideas into a viable business takes time. Before you can come out with a product you can be confident of, you will need to develop a regular Think session to work on your ideas, and to make better decisions about what opportunities or ideas to execute on and how to execute them. To see how your idea will work, test them in reality, as this will help you refine it better.
But is everything set once you have properly documented their idea? No! The real work has just begun. Planning is how you get your idea from conception to execution.
Develop your plan of attack and discuss how to actually execute these great ideas. Who is going to do what, when and with what resources? To best utilize your resources, get into a habit of planning at least 3 months ahead so you are clear on what you need to accomplish. This will help you and everyone working with you know what they are responsible for accomplishing and how it fits into the overall result.
Nothing happens until you Do the work.
To accomplish anything, you need to always be on top of the situation. Start by making sure you know what exactly what needs to be done, and their order of priority. Be very clear on what you will actually accomplish each week, and by taking these small steps, it will help make the project feel more manageable. Each week, consider how well you are moving your plan forward and if you are on track to achieve your goals.
If it appears your goal are getting a bit off-track, pause and think about what adjustments you need to make, and how to go about it.
So, in a nutshell, Think will help you generate and develop your ideas, Plan will help you work on how to establish clear steps to execute your strategies and work more efficiently, while Do will help you measure and review your progress to keep you on track toward achieving your goals.