Need to create a business plan? Start with 5 simple questions. Ask yourself in this order: Why, What, Where, Who and then How? Most people start in reverse and that’s not the way to do things. Ask IN ORDER these questions and then create your plan to the answers.
Goals are not the issue; timelines are! Learn more. Watch this video.
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Hi, Jay Massey here, with the CashFlowDiary.com and have you ever wondered “How on earth, you get started, starting your own business?”
Okay, so starting your own business is actually more simple then we tend to make it.
In fact, so simple so I’m going to go through five questions that you ask. And In fact, if you ask and then answer them, in this order you’ll be able start any business that you want to. So really quickly here’re the five questions. It’s:
“Why,” “What,” “When,” “Who,” and “How,” – Answer these five questions, in order, all the time, and you’ll be fine.
Here’s what I mean. Most of the time we start with “What,” that’s what the entrepreneur mind goes …
“I want to start a jewelry business.” … “I want to do business online.” “I want to do is real estate.”
Okay cool. That’s wonderful, but you’ve got to back up and start with “Why?” Because if you fail, this one, this is the most important question ‘cuz, not every day is going to go well when the motivation goes down straight to the toilet, you need to remember “Why on earth am I doing this,” how about I just go flip burgers instead.
You’ve got to remember “Why?”. After “Why?” comes the “What?” which most of us have an idea of what we what to do, and that’s good. But if you don’t it usually should be at off shoot of the “Why?” and more importantly, what you are passionate about.
After the “What?” then comes the “When?”, “When do you wanna done?” Completely up to you there is no guideline there’s no such thing, in my opinion, it is on realistic goals.
Now there are tons unrealistic time frames, alright.
So when, the “When?” dictates the “Who?” with you say hey “I want to have a new business in the next 6 months” that’s different than saying “I want to have a new business in the next 12 months, 18 months or 2 years” and that begins to dictate the “Who?” needs to be on your team, and the “Who?” you’re going to be serving. All of those things make a difference here.
And here’s the death trap. It’s in the “How?”. Most of the time, when we’re thinking of a business we go “I don’t know how to do that.” We’re thinking of “How does that work?” We’ve to start was down here, we start searching for information that we don’t need it don’t have the ability to use yet, and we start with “How?”.
And then we think, “We have to do it,” “I don’t know how to do it” “How am I going to do that?”.
I understand all these things, but that’s why you got to answer the questions in this particular order.
When you answer the questions in this particular order, you can raise capital for whatever business you want, because those investors are going to ask you the same questions in that order. Why do they want to; why should they give you money; what are you going to do with it; and when do you need it; by who’s on your team in; how you guys going to make the deal happen.
The whole point is these five questions that you learned a long time ago in elementary school. Are the five questions required to go out there and start any business that you like?
Thanks for watching.
To get started building your business specifically in real estate investing here’s what I want you to do. Click the link right here. It’s going to take you to a page where I’m going to teach you the most 10 basic words that you can use right now to begin to build your businesses by finding all of the buyers, sellers, as well as investors you need in your marketplace,
If you’re on a mobile device go ahead and click the first link in the description below, and it’s going to take to the very same page. And also remember, hit “subscribe”. If you like the information that you just received in this video, give us thumbs up, go ahead and click like.
If you’ we got some additional questions – I would love to answer them – go ahead and comment below.
I look forward to talking to you soon.
Until next time.