Many entrepreneurs get so wrapped up in launching their business that they fail to create a realistic plan with a timeline to get their business off on the right foot. It is important to set a "go date" and stick to it. Then work backwards from that date.
Procrastination is not only a bad habit, but it can be costly if you delay a timely launch of your business. For example, setting a firm date for a grand opening.
Once the date is set, start planning your activities. Since I provide home care, I needed to make sure I had access to trained aides that could provide services when I started to obtain clients. Sometimes a client needs home care within hours. I admit that I may have procrastinated a bit, but then I set a firm launch date and worked backwards to identify crucial dates when something had to be completed.
Be realistic about what you can accomplish within a given time period. Review the timeline every day to ensure you are on task. Try not to alter the timeline because it will only give you an excuse to take more time. But the more time you take, the more you delay any cash flow.
For my grand opening, for example, I worked backwards from the launch date, taking time to get my advertising, promotional partnerships, Internet marketing and business networking work completed.
Remember just setting a date to open your doors doesn’t mean you will have customers and clients. You need some discipline to stick to a plan, and don’t add more stress to your life by setting an unrealistic timeline.
Factor in everything you will spend, from the moment you begin to the startup date. If you need three months to launch, calculate how much money you will need for salaries, electricity, and rent (and your mortgage payment) during those three months.
Devote the time, work the plan and stick to a firm timeline so that you give yourself the best opportunity for success.
Contributed by Richard Ueberfluss, PT, MBA, FACHE, the president/owner of Assisting Hands® Home Care franchises in Hinsdale and Naperville; and who is also a regional franchise developer. Contact Richard Ueberfluss at assistinghands.com/naperville.