Business Plan or Life Plan? Put the horse before the cart

09 Feb 2006

Joel Welsh

Joel Welsh, Chief Community Officer, is also the CEO of a new startup company ... Showcase U. Joel shares behind the scenes key decisions being made in the "Birth of a Startup" and knocks it out of the park to provide his own entrepreneurial wisdom.

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We get lots of questions here at StartupNation. People are hungry for information about how to start and grow their dream business. One of the most popular questions is about how to write a business plan.

We devote Step 3 in our 10 Steps to Open For Business series to creating a business plan. We share the defining dozen questions that you must answer in order to have a good business plan, identify the key components of a business plan and even have some sample business plans for you to check out. You can listen to the Sloan brothers in an audio overview of creating a business plan and even watch a 30 minute on demand seminar with PowerPoint slides. It’s really terrific stuff.

But hold on a sec. If creating a business plan is step 3, then what’s step 1?

We believe that the foundation for your entire business begins with your life plan. If you can create a business that fits in perfectly with what you want out of life, you are much more likely to work harder at it and be successful.

So don’t put the cart before the horse. (have you ever actually pictured a cart before a horse? It’s terribly inefficient for making good headway) Put the horse before the cart and create your life plan first. Your business will be glad you did.

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