Enthusiasm, Entrepreneurship, and Strategic Planning

14 Apr


Enthusiasm- a strong excitement of feeling.

Education, skill, talent, creativity and experience will not yield successful outcomes without enthusiasm.

Most entrepreneurs have a high level of enthusiasm when they decide to start a business.  It is normal for anybody to be ignited by their passion for a new idea while it’s potential seems limitless and related challenges are unknown.  The “idea of a business,” is simply exciting when untested in practice; and unburdened by the rigors of actual growth.

Once growth occurs in their business, new skills, strategies, methods and systems are often required to maintain growth.  At this point

There are many who disagree with the prevailing “wisdom,” that all businesses require a comprehensive business plan to succeed.  What all businesses do need is a good design, and good execution.  Detailed planning can be a major distraction and a source of problems if you become too invested in a plan that is not actually working.  Simply put, beyond a certain point planning is guessing.  If there is no way to accurately determine what circumstances, resources, opportunities, and challenges are likely to be present past a certain point in time, then there is little gained by forecasting or documenting such guesswork.

Instead have clear and specific goals.  Arrange and review them weekly, monthly, quarterly and annually.  Take action and accomplish them or revise them but don’t analyze them unreasonably.  Time spent guessing is a not profitable endeavor.  Most of all passion for the endeavor must endure, even when the initial novelty and excitement of the infant enterprise have become memories.

“Enthusiasm is the yeast that makes your hopes rise to the stars.” – Henry Ford

Business plans vary in their research requirements and sophistication levels.  Different types of business plans vary based on their intended purpose or objective(s).  Entrepreneurs need as much relevant information as possible but no more than is actually necessary prior to taking action.

Most of our “pre-startup,” clients have created some type of plan to address the pre-launch and launch phases of their businesses.  Others have created more detailed plans to address post launch growth and operations prior to beginning actual operations or funding their venture.  The main ingredient in the recipe for success is action.  A major ingredient to successful action is enthusiasm.

“Nothing great was ever achieved without enthusiasm.” – Ralph Waldo Emerson

Most entrepreneurs have some combination of enthusiasm, skills, experience, education, and determination which help them to remain enthusiastic through the chaos of early growth in their business.  Many leaders actually experience an increase to their level of enthusiasm as they thrive on the excitement of this early growth phase.  Many of these same entrepreneurs often find that their passion fades once the skills and experience which made them so successful through the launch and early growth phases gave way to the need for a different approach and different skills that were required to succeed in continuing to grow their business in a controllable manner.

Recommended Reading:

Keys to The Vault

Rework

The Illusions of Entrepreneurship: The Costly Myths That Entrepreneurs, Investors, and Policy Makers Live By

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