Can you really start your own business without a business plan? YES, you can! Although a business plan is a must when starting any business venture because it is the basis in formulating your plan of actions to succeed, still, you can!
Admittedly, coming up with a business plan is not an easy task but it should not be overwhelming either. If you are rearing to take action as soon as possible but do not know where to begin, I suggest you start with the following steps:
Put the cart before the horse, that is, start moving even before you even have a clear plan. Normally, this would seem absurd but it could work. What is important is you have a strong determination to succeed. Details may follow later (but not too far later). You may not have yet a clear picture of your goal but answering the following questions could help you shape it:
a. What do you love doing most? Something you are passionate about.
b. How would you feel doing it? This would give you ideas of tasks to do.
c. With whom do you imagine sharing it? These would be your prospective clients.
By asking yourself these questions, the vision of what you wish to accomplish will slowly take shape in your mind. Actually, this is your goal setting stage.
Define the thing you would like to get involved it, either by possessing it or producing it. For example, if you love perfumes, you share this passion with others by selling to them, or if you enjoy more concocting fragrances, you could share your expertise by giving lectures or holding workshops for a fee. Another example is if you are into the literary field. You could share you passion in reading by selling books or if you enjoy writing, you could teach others to hone their writing potential. Either way, you can monetize your passion.
Now that you have an idea of what business you want to be involved with, it is time to think of with whom you would share it. Focus on people having similar passions as yours. This is looking for appropriate market needs for what you have. Join groups by networking online or being members in various organizations in your community. Know your fellow members, their aspirations, their hobbies, their needs, etc. Offer your services or your products to meet their needs. Pinpointing the niche to target would save you lots of time, effort, and expense in starting and running your business. You would then be laser-focused in formulating your action plan and unnecessary activities and expenses could be avoided. Now, you just did an integral part of a business plan without you being aware of it, defining your product —isn’t that easy?
Having done with the definition of your product/service to sell and the formulation of your action plan, take advantage of the momentum you have built up so far. You may not have the details still but do not allow this to bug you down. Do not focus on perfection yet on this stage because it is more important that you first initiate the momentum. You could fine-tune your operation as you move along. Take advantage of this stage to build up good work habits to set you into “autopilot” mode. Set up a regular and consistent schedule by creating daily agendas and doing them. Actually doing things is the best way to learn them and become second nature to you.
Although details such as well-defined tasks, deadlines, and finances are important parts of a business plan, they could wait if immediate launching of your business is your greater concern. Concentrate first in having a clear vision, on focusing on people, and in building up momentum in starting a business. These are sufficient for you to start moving in building your dream venture.