Monetary Nugget G. Whenever you intend to embark on a business venture, remember to have a vision and set goals. It is this vision that will determine your goals and together, they will form your plan of action. Every business meant to succeed must have a concrete plan and a written constitution. Your business plan is a model of your vision. It is the simplified guide that leads to the actualisation of your vision. Your business constitution contains the values and motive of your business. It is what regulates the quality of your product, validates its uniqueness and determine the sustainability of your product. Your business constitution is the reason for the undertaking written down. A guiding principle which must be referred to, from time to time. If your actualisation of the vision and plan is to be ensured. I can vividly recall, the first business venture i embarked upon suffered setback all through that year 2012 because i had a written businnes plan without a spelt out business constitution. That failure was so devastating to my entreprenueral spirit but, i learnt my lessons. Nobody may ever tell you this but, it matters. The latest personal discovery and recent antidote to most business failure and unnecessary competition/rivalry in the business world is to have a concrete and written down business constitution; inwhich you uphold its principles. *WAYFORWARD* Vision+Goals=business plan while Values+Motives=business constitution. BUT, YOUR BUSINESS PLAN, TOGETHER WITH YOUR BUSINESS CONSTITUTION DETERMINES THE DIRECTION OF YOUR BUSINESS. >Just as no country can survive a fiscal year, without a good budgetary plan and a constitution, you cannot create a large scale impact in your business without a business plan and a business constitution. So, go get one and start up.< REMEMBER: your vision answers the WHAT your Plan answers the HOW while your constitution answers the WHY.
Posted on: Fri, 25 Oct 2013 08:22:53 +0000
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