Risky Business: Beginners' Guide to Planning a New Business

AROV's The Path to Greatness Series:

From Concept to Reality- Planning, Marketing and Assessing Your Business

So here you are- you have a business idea you want to pursue. You want to be your own boss and you've got the gumption to follow through on it. Congratulation! That takes a lot of courage and dedication. But before you jump down the rabbit hole too far, it is important to realize that a majority of new business ventures fail within a few years, often due to poor planning. Now, we believe everyone can find success with the right planning, but the emphasis on that statement falls on the last two words: right planning. It is not enough to jump into a business, throw money at ideas willy-nilly, buy websites, file business names, and start telling everyone what a success you'll be. Deciding to pursue your idea is often the most challenging step because fear and comfort often discourage people from doing so. However, once you've committed, you must make sure you move forth strategically and perceptively. Otherwise, it is quite easy to end up with a ton of costly mistakes that will not only undermine your growth and profits but also possibly thwart your success before it even begins.

As Benjamin Franklin once said, "If you fail to plan, you're planning to fail."

When starting a business, it is important to write an efficient business plan. This allows you to take an objective look at your business from various angles to increase familiarity and awareness of every aspect of your strategy, which is integral for success. The From Concept to Reality course teaches students how to develop the various aspects of an effective business plan, including the commonly in-demand executive summary, market analysis, and organizational structure sections. It also offers ideas on how to market a new business without much financial investment. Once you have your business set up, you need to figure out how to bring in customers. After all, a business without customers isn't much of a business at all. Plus, this course covers how to develop an efficient elevator speech (and explains why it's important); and teaches what SWOT and MOST analyses are, and how to use them to strengthen the efficacy of your business strategy. This allows you to analyze the strengths and weaknesses inherent within your company as well as within your business plan itself.

AROV Education was developed with the intent of helping people achieve their goals and build the life they want to live. We offer this class in the hope that the information within it will help orient you in the right direction and inspire you to follow through on your entrepreneurial dream, whatever it may be. After all, if you're reading this, you're doing so for a reason. Thus, for what it's worth, our initial advice is this: Fear failure no more than you fear success, and think big- without limitations. As the philosopher Lao Tzu once said, "The journey of a thousand miles starts with a single step."

Perhaps clicking onto this page was that first step...

AROV Education; Become Your Dreams