Step 1: Assess
Entrepreneurship, much like life itself, is a journey that begins with a single step. In fact, for most business owners, the line between the professional and personal is virtually nonexistent. So where to start?
At Eagle Corporate Advisors, we highly recommend beginning with an assessment of your current position, essentially a comprehensive analysis of all factors to show you where you are today before making decisions which may impact your short term and long-term strategies. You can’t map out where you’re going until you determine where you are.
The assessment covers your business position and personal goals from objective and subjective standpoints. From the personal perspective, it may begin with the simple question, “What does success mean to me?” Is it money in the bank, peace of mind, work/life balance, becoming the major player in your market category, leaving a lasting legacy? All of the above? There are no wrong or right answers, only ones that are meaningful to you. From the business perspective, it may begin with the question, “Do we have a written strategic plan?” Has the plan been communicated and adopted by everyone in the company? Who is responsible for achieving each portion of the plan? Who is going to ensure we stay focused when the phone rings or the next potential customer asks for services outside of your plans? In our February issue, we’ll address the next step on your path to personal, financial and emotional freedom.