Business Planning for Startups

Writing and following a business plan is crucial to success. No business plan is set in stone. It should be subject to many iterations as time, experience, feedback, and growth (or lack of it) develop. 

If your business plan is too complex or overwhelming, then you need to scale it back. Having a list of your goals and objectives is a great place to begin. While this may not be the business plan you submit to the bank or potential investors, having a written plan of any type is better than nothing. 

The Difference Between A Goal And An Objective

Goal: "The object toward which an endeavor is directed; an end. A goal is something rewarding or fulfilling that inspires a sustained endeavor." - American Heritage Dictionary

Objective: "A specific result that a person or system aims to achieve within a time frame and with available resources. In general, objectives are more specific and easier to measure than goals. Objectives are basic tools that underlie all planning and strategic activities. They serve as the basis for creating policy and evaluating performance. Some examples of business objectives include minimizing expenses, expanding internationally, or making a profit." - BusinessDictionary.com

To reach your rewarding goal in business, you must remain inspired to achieve key objectives.  You must do this with available resources and within a specified time frame.  The two definitions are important enough to commit to memory as these concepts apply as much to branding as they do to any aspect of business.

One can have the goal of becoming a successful business owner or a published author.  But as you may already know, there are many objectives that one must achieve before one enjoys the satisfaction of having reached the goal.

“Management by objective works - if you know the objectives. Ninety percent of the time you don't." - Peter Drucker

It can be clearly observed and stated that many individuals never attain their goals because they never set required objectives and then make those objectives occur, come hell or high water.  Power Brands distinguish themselves by having definitive goals and articulated, specific, written objectives.  

The end-game of achieved objectives and attained goals makes branding much more strategic than most people have realized.

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Edwin Dearborn is the bestselling author of Power Branding Secrets