What do you do if your aspiring entrepreneurial dreams need a solid business plan?

I firmly believe that the entrepreneurial journey begins with a crystal-clear vision. This vision serves as the cornerstone of your business plan, demanding introspection to define what you aim to achieve. Reflect deeply on the purpose of your business, the problem it seeks to solve, and who your target customers are. A robust vision not only charts the course for your venture but also acts as a guiding light, ensuring alignment with your goals. Articulate this vision meticulously, for it will shape every facet of your business plan and serve as a wellspring of inspiration during inevitable challenges.

Every success story begins with an idea or vision and the clearer the vision, the higher the probability of it becoming real. However, I agree that the vision must be clear and packages in a form that can be easily shared with others. It is also important that the vision must be relatable to current issues because that then transforms the idea into a possible business that can address challenges and needs, be relevant to a specific and target audience. Entrepreneurialship is a seemingly big word that encompasses simplicity; personal development, revenue generation and financial empowerment first to me and to others because knowledge rightly acquired and applied is power.

At the beginning, start with the end in mind! Where do you want to go? Never take your eye off that prize and you will get there. There will be bumps along the way, but the closer you stick to where you're heading, the faster and more successfully you'll be - all the while having fun in the process. It's when we stop taking our eye off the prize that the "busy" and "annoying" parts of work start to take hold making it harder and harder to see the prize. Take a few minutes every quarter to realign where you are trying to get to during your strategy session and get back to marching in that direction.

There are a few things that that do preceded vision. For example, passion and desire are necessary to make a difference and stay the course. Based on my experience, it is from this rich soil that vision will emerge, so long as we anchor into the guttural instinct that something could be, or should be different and better.

Para emprender debería tener claro lo siguiente: 1. Qué problema mundial, regional o local resuelvo con mi emprendimiento. 2. Qué oportunidades tendré, aterrizarás en números (ventas, margen, indicadores, crecimiento). 3. Qué datos filantrópicos se pueden generar allí.

I emphasize the critical importance of comprehending your market for business success. Thorough research is paramount to identify your target audience, discern their needs, and assess your competitors. This insight enables effective positioning of your product or service, facilitating the identification of a niche in the market. Your business plan should meticulously outline strategies to attract and retain customers, along with contingencies to adapt to market fluctuations. Solid market research not only validates the demand for your business but also underpins the implementation of your strategies.

Al tener claro qué problema estoy solucionando (mundial, regional o local), debo investigar si otras empresas prestan servicios similares al planteado, para entender el esfuerzo a realizar, cómo competir y generar valor agregado.

Ultimately, it's all about understanding the customer's needs and finding innovative ways to solve them. This is key to attracting and retaining loyal customers, and staying ahead in the ever-changing market.

Cash Flow is an important aspect of running a business. Top line and bottom line are important. But, having sales and profit do not equate to cash in a company. Never under estimate cash flow statement which is different from cash flow forecast.

I stress the indispensable necessity of a robust financial strategy for every business venture. This section of your business plan meticulously delineates funding requirements, revenue projections, and cost analysis. Transparency and realism are paramount; investors seek assurance that you have thoroughly considered the financial landscape of your business and crafted a plan for profitability. Incorporate elements such as break-even analysis, cash flow forecasts, and scenarios for best and worst-case financial outcomes to provide a comprehensive overview.

Yo buscaría comenzar con recursos propios, con algunos socios, tener un producto mínimo viable, y si la operación local muestra progreso, armar un buen plan de negocio y plantear conseguir nuevos inversionistas. No me iría con una idea para comenzar desde cero con una alta inversión. Se debe mostrar que la idea es funcional, no ideal.

Many startups fail because they don't have a solid grasp on financials. As a founder, you need to become the best CFO for your business. Don't be tempted to spend money too easily - remember, it's easy to spend, but hard to earn. Make cautious and strategic financial decisions to ensure the long-term success of your startup. Don't let financial management be an afterthought, make it a top priority from the very beginning. With a strong financial foundation, you can set your startup up for success and attract potential investors.

Cuando tengo claro la problemática a solucionar, se debe planear la operación, lo haría inicialmente con un producto mínimo viable, donde puedo hacer los ajustes necesarios y conocer las posibles zonas grises y tomar medidas. Esperaría que mi solución no dependa de que terceros tengan qué ejecutar tareas para completar la cadena hasta el cliente.

Beyond the plan, learn how to hear and trust your intuition. There is a reason why Richard Branson, Steve Jobs, and Oprah Winfrey rely on their intuition to make decisions. Business is more than a plan.