Putting It All Together

“Statistics say that 9 out of 10 new businesses fail within the first 5 years.” This is according to an article on smallbiztrends.com. This doesn’t necessarily mean that a business right out of college isn’t the way to go. If you are passionate and excited about your business, you can find success. Utilizing everything you have learned during your college years, and tailoring the information to fit within your business plan is a step in the right direction.

Kevin Geiger discusses having a business plan in great detail. I want to do as he advices, by allowing investors to know how and when they can expect a return on their investment. This clearly is the most important part for the investors to read and understand, because lets face it; that is what they are most interested in. I believe having a detailed business plan is very important; however, I have learned from Chuck Blakeman that it isn’t about the long-term process of how I’m getting there. It’s multiple steps, and not to get discouraged if my business plans change within the process.

I was reading an article on forbes.com about the 6 Things You Must Do To Get Your First Job After College. The article discusses the importance of looking for a job as early as high school, and not to wait until spring of senior year. I believe this information can also apply to your business plan. Starting a business plan as early as possible with knowing, it is okay if there are changes throughout the process. As much preparation as possible is key towards success.

I plan on keeping all of my books, notes, and assignments from everything I have done and learned within grad school. This will allow for me to reintegrate all of my studies. Joining a professional industry related group is another great idea from Dan Schawbel’s Forbes interview. Taking everything, within my business plan, from one step to the next step without trying to figure out my end result is a key point I’m taking from Chuck Blakeman. I think starting a business can be a bit of an overwhelming thought, especially as a new graduate.  Chunking out the details one step at a time relieves some of those feelings.