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ACCOMPLISHMENT #1: Clarify your business concept

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My Checklist:

Identify your personal goals

Spell out your business values

Remind yourself of your source of inspiration

Describe your business concept

Identify your strategic position

Decide whether you want partners

Decide whether you want investors

Consider potential exit strategies

Discuss the impact of starting a business with your family

If you were building a house, before you drew up the blueprints, laid the foundation, or even bought the land, you’d first have a vision of what you’d want that house to be: big or small, one story or two, in the city or in the country. You’d have a “vision” of your future home. The same is true when building a company: You need a vision of what you hope to achieve.

When you imagine your business, what do you hope for? To make a lot of money? Use your creativity? Have more flexibility in your life? Do you see yourself working alone or building a company with employees? Do you hope your company grows very large or do you want it to stay small?

As you launch your new company, it’s important to clarify and evaluate your business concept. What is your long-term vision? What are your personal goals? What do you see as the business opportunity? From that, how do you define your business specifics—what it does, whom it serves, how it differs from the competition?

Six-Week Start-Up

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