For many aspiring entrepreneurs, getting started is the most daunting task. You have an idea but how do you get started? Where do I go from here? Colin C. Campbell discusses the critical importance, along with a framework, of planning during a startup’s early days on this session of The Complete Entrepreneur.
Colin shared his ‘Four Step Sticky Note’ plan: a simple, practical method to prepare for and carry out the progress and success of your company in the early stages. More informal than a typical business plan presented to investors, this four-step system encourages alignment and synergy company-wide on goal setting and achieving in a clear and concise manner. And, yes, keep it to the point and on actual sticky notes. Colin considers each fundamental aspect– Story, People, Money, Systems– crucial to overall success and the components that make your business ‘go.’
Check out Colin’s framework below and consider applying it to your next venture or strategy planning sessions– whether it’s your first or hundredth.
- Story– What is your purpose and mission? What is the space you want to own? What are your four pillars and values? What is your X-factor that sets you apart and gives you a competitive edge?
- People– Is everyone aligned and working in the same direction? Who do you need to launch? Who do you need to hit the stage gate? Set up a stage-gate, where do you see yourself a year from now? What do you need to hit the stage-gate?
- Money– How much money do you need to launch? How much money do you need to get to the first stage gate? How will you raise it?
- Systems– Goal setting and execution planning: What are your quarter 1 goals? How are Key Performance Indicators (KPIs) set and managed? What are their expectations?