Read a sample start up business plan or two as you learn to prepare your own details business plan. Next we'll discuss the importance of The Key Risks & Obstacles section of a solid business plan.
For obvious reasons many business owners are not comfortable including risk issues in their business plan. Not only do they wish to avoid the topic in the boardroom, but many just don’t like to address potential obstacles out of fear.
"Risk is greatly minimized by detailed preparation and planning."
In addition, many entrepreneurs are programmed with optimism and they pride themselves on being able to overcome obstacles as they are presented. Some simply wish to avoid any confrontation on the subject of risk.
In our sample start up business plan guide, we address the topic of key risks and obstacles. Do not sugar-coat any identifiable risk that you may face in carrying out your business plan. In fact, by addressed the risk squarely in your business plan you provide an opportunity for others to advise you on dealing with the issue most effectively.
Use the following steps for presenting risk and obstacles in your business plan:
Make sure you have researched all possible means for insuring your business against any potential loss for each risk or obstacle. For example, if one of your key leaders has skills that would be greatly missed should he all of a sudden be killed or incapacitated, the organization may want to protect itself with a term life policy.
Learn more about our sample start up business plan course and The Key Risks & Obstacles section, by reviewing these free sample business plans.
Everyone knows someone who regularly complains about how he or she would have been a great talent if only they grew up in a place that was more nurturing. They use the unkind conditions of their youth as a reason for being who they are; the person they aren’t totally satisfied with.
We can suggest to those persons who are discontent about their upbringing, that some of the greatest characters in the world’s history consist of men and women who struggled through the harshest of realities.
These great achievers would no more trade their early struggles than they would cut off one of their own limbs. They now realize it is in the struggle to overcome adversity that makes men and women great. When reading a sample start up business plan, see if you can find any mention of past struggles that has forced the business leaders to learn and grow.
The fight against inhospitable surroundings is what develops extraordinary willpower and determination.
The true strugglers, those born to a heritage of poverty and hard-knocks, and not those who were reared in the lap of luxury, with few exceptions – have become the leaders of civilization. These men and women are known as the giants of our race: Abraham Lincoln, Martin Luther King, Jr. and Helen Keller are prime examples of this trend.
"Adversity tends to mold a person into his/her best self."
A great number of people are never awakened to their true power until ruin confronts them. They do not know how to call out their reserve energies until they are faced with financial or physical disaster.
Only then are they capable of responding like a thunderbolt to overcome the adversity facing them. What seem at the time to be cruel misfortunes often prove to awaken, inspire and compel people to take action.
At last, having fought the battle and weathered the storm, the boy is a man and the girl becomes a woman; both are now admired for their fortitude and character and are indeed a force to be reckoned with.
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"You can issue all the memos and give all the motivational speeches you want, but if your people don't see you giving your best effort every day, neither will they."- General Colin Powell