Part 2 Episode 6: Why That Plan Turned Useless. ~ LEOFINANCZ

In part one of this episode, I told a story of how a superb plan of mine went useless for some silly reason. This evidenced that writing a plan is not a reasonable point in starting a business where an entrepreneur should take a sip of coffee and stamp his backside on a couch. There was something more.

Venturing into a new business model or a replica necessitates the right mindset and determination. But we keep making the mistake of bouncing into any business venture we think of as more profitable. This should not be the case; instead, it is best to stay with your passion and make an Action plan which we will discuss later in this series.

In the first part of this episode, we discussed and expanded on how fear could robotically render your life and business plan void. Now, we are going to be discussing other critical reasons that can and will make your plan go belly up if you don’t take heed.

#2 Unwillingness to Take the Little Risk

Virtually everything you want to do in life will have a certain amount of risk attached to it. Take for instance, when you want to take on a second job to make up for the extra expenses. Sometimes, it gets exciting, but you will face the risk of being belabored and having limited time for yourself and family.

You probably didn’t count that one as a risk. But sure, it is.

Virtually everything is risky, so you should be keen enough to understand that you will stumble upon a certain amount of risk along your path to any career. Nevertheless, there are good and bad risks, therefore carefully do your analysis and if it’s worth it, go on with it and build that plan into a prodigy.

#3 Insufficient Education at the Early Stage of Planning

You need to start taking into consideration who advises or coaches you into a business or career path. This is because this criterion has about 60% influence in your productivity and future success.

I was not trying to criticize my friend like it sounded in the later part of this episode, but the fact remains that I would have better accepted the negative part of chicken farming on my first meeting with Francis. What he should have done was to spill out everything — all I needed to know; and then give me precautions I should have taken to avoid a total loss. I always thought if that was the case, then what Charles said wouldn’t have mattered much to me.

In essence,

Make sure you get all the necessary information you need to have on a particular subject before delving into writing a plan. Adding chunks of information to your plan from time to time will only ruin it and the majority never go through the stress of writing another; which results in a useless plan.

So, gather every possible knowledge, consult professionals in the field, and learn to ask open-ended questions that will completely unravel all you need to know about your prospective plan before fully venturing into it.

A couple of open-ended questions you should consider asking are

What is the risk ratio of this business?

Would you mind if you shared a little about your own experiences?

How long will my investment take to appreciate?

Why do you encourage me to launch into this?

The answers to these questions will get you empowered and solidified. And if by any chance you get convinced about following the career path or business, you will hardly sway from focus. One thing open-ended questions can do for you is to make you a staunch believer in the plan.

#4 You Chose the Wrong Mentor for Your Plan

This is one of the major causes of a barren plan. What results in our lives tends to revolve strongly around the values we garner from our core mentors. The core leaders and mentors in our lives have a great influence over how we react to different situations. This actually happens subconsciously and eats deep into us.

Consider the old saying, “show me your friend and I will tell you who you are”

That’s just the principle upon which this works. It can be a force for good and at the same time, a catalyst for evil. The best way to harness this power is to avoid the wrong mentors as much as you can and seek for mentors that possess the potential to drive your plan to its destination. A good way to discover good mentors is to get feedback from friends who have used their service, read other clients review if they have any. You can also get in touch with them for a one on one chat; and in fact, this is the one I recommend.

#5 The Quick-Win Syndrome

Try to redefine your perception of success. Success does not consider how fast, it considers how well. Though the time taken to achieve your success does matter a little, what speaks volumes is the quality of the success after that time has been taken. So here is what I recommend, take the extra time to come up with the best and the world will celebrate you for it.

Take for example these two great inventors, Thomas Edison and Henry Ford. They were able to influence the world through their inventions. But while they achieved that great success, they had to overcome an outrageous enemy which is the quick-win syndrome. This is the only way they could persevere enough to get around their success. The average inventor, entrepreneur, author or writer will say he's tired of working so hard without result and consequently quit. But these two men were something else.

Here are some facts to note.

Do you know It took Thomas Edison 1000 failed attempts to achieve success in his light bulb inventions?

Do you know Henry Ford left his family farm at the age of 16 and went to work in a machine industry after which it took him 17 years extra to develop his first automobile?

Now, what is that business plan or career you hope will yield a billion dollar in just 5 months. Author and investor Robert Kiyosaki in his book: The business school for people who like helping people, explains that it takes an average of 5 years to build an ideal business. This allows you the opportunity to learn from your mistakes, get better and keep kicking until success is achieved.

Therefore, you should have a certain tolerance and patience for the profit time of your business. Kick the quick-win syndrome in the butt and then take your time to build a business or career that will stand the test of time.

Does this episode of the series: how to start your business today with little or no capital; communicate something to you? If yes, share it with your friends and continue with this series.

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What other reason have caused some plans you wrote not to yield? What else has continuously hindered your career? Share in the comments below.