There is nothing more exciting than starting with a blur idea and then suddenly realizing that you have made that idea a reality. Entrepreneurship is a quest where you take on challenges and solve problems step by step to get closer and closer to realizing your purpose.
I have had the privilege and pleasure of being involved in the start-up and scale-up of dozens of projects. No two projects are the same. It requires vision, creativity and perseverance to design and implement the appropriate solutions.
Nevertheless, I have put all this together in a model, a roadmap through which you go with your project during the 3 life phases of your business: start-up, scale-up and sustain-up. In reality, however, this is not a linear process. Depending on your project, certain steps are more or less important. Certain steps come in one or another order. Sometimes you walk a procession of Echternach, go one step forward and then 2 steps back again. Either way, there are 2 steps that are indispensable in my vision. That is the first step: start with a business plan. And the last step: Contribute to new projects. This is how we create the positive ripple impact that our society so desperately needs.
1. Create a business plan
It starts with making a business plan, but not just any business plan. We work with the QP business manifestation canvas. We start from the intention to make a positive impact in society. We then translate this concretely into a product and sales strategy. The figures are an indispensable part that make it clear at a glance what the next concrete step can be and what is needed to make the project financially feasible.
2. Communicate story
It starts with creating a business plan but not just any business plan. We work with the QP business manifestation canvas, QP Canvas for short. We start from the intention to make a positive impact in society. We then translate this into a concrete product and sales strategy. The numbers are an indispensable part that clarify at a glance what the next practical step can be and what is needed to make the project financially feasible.
3. Connect with partners
Doing business together is much more fun. If you do business alone then you become the slave of your business. You do everything yourself, the things you like and the things you don’t like. With multiple partners you can divide the tasks. If the core team is put together correctly then everyone can do what they like best and are best at. With the right partners, 1 and 1 equals 3. Your project will be more supported, more stable and more resilient.
4. Collect funding
If you have a good project then there is always a strategy to raise funding. Especially if you have convincingly worked out the previous 3 steps. It is common at start-up to crowdfund from family and friends and immediately spend this capital and put it into the project. But there is a more sustainable way. You can use this capital to generate a monthly operating budget, for example. Besides, this is much more appealing and more secure for those who lend you the money. In our mentoring program we go into more detail about these and other funding strategies.
5. Cultivate team
As soon as you have the funding in place, your team can grow as well. If all noses are in the same direction, then you can go like a rocket. It starts with selecting the right employees. This involves not only skills but also drive, values and mindset. But even in the best teams, there are sometimes conflicts. How do you deal with that. How do you make sure they stay on the same page and work together constructively in the long term? Besides, it is always good to involve customers and suppliers in your core team.
6. Construct system
The more people that are involved the more important it becomes to work out procedures. This provides guidance, clarity and structure. This ensures efficiency and predictability. With a sales system you know how much turnover you will get each month and which bills you can be paid. With a marketing system, you know what communications you need to make the impact you want. You can easily scale up systems. You can share systems with likeminded regional organizations so they can successfully roll them out as well. At this stage, the company is organized in such a way that it can continue successfully even if the founders, initiators choose to no longer be actively involved in day-to-day operations.
7. Convert to resources
The economy has ups and downs. Just as it is wise for families to set aside money and invest for worse times and/or a rainy day. So is it with organizations and businesses. Especially in uncertain times such as today, it is good to set aside some of the profits for shorter or longer periods of time. You might consider investing in real estate, precious metals and/or financial products that are safe while making a nice return and/or creating working budgets. At this stage, your business becomes relatively crisis-proof and truly sustainable.
8. Continue creating impact
Always remember why you started your project. Keep tweaking where necessary to continue to make an impact for the benefit of society. Times change, needs change and opportunities arise. Perhaps there are now other ways or tools to help make an impact. Make adjustments where necessary, but always respect the company’s sustainable DNA. Always consider the win-win-win principle. Provide a win for everyone involved in the project: the customers, the suppliers, the team and partners, the founders, the investors and win for the greater good, society and the planet.
9. Contribute to new projects
Finally, you can support new start-ups or start spinn-offs and create a ripple effect. As a successful and experienced IMPACT entrepreneur, you can choose to be a mentor for new ventures. As an IMPACT investor, you can choose to contribute financially. Making impact and making change for the better, with a win for all. This is the ultimate goal for all members of our QP Impact Club.
Join the club
Do you feel inspired to join us in the QP Impact Club?
Start your quest today with the free online video training.
Author:
Sandra De Milliano
Thank you for sharing this post to anyone who could benefit form it.
Let’s create, connect and care.
