Emotional Business Plan In 2022
Emotional Business Plan : These reflections are formulated as questions that every entrepreneur should ask himself before, during and at the end of his business adventure. They can help the new entrepreneur to better understand the reasons that have led them to set up their own business and, based on that self-knowledge, to make better decisions. Center for Coaching Studies has issued a list of reflections aimed at entrepreneurs, both those who already have their project underway, and those who are thinking of doing so in the near future.
These reflections are formulated as questions that every entrepreneur should ask himself before, during and at the end of his business adventure. According to those responsible for the CEC, they can help the new entrepreneur to know better the reasons that they have led to set up their own business and, from that self-knowledge, to make better decisions.
The entrepreneur is usually quite rigorous when preparing the issues related to the business plan, market analysis or cost structure. But there are factors and more emotional issues that underlie the purely entrepreneurial that are also determinants for the smooth running of a business. These issues constitute the other “business plan” that every project should have and that are not always taken into account, “says Miriam Ortiz de Zárate, managing partner of the Center for Coaching Studies.
There are businesses that, a prior, are very well designed, and that, however, make water after a while for reasons that their own managers cannot explain. And many of those failures could be avoided if the entrepreneur had done the exercise of asking the right questions before making a certain decision.”
The Entrepreneur’s Emotional Business Plan In 8 Questions
Why create a company? It seems like a no-brainer, but we rarely stop to analyze where the energy that leads us to take the entrepreneurial path comes from. What is the real motivation? We may be carrying out our dream, but it may also be that we are trying to run away from something (for example, walking away from a job we do not like). Some entrepreneurs start their project because they resent their company and, deep down, seek revenge by making them the competition or taking their customers. Anger is a very powerful energy that can provide the momentum needed to get started, but to keep an entrepreneurial project going takes much more.
What do I need a partner for? It is common for the person who has the initial idea to invite others to join the project. Before making such a significant decision, we should ask ourselves why we do it. Is it because we need other complementary profiles that provide capital, contacts, knowledge, skills and abilities different from ours? Is it because we don’t want to undertake that adventure alone? Or maybe because it’s what’s expected?
What do I focus on when looking for travel companions? Continuing with the reflection on the partners, where do we put the focus when choosing them? What factors should you take into account? We often look at economic factors such as the ability to contribute capital, forgetting many other elements as important as the quality of the relationship, to what extent we are aligned in values and guiding principles or if we have a shared vision of the project. It takes many prior discussions to highlight all these aspects.
Are we ready to let go of our initial idea? Many entrepreneurs start a project from a brilliant and generating idea. However, it is most likely that this idea will be subjected to many adaptations and changes throughout the gestation process. Sometimes, the difficulty is to have enough flexibility to get on this current of change and adaptation, which will surely occur from day one, and accept that some aspects of the project will undergo modifications.
What aspects of my project do I want to keep at all costs? It is also important to reflect on the opposite idea. What do I need to maintain,” what is the essence of my vision that is important to me to keep? It is important to answer these questions, to be in touch with those principles and values and not to renounce them, since they are the backbone of our proposal.
Are we sabotaging ourselves? Although it may be hard to believe, we are able to sabotage ourselves in many different ways. Every time we say to ourselves: it’s very difficult, I’m not capable, this is out of my reach, we’re sabotaging ourselves.
Many good ideas fail to pass these first barriers. But even the most daring entrepreneurs face these kinds of difficulties along the way. The fear of failure, of not being up to the task, of not being good enough or of our ideas being rejected by the market can play tricks on us and make us avoid or delay certain actions. It is important to be vigilant to identify these types of situations. Because if we are able to realize that we are putting sticks in the wheels, we will be in a position to do something about it.
How do I prepare for conflicts? We often live with the fantasy that, if we do the right thing, we will reach a place of balance and calm, free of conflicts and vicissitudes. This is never the case. Conflicts are part of life, we could even say, that they are a healthy aspect of relationships.
How do we prepare to approach them? Are we able to live with them normally or when they appear we feel frustrated and disappointed? And above all, do I have the right tools to deal with them? Properly managing conflicts requires self-knowledge, proper emotional management and the ability to set boundaries.
Am I ready for my project to finish? Companies, like living beings, also have a vital process of birth, growth, maturity and death. Having the ability to intuit what vital phase we are in is essential to identify that moment in which the project has reached its end. When the time comes, it is just as important to consider the administrative and financial aspects as the emotional ones. A good closing greatly helps the people involved to complete the cycle and to accept that when one door closes, others open.
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