A musically inclined person hears music in everything. On a busy street with cars driving by, people talking loudly, road construction noises going on, dogs barking, planes flying overhead, etc., the musically inclined person can easily pick out the rhythms from the chaotic sounds. So too, an artistic person sees the pattern in any scenery and can easily retrace those patterns to paint beautiful portraits of the scenery.
As with the musical and artistic minds, an entrepreneurial mind sees the planning aspects of everything and is always questioning who what when where why. For example, you'll see or hear a commercial for a product and your mind will immediately switch into ''business plan mode'' and the questions will start to pop up in your head: I wonder how much money they make with that product? I wonder how many people buy that product? Who came up with that product idea, anyway? Who made this commercial? and so on.
To help your entrepreneurial mindset, which is always seeing the planning aspects of things, you should master the 7 components of the modern Business Plan. When the questions start popping up, you can mentally work through the 7 components. Mastering these components can also help you quickly and easily determine if an idea is a good idea for the current market. The entrepreneur's mind is overwhelmed with tons of ideas -- everyday.
The 7 Components of a Business Plan:
- Executive Summary
- Business Description
- Market Analysis
- Organization Management
- Sales Strategies
- Funding Requirements
- Financial Projections