Make a Plan for Your Next Endeavor
 In Business Tips

Last week in my newsletter, I wrote asking whether you were a yes or a no person. The issue was people having a tendency to be one way or another and those who chronically say no block action and attain safety and those that say yes open themselves up to adventure and experience.  As you can image, this topic stimulated a lot of feedback and discussion.

One of those discussions was with my daughter who is an associate brand manager for a restaurant group. She told me that her group has a saying in their marketing meetings when someone is shutting down ideas that they are being a  “poo in the pool”.  I thought that was really funny! What an apt description of the naysayer  bringing something up that shuts down all action on a project.On the other hand, it is necessary and important that someone be willing to bring some reality to a proposed project.  A good idea should be able to stand up to a little scrutiny.  Too often people go full speed ahead on an idea without thinking through what’s involved in the actuality of it.

Take the situation of a potential job idea. Sit down and do a one page plan. It is not complicated.

My rule of thumb is to first determine the minimum amount of money you need to make in a year to live the way you want to live.

Bump that number up to cover the taxes you will have to pay on the income received.

How many widgets will you need to sell or services will you need to provide at what price point to make that much money?

How much will it cost you to make the widgets or the services?

What will you have to do to get the business?

How much money and time will that take?

Is it feasible?

A lot of people may feel like doing the plan is being the poo in the pool, but maybe it is just making sure that there is no poo in the pool before you jump into it. Hmmm?

There are many ideas that are great hobbies or fun activities but aren’t going to be sustainable as money making propositions. Other times, people have great ideas that really could make money but they aren’t willing or able to actually do the work involved.

Thinking your ideas through is not being a poo in the pool it is good planning.  If your idea passes muster then full speed ahead on your new endeavor.

Recent Posts

Leave a Comment