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Viresh Prahalath
 
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Article views: 53
 
 
 

Passionate Entrepreneurs: What’s your score?

17 March 2014, 16:08

You may have a burning idea that reduces your levels of sleep and pops in during your 5AM shower or while you work the circuit at the gym. That’s exciting and quite peachy, however an idea simply isn’t enough. You probably need a S.C.O.R.E.

To start off I would like to say that I am not affiliated to Score.org in any way and I am not being paid for this editorial coverage. I do however see the immense value of testing your business ideas before you run with them and that’s what the S.C.O.R.E business plan template does.

The S.C.O.R.E business plan template asks budding or established entrepreneurs around 150 pertinent questions that will help you systematically think out various aspects of your potential business. If you answer each of these questions with honesty, you have a much greater chance of success than assuming people will buy into your killer idea, ‘just because’.

What does the S.C.O.R.E business plan cover?

Everything really. The description of your business from legal ownership right down to services and hours of operation. The marketing section asks you the difficult questions that many aspirants leave out: supply and demand; why would consumers choose your product and not the competitors?; what strategy will you implement to market your products? There’s also income and projection statements as well as the vital question of how you plan to raise start-up capital. Definitely worth a look at.

In South Africa alone, consumers register around 10,000 businesses a day, so if you believe that consumers are just waiting for you to finally get up out of your comfort zone and start taking action, think again. The competition is on.

What makes a great entrepreneur? I’m sure we’ve been through enough scintillating reads to know it is the individual who takes action and works to turn his ideas into a reality. A good part of this work is thinking hard and fast and keenly placing your attention on areas that work. The S.C.O.R.E template is a good place to start.

What also makes a great entrepreneur is an individual who understands the nature of the busy mind of the average leadership type personality. If these ideas are not put onto paper, they simply bother you and end up wasted in poorly thought out tries. Get with the program from day one and you will save yourself a great deal of time and energy.

Check out the template here, it’s FREE!

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