To start or grow a business, first, plan your life. Then plan your
business around it. Some of the most successful and happy people we know
are business people and entrepreneurs who created businesses that
perfectly in sync and fits who they are and what they want in life.
you do what you love, you'd work better, harder and happier.
In this step we will focus on: Life Planning - Elements and Practical Applications
Elements of your Life Plan
Know where you're at
thoroughly and in-depth about where you're at now - be it financially,
relationships, play, work and career, whatever that's important to you.
Be honest about it.
It may be tough, but it's good to be real and honest
to yourself. List them down, and then rate them on a scale of 0 - 100,
with 0 being horribly wrong and 100 being the best it can be on each
Think and list and rate your life including current
responsibilities, availabilities to start and fund a business, current
expenditures, things that makes you happy, and things that make you sad.
Know where you want to go or be
is where I'd like you to envision where you want to be or where you
want to go ideally.
Make it a brief and succinct list; there's no
restrictions so don't be afraid of putting down what you want, no matter
how big your dreams are. Take note of things such as quality time with
loved ones, having hobbies that you enjoy, philantropy and charity work,
early retirement - whatever you get passionate and excited over.
You should include Your Loves: Things You Really Enjoy Doing this
are stuff that you love and enjoy doing - it can be work, leisure,
being at a coffee shop, laundry. It doesn't matter. What matters is you
enjoy doing them,
Your Skills And Talents: Things You Do Well list
down your skills, talents and strengthsn that you can capitalize on to
build your ideal life. Don't just list your "work and career" talents,
list down your plus points from your personal life as well, such as
baking, communicating etc and
Your Track Record: What You Have Experience With write
down your achievements and accomplishments in both your professional
and personal life that is most dear to you. Pay attention to
achievements that you've had that would be beneficial to start a
Know Your Ideal Working Style
you prefer a part time or full time gig? Where would you like to be
working - at home, at the local coffeeshop or in hotels whilst you're
You need to know what are your working style preferences so
that you can define the best kind of enterprise and business for you. Another
way you can look at this is that it asks you what kind of risk-taker
For starting up, I'd usually prefer to go with a trade or
business that has low risk and pressure and cost, to moderate to high
returns (actually I still keep this pattern of entrepreneurship with me
Your Manifesto What
is your personal vision, mission and purpose? What would you like to be
and to achieve? What are your values, what drives you and keeps you
going? Write this down into a maximum 200 word statement, with a
summary. Draw from all the points above and bring it all together into a
clear life principle and priority.
My example manifesto:
As the founder in NigelChua.com, I define
Work Is Purpose In Action,
when I work, I bring values and principles I believe and stand for to
the people whom I serve. My purpose is to help individuals to increase
their quality of life and living by increasing their income through
businesses, employing solid and simple personal finances, and to grow
personally. That is what that keeps me growing, makes me cry when people
achieve happiness as I help them, and makes me want to do better and
serve more. I love what I do. There's nothing more thrilling to me. I also define
Work As Freedom
- I work to deliver top value to my readers, my clients, my family, my
friends. I don't work for the benefit of some nameless and faceless
corporation. I'm free to choose and deliver the value of business I
conduct. I'm free to choose the way I spend my time - if I so determine
I'd like to spend more time with my family or my readers, it's up to me.
I'm free. And so are you. Lastly, I define
Work As Friends
because I enjoy working with people whom I know and like. Often, in a
new working environment, I'd go looking for people to meet and connect
with, so that I know all the people whom I work with. This was I feel
that we're all connected, have a common focus and purpose, trust and
respect. This empowers me and this pushes me to do my best, knowing that
there's people whom I know who'd need me to do my part.
Things You Got To Do To Get Started
Here's some simple actionable plans you must develop and take to
change your Life plan Survey to a real-time action plan. So at this
point in time, you'd know where you're at, where you want to go, what
you enjoy and do well, and the kind of work settings you prefer.
this Life Plan in a place where you can see it clearly and plainly -
seeing and knowing that it's nearby will constantly serve to remind you
of what you want, your priority and what you need to do next.
you should periodically relook over your Life Plan to measure, compare
and assess successes and failures and make adjustments wherever
necessary. It's alright if things change over time - life is dynamic and
changes are natural.
Now that you have your Life Plan in place,
use it and bear it in mind whenever and wherever you need to make
strategic planning and decisions; including niches you choose to work
in, business models you'd opt for, if you will have employees or not, if
you'd be home based or have an office.
Most important is that it will
help you position yourselfe to do what you love and that will bring out
the best in you, your business, your relationships, your life.
Hello, I'm Nigel - husband, father, Christian, entrepreneur, dividend stock investor - I enjoy entrepreneurship, passive income, reading and spending time with family. Read more about me here or start here.
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