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Things to Consider after Setting up A Business

Updated on May 6, 2012

Business Plan

 

A business is that principle activity in your life that you do in order to earn money. For a continuing business to grow, one needs to have a business plan, which is a statement about a business enterprise, its attainable targets and plans of getting to these goals. We have to have an aim, an objective and a target in mind before we look at situations, conditions and occasions that offer themselves as good business environments. It does not matter whether you are a sole entrepreneur or owner of a micro enterprise, a big business enterprise, commercial enterprise or a big corporation. Whether your aim concerns major changes or new ventures, the writing of a business plan stirs the following questions:

Am I comfortable in this business sector?

What volume of commercial activities do I aim or target for?

Who else am I going to serve?

What kind of patronage does my business involve?

What new idea do I want to embrace, deal in or service can I offer?

What level of financing do I need above what I have?

What are the immediate objectives and long term objectives?

How is the current market for the services I want to offer?

 

Do you seriously want your business to succeed? Well do not be surprised when some ideas arise from the least expected sources.

The Ant

by Fir0002/Flagstaffotos under the GFDL licence
by Fir0002/Flagstaffotos under the GFDL licence | Source

Ants

An ant is a very tiny creature that always mesmerized me as I grew up. I still can’t help staring at it in my maturity for the simple fact that it seems to work tirelessly. It makes me wonder about its source of strength.

When I consider the weight of food I take for a day’s work compared to the ant, I’m puzzled even more. Where does this tiny creature get its reserves of strength to keep working all day long? Remember, all is well with the ant so long as it continues to work hard. Apart from using ants in our cuisine, medication, rituals, aeration of our soils and as biological pest control agents, ants also provide a higher intellectual contribution to our lives. Anyone who contemplates doing business successfully is wise considering these tiny creatures.

There are many varieties of ants. They include the army ant, bulldog ant, carpenter ant, driver ant, fire ant, legionary ant, little black ant, pharaoh ant, slave-making ant, slave ant and the wood ant among many others. Whichever name they come by, we will observe that they all behave the same way under almost similar rules.

And yet we can borrow a lot from their wisdom that lacks an overseer, manager, guide, supervisor or lord over their actions. It is as if ants work under a carefully thought out business plan that is geared towards specific goals and an intended audience. The ant’s maneuvers can be observed to carefully cover the following key areas in business plans:

· Financial management

· Resource management

· Property management

· Supply management

· Operations management

· Marketing

The Wisdom of Ants at Work

 

Proverbs 6:6-8 offers an elaborate plan that anybody can follow and attain their intended results. It says “Go to the ant, thou sluggard; consider her ways, and be wise: Which having no guide, overseer, or ruler, Provideth her meat in the summer, and gathereth her food in the harvest”.

From this simple statement, we gather five important things:

i). Management: we have to get to a place where we need no supervision. An ant has no guide, overseer, or ruler. We need to be self-motivated and be willing to do what needs to be done in order to attain our objectives. Be your own manager.

ii). Wisdom: what an ant lacks in strength, it covers for in wisdom. Consider an ant’s ways and be wise. An ant works with a lot of diligence, creativity, innovation, it uses its wisdom to exploit its knowledge while capitalizing on its understanding of the immediate environment.

iii). Plan: in order to succeed and be the best at what you want to be, you have to strategize and plan for your success. An ant stores food in summer. Lay down a plan for the future. Take time to plan for that expansion, profit, productivity, houses, vehicles etc.

iv). Hard Work: a saying goes “There is no gain without pain” If the tiny ant knows this, then man should know this better. The ant works hard in summer knowing that winter comes when it cannot work in comfort. It works despite the heat or difficult summer conditions. It is best to pay now and eat later than do the opposite. Don’t wait for perfect conditions. Whether the economy is up or down, ensure to work hard.

v). Patience: Ants are time-conscious and use time wisely. They know when to sow, weed and harvest  as in “Provideth her meat in the summer, and gathereth her food in the harvest” A good businessman or woman knows the seasons. Patience over investment is paramount if a good harvest is to be realized. Wait for the harvest. Consider how to plough back some of your profits to realize growth.

YouTube Video on writing a Business Plan

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  • Anjili profile image
    Author

    Anjili 6 years ago from planet earth, a humanoid

    Thanks Dee

    Your views are most welcome and highly encouraging. Do come again

  • Dee aka Nonna profile image

    Dee aka Nonna 6 years ago

    I love the way you presented this and you analogy using the ant. A good busines plan does not have to be elaborate or wordy...what it does is help provide focus. People who think they don't need one really should ask themselves all the questions you listed. Great hub!