Four Guidelines for Picking the Right Idea For Your Startup:

1) Your idea needs to do at least one of three things:

Make something difficult easy: For example, AirBnB made finding an apartment rental easy. In fact, almost all businesses derived from Craigslist follow this criteria-- they make exchanging things between people very easy. My startup, GiftRocket, makes it easy to buy a gift for someone anywhere in the country. Even social tools like Facebook and LinkedIn make staying in touch with people easy, though that is a bit more abstract. Just to test the ubiquity of this quality, I checked the companies in YC's W11 batch and 83% fell into this category.

Make something expensive cheap: Hard technology companies like Apple make the most advanced technology available to a consumer in an affordable package. Deal sites like Groupon do this far more directly. People care about money, and if you're offering them something for a discount, there's a clear value proposition. I did a quick count, and 14% of YCW11 companies matched this quality.

Make something that entertains: Music, gaming, video, and media companies entertain. Zynga solves problems of loneliness and boredom. 23% of YCW11 companies checked this box.

These are all a more specific way to say that your idea needs to fulfill an existing need, and more generally should be something people want.

2) Pick something with a big market pain.

Market size isn't always a great indicator of potential for success. The better question is how happy are you making your users? If you make a few users exceptionally happy, that might be far better than making a lot of users marginally happy. That means that the market for your product may be small, but if you're creating thousands of dollars of value for those users by solving a major problem for them, they'll seek you out. User acquisition and marketing problems just go away.

3) Commerce ideas are very different from social ideas.

Social software (e.g. foursquare, Instagram, Twitter) follows a different path than ecommerce. These companies have userbases that are valuable because of their engagement, and are ultimately monetizable for their data. Foursquare sells their data to local merchants. The key metrics for companies like these are user growth, virality, and engagement.

Compare this with ideas that have a clear business model from the start. For example, Hipmunk and SeatGeek make money on affiliate for flights / hotels and ticketing sites. The key metrics for these businesses are revenue, and eventually margin.

There are big impacts for how you get users to your product depending on which one of these your idea is. Social software usually has to rely on word of mouth and virality. On the other hand, commerce businesses have more concrete customer lifetime values and can buy customers and traffic using ads.

4) Pick something where you can empathize with your users.

Ideally, you would be building something for yourself. However, a lot of founders are able to build something that they don't regularly need-- it just requires that they are good at getting and acting on user feedback. So for example, if you were building some software you needed at your old job, you still might need to build it with the interests of the procurement officer or IT manager in mind.

How to come up with good startup ideas

1. Keep a log of things that you use that were not good throughout the day.

Life is full of inconveniences, and the neurotic complainers actually have a huge advantage in this department. Every time I get in the cab line when I get to the airport, I always think "there's got to be a better way." Out pops an idea like Uber, or some sort of ride sharing service that helps me split cabs with people nearby.

2. Look through your business and personal credit card statements.

If you're already spending money somewhere, is there a way to cheapen the amount that you're spending? Or do you feel like you're not getting your money's worth on something you bought? Spend statements are a great way to see where there are big markets waiting for disruption.

3. If you work for a company, think about some of the biggest issues that you face.

I was a former management consultant, and version control for documents and powerpoint files was a massive problem for us. I would stay up late at night writing a deck, and find out the next day someone else was working on that same section. Other times, I'd realize that I was using an older version of a deck, working on slides that had been deleted in later revs. There should be solutions to those problems out there, but what exists isn't still sucks. I'm convinced every company out there still has multitudes of these problems, and if you've ever worked for one you've probably encountered them.

In Conclusion

Given even the most experienced investors miss out on ideas that end up being very successful, the only real way to know whether something will be successful or not is to launch it and see what happens. There's no shortage of ideas. Every YC demo day, including the one that just happened, there are always 4-5 companies where everyone wonders "why didn't I think of that?"

But before dedicating your life to a startup idea-- it's certainly worth having a good brainstorming period of a couple weeks, or even months, where you familiarize yourself with the spaces out there and commit to working on something.

Article Source:http://onstartups.com/tabid/3339/bid/64782/How-To-Pick-The-Right-Idea-For-Your-Startup.aspx

How to Create a Winning Employee Retention Strategy

 

Most business owners and managers think retention is based on compensation issues--wage and salary levels, incentives, and golden handcuffs--when in reality the drivers go much deeper into the human psyche to the actions and attitudes that make employees feel successful, secure and appreciated. As a result, a sound retention strategy should focus on and tactically address four key elements--performance, communication, loyalty and competitive advantage.

1. Performance. The benefit of having measurable objectives for employees is fairly obvious to most business owners and managers, but this perception usually stops short of relating performance metrics to employee retention. Study after study confirms that people have a deep desire to feel they're succeeding and that their talents and capabilities are being used in a way that makes a difference to the business. When people sense their actions are fulfilling this desire, they begin to develop a sense of belonging and a feeling that your company is their company.

Human beings are often the happiest when they're in the process of achieving a goal. Clear, achievable objectives that gauge personal, team and company performance provide the feedback employees need to confirm they're making valuable contributions and accomplishing desirable goals.

2. Communication. The second essential element in a retention strategy is communication, specifically a communications process that's structured to inform, emphasize and reaffirm to employees that their workplace contributions are having an impact. Since we're dealing very directly with how employees feel about their performance, the company and their work environment, the question becomes, "How do you know how they feel about these matters?"

Properly done, communication with your staff will provide you with the insights you need in order to know how your employees feel about working for your business. Do you communicate on a frequent basis with your employees? Do you have regular meetings with your people? Is it two-way communication, and do you have a nonthreatening channel for them to offer comments and suggestions? Do you conduct employee surveys to gather opinions on company issues and activities? Are your managers and supervisors good listeners? An effective and sensitive communications plan can provide you with insight on exactly what's driving employee morale and how your staff members feel about your company.

3. Loyalty. The third element in a successful employee retention strategy is employee loyalty. True loyalty is not an enforced requirement but an earned response to the trust, respect and commitment shown to the individuals in your company. When you demonstrate loyalty to your employees, they'll reciprocate with commitment and loyalty to your business. Remember that people don't begin their employment with you as loyal employees, but will develop loyalty over time as they're trusted, respected and appreciated by you.

So how are you going to demonstrate your commitment to them? How loyal are you to your employees? Are you more concerned about their success or their contributions to your company's success? In actuality, these two considerations are not mutually exclusive but are both essential and should work together.

4. Competitive advantage. The fourth and final element in your strategy to retain employees has to do with your competitive advantage. While that may seem odd at first, think about it: People want to work for a winner. What sets your company apart from your competition? How are you--and as a result, your employees--making a difference in your industry, in your community, and for your customers? Take the time to identify and inform your clients and your employees about your unique competitive advantage. If your product is similar to others in the marketplace, your service can be what distinguishes you (and probably should in any case). People want to be with a winner...and that includes employees.

Together, these four elements can provide you with a retention strategy capable of producing amazing results. You may even have some of them already in place, such as performance metrics and a communications process. The key is to make sure you've integrated all four elements into a strategy for retaining employees that's grounded in a genuine commitment to serving your customers and employees well over the long haul.

 Article Source:http://www.entrepreneur.com/humanresources/article76456.html

7 common personal-finance mistakes that young entrepreneurs make – and how to avoid them.

1. Overinvesting in the business

To look more professional, young entrepreneurs may spend their savings too freely. Maybe they lease ritzy offices or purchase high-dollar equipment. Overspending on business expenses that aren't absolutely necessary can quickly erode your personal finances, says Alexa von Tobel, founder and CEO of LearnVest.com, an online personal-finance resource for women. It can be easy to burn through your savings before you even have a product or service to sell, she says. That's when young entrepreneurs dig themselves deeper in the hole personally.

Instead, "spend every dollar you have on building a really good product and get it in front of users," von Tobel says. "If your product isn't good, there's no hope for making any progress."

2. Cutting corners on formalities Tips for Business Owners on Retirement Planning

All too often, young entrepreneurs will cut corners on legal and accounting advice, notes Johnson. Maybe they know an attorney or a finance guy so they ask if they might help them get licensed or take a look at their books. But those moves can backfire. "Hire someone who is an expert in the specific field that you need," he says.

One accounting mistake, for instance, can lead to paying far more in personal income taxes than you should. And when personal finances are in disarray, it can scare off potential investors and force you to sink even more of your own money into the business.

3. Not paying yourself

Like Major, young business owners tend to live off ramen noodles and plow all of their resources into their business without removing a dime. While this can help keep cash flowing into a business -- not to mention it can be necessary to fund expansion -- it gets tricky when the business is paying your rent and buying you meals. What to do instead? Pay yourself at least a modest salary to keep your personal finances straight -- and separate -- from the business. And don't go overboard by giving yourself a six-figure salary right away. "You need to leave enough money in the business, so it can operate in lean times."

4. Failing to plan for the worst

"Young people often think they're 14 feet tall and bullet proof," Johnson says. But since they're not, they need to plan for the worst. Create a succession plan and some form of insurance to support the business if you can't run it. Johnson recommends setting up a "revocable trust" -- which, unlike a standard will, helps a company bypass the potentially costly court procedure known as "probate" and establish whom should run the business in your stead.

If you have a partnership and a business that can't easily be sold, Johnson suggests establishing a "buy-sell agreement." This binding agreement governs what happens if a co-owner dies and typically includes an insurance component that provides funding should something happen to either owner.

5. Mixing business and personal assets

Whether it's personally guaranteeing a loan or getting parents to take out a second mortgage on their home, leveraging personal assets for business purposes is a personal-finance no-no. If the business sours, creditors can go after these personal assets. "You should only use the collateral from the business, so, if it goes under, you're not liable personally for the loan," says Lynn Mayabb, senior managing advisor at Kansas City, Mo.'s BKD Wealth Advisors.

6. Using personal credit cards for business purposes

Relying on personal credit cards when a bank won't front your business money can also prove risky. Not only can you be tempted to charge things when you shouldn't, mixing business charges with personal ones can wreak organizational havoc. Just think: What if your business ever gets audited? In that instance, you'll need to provide a record of your business expenses going back at least three years. Instead, apply for a business credit card and use it only on necessary business expenses.

7. Raiding the company’s coffers

If you have two or three months of outsized sales, young people in particular tend to become overconfident, says Mayabb. Being inexperienced, they start spending the business's cash flow indiscriminately. Perhaps they need cars, so they buy the best ones on the lot only to find the next several months at their businesses aren't nearly as successful. "I've seen people drain their businesses this way," says Mayabb.

PUSHING PRODUCTIVITY

5 ways to get things done-faster!

Time-management coaches say entrepreneurs often waste a lot of time in their day, but there are strategies for being more productive. Consider these five tips to get more done in a day.

1. Break projects into smaller pieces with deadlines. You can start by prioritizing activities for every day, writing a to-do list each night and scheduling each task, suggests St. Louis, Mo.-based productivity coach Cathy Sexton. For example, Hopkins realized she needed to place a higher priority to projects based on their revenue-generating capability. Once she had a list of what to tackle first, she scheduled a specific time on her electronic calendar to handle each item.
"If you don't block out your time, everything else is going to get in the way," Sexton says. Also, consider keeping a timer next to your desk to make sure you keep to your deadlines.

2. Delegate tasks that don't generate revenue. Bookkeeping, payroll and copywriting are three tasks entrepreneurs often try to handle themselves to save money. But they often aren't qualified or equipped to handle these tasks and end up losing valuable time that could be spent on revenue-generating activities, as Hopkins learned. "They end up doing what I call lower-value tasks that others could be doing for them," says Audrey Thomas, a Minneapolis-based productivity coach. Business owners should realize, Thomas says, that outsourcing these activities allows them to devote more time to making money.

3. Stop obsessively checking email. This was another huge time-waster for Hopkins, as it is for many entrepreneurs, especially when messages are constantly flooding your inbox and distracting you from other important work. "I'd say I spend more time talking to my clients about managing email than anything else," Thomas says. She recommends setting your email program to retrieve messages only manually -- when you press a button to check it -- or no more frequently than every 90 minutes. Moreover, she says, emails that are easy to respond to should be answered immediately, so you're not wasting time reading over the same messages again.

4. Take advantage of technology shortcuts. You likely already use Microsoft Outlook, Excel and other common software programs with built-in time-saving features. Yet many business owners end up wasting time because they never learn how to properly use these programs -- and the shortcuts. For instance, Microsoft Outlook lets people move items from their inbox directly onto their calendars, but many people still manually create calendar items, says Peggy Duncan, a time-management expert in Atlanta. Simply taking a class or reading a book about how to use common software programs can save a lot of time over the long run, Duncan says. "Any situation you bring up, there is technology out there to make that work basically go away," she adds. "But people won't spend the time learning how to use it."

5. Train your employees adequately. A big time drain for owners is employees who constantly ask questions, interrupting their day. If this is happening to you, the problem may be that they're not adequately trained to do their job, warns Duncan. So make sure you have the resources and training procedures in place to best prepare and support employees in their work. Another big time waster, she adds, are customers who call with questions that could otherwise be answered on your company's website. One solution is to create a "Frequently Asked Questions" section that prominently displays the helpful information on your website. "It should be a no-brainer for your customers to do business with you," she says.

Article source:http://www.entrepreneur.com/article/220081

Article Author: Kelly Spors

WHAT SOCCER (EUROPEAN FOOTBALL) CAN TEACH YOU ABOUT RUNNING YOUR BUSINESS!

Leo Messi is the greatest footballer in the world.  His peers say so.

He plays for Football Club Barcelona.  3 of the other world top 5 footballers also play at FC Barcelona.  Leo Messi doesn’t play with his best friends from school.  He doesn’t keep a space on FC Barcelona for a friend who just happens to be available.  He doesn’t, but most business people and entrepreneurs do.

Why do we treat football differently than business?  Is it less important?  Is it more important?

How to run your talent program like FC Barcelona

At a conference at IESE Business School last week, Geoff Smart spoke to the audience about how to source, select and attract top talent to your organization.  He asked “has anyone ever hired someone who looked great on paper, only to find out weeks or months later that it was a terrible decision?”  Many hands were raised in the air.

Hiring for football is easier – we see past performance, in business it is possible to hide the past in paper (CVs).

Jim Collins, in his book Good to Great, says that the very first step of leaders who create massive success in their businesses is “get the right people on the bus”…  and the corollary…  get the wrong people off the bus.

There are four parts to hiring well.

1.       Know clearly what you want the person to achieve. Go beyond vague descriptions of skills. eg. “Analytical Thought Process” develop further to “Distinguishes key facts from secondary factors; can follow a progressive thought process from idea to idea; makes sound observations.”  Jonathan Davis, founder of HireBetter says that this is a big failing of hiring managers

2.       Go to where the best people are. Where are the best people? They are not looking at job adverts.  They are not spending their weekend reading job websites.  They are passionate about their current role.  It is unlikely that those who are actively searching through non-personal channels are top performers.  The top performers are still doing well in their current jobs. How to find the best people? There is only one way: Network. If you want talent: ask who the best people are, get to industry events, meet people at conferences. Watch people in action, know them through their activity, read their books, their tweets, their Quora profiles, their blogs.

3.       Selecting the A players: focus on the past, not the future. Don’t ever ask “how would you solve the problem?”.  Ask “tell me about a time when you solved a similar problem?” Everyone can tell you a great story about what they would do.  The top performers are not smarter, don’t have better to-do list systems, better technology.  The differentiator is that they have found the way to overcome procrastination.  They actually do the things that they say they will do. Give them a present problem and ask them to solve it. See their creative thinking, not necessarily the solution. Look for performance, don’t ask for opinions.

4.       Selling the opportunity, building the culture. Selling the opportunity to an A player does not mean “be their friend”; it means sell them on the personal growth, the professional growth the opportunity to impact the world on a massive scale.  This is what great people want.  Not more friends. They want to be pushed and demanded and be allowed to change the world for the better. Jonathan Davis says that culture is hard to build and easy to destroy. Jonathan turned down a hiring contract recently with a big company.  He told the CEO “You cannot be client of ours.  I’ll tell you why. Your VP of sales is a !@#$%^!. He won’t waste an opportunity to tell you how awesome he is.  We can help you recruit a great employee, but he will leave.” It is the culture that you build that will really attract and keep the top talent.  If you create a great culture, you don’t need to pay employees to bring people in…  they will bring their ambitious, high performing friends in.  The online shoe retailer Zappos pay $2000 for people to leave.

How do you do this without any effort?  You don’t.  Good talent doesn’t just happen because you are showing up.  One of the hardest things in business life is removing a loyal but mediocre performer from your team.  There may be bonds of friendship, there may be many good shared experiences in the past, feelings of connection.  However, the continued presence of mediocrity in your team is a cancer that will eat away at your ability to achieve important goals.  One way to reduce the pain of having to let go of mediocre performers is to get very good at only hiring star performers into your team.

My father once told me that the greatest service you can do for an unhappy, underperforming employee is to let them go – it frees them to search and find a place where they can contribute and find greater meaning.  They won’t thank you in the moment, but this is the service of a leader – it is not about giving – it is about serving; it is not about the easy answers, it is about the right answers.

Highly Demanding, with Love

How would you get Leo Messi to play for your football team?  It would help if you had 3 of the top 5 footballers in the world already on the team.  How do you attract the top talent to your team?  Build a culture of high performance around you.  This starts with a zero tolerance of mediocrity.

A participant on my course last year began his speech “I have often wondered whether it is better as a parent to be permissive or authoritarian.  Which is better?  At a conference a few years ago, I had the opportunity to speak to one of the world guru’s on child development.  I went up to him after his talk.  I congratulated him.  I asked him the question: ‘is it better for a parent to be permissive or authoritarian?’  The guru smiled and said ‘highly demanding with love’.”  It is the same as a leader – can you be highly demanding, with love.  Expect the best from those around you and they rise to the challenge.  Accept the worst, and they will coast in comfort.

 Article by Conor Neill

 Article Source: http://www.activegarage.com/origin-leaders-7-players-surrounding-people

Conor Neill is the professor of Leadership Communication at IESE Business School in Barcelona and an entrepreneur who has founded four companies. Years ago, he was a manager in the Human Performance consulting practice of Accenture. He loves rugby, mountain climbing and will run a marathon next march. Conor frequently blogs atconorneill.com and tweets as cuchullainn.

25 Essential Entrepreneurs Online Resources

When you're starting a business, where do you go to get the help, advice and tools you need? There are plenty of resources out there -- so many, in fact, that you might have trouble sorting through them all. We cut through the clutter, selecting 25 essential resources for startup small-business owners.

1. Small Business Administration. Find information, links and resources to help you start and grow your business, including SBA-guaranteed loans.

2. SCORE. Get matched with an experienced SCORE mentor to receive free counseling and advice, in person or online.

3. Small Business Development Centers. Expert business advisors at the SBDC near you can help with all aspects of starting and growing your business -- for free. And don't forget the Women's Business Centers.

4. International Franchise Association. Considering buying a franchise? Start your search at this site, which includes information, resources and links to help you find the right one.

5. BizBuySell. Looking to buy a business? This site includes listings nationwide and helps you find businesses for sale as well as business brokers in your area.

6. Bplans. Learn from 500-plus free business plan templates, read useful articles and buy best-selling business plan software Business Plan Pro.

7. Microsoft Office 2010. Make this essential business suite even better by integrating it with Microsoft SharePoint 2010 for easy collaboration, file sharing and remote data access.

8. The Company Corporation. Make incorporating or forming an LLC easy: This site handles all the filing and paperwork for you.

9. U.S. Patent and Trademark Office. Need to file for a patent, trademark or copyright? This site has the resources, answers and tools you need.

10. VentureBeat. Described by The New York Times as one of the best blogs on the Web, VentureBeat covers the venture capital industry. VentureBeat keeps those seeking investment capital "in the know" on who got funded from whom, also providing the latest on hot industries like mobile technology, social networking and green business.

11. CharityNavigator. We all realize how important it is to give back, but it's hard to know the best (and most legitimate) causes to donate to. Charity Navigator is the nation's largest charity evaluator, rating and evaluating the financial health of over 5,500 national charities.

12. American FactFinder. Get your market research started with U.S. Census and other demographic data in an easy-to-use form.

13. FedStats. Statistics from more than 100 federal government agencies to help in your market research.

14. IRS Small Business and Self-Employed Tax Center. Stay on the right side of the tax code with the latest tax news and forms.

15. FindLaw Small Business Center. Get legal forms, find answers to common legal questions and even search for lawyers at this site.

16. Employment Law Information Network. Information and advice on federal and state employment law, including guidebooks on and sample policies for all aspects of HR.

17. BuyerZone. Ready to equip your startup by buying business products and services? Visit this site to research your options and connect with sellers.

18. TopTenReviews. Before you buy or upgrade your tech tools, read the reviews here.

19. MarketingProfs. Articles, guides and resources covering everything you need to know about marketing, from creating ad copy to attending trade shows.

20. PRLog. Distribute press releases to major search engines for free at this site, which also offers tools and guides to help you write releases that get results.

21. Evernote. Bid bye-bye to Post-it notes with this app that lets you capture notes, ideas, photos and links in the cloud and search and access them quickly from all your devices.

22. Capturengo. No more typing (or losing key data) with this app that captures business cards and receipts on your smartphone and stores them in the cloud.

23. Vlingo. Make driving and working safer with this free voice interface tool that lets you browse the Web, dictate texts, e-mails and actions, or find contacts by speaking into your smartphone.

24. GoPayment. Boost cash flow and convenience by using your smartphone to accept credit cards on the go, whether at a customer's location, trade show or event.

25. FreeDigitalPhotos.net. Whether you need an image for marketing materials, business projects or your website, it's often too expensive to hire a photographer or use a stock photo house. This site boasts thousands of images available for free download and limited use (higher-resolution pictures are extra). Check with the site for any other restrictions.

 Source: http://www.entrepreneur.com/article/219967

Five Critical Questions Your Business Plan Should Answer

If I may adapt a line from John F. Kennedy's famous 1961 presidential inauguration speech to make a point about business plans: Ask not what you can do for your business plan. Ask instead what your business plan can do for you. Here are five key questions and how your business plan should help you answer them:

 

1. Is my price right?

There are two essential components of pricing that should be included in your business planning:

·         Consider whether your price is in line with your message. If you say you offer a high-quality custom product or service, you can't post a low price without contradicting your own marketing message. You should set your prices according to the relative value you offer, or risk confusing your potential market.

·         Your business plan should include your revenues and costs on a per-unit basis, your overall direct costs and overhead. These factors can help you establish the constraints related to making enough profit. You have to cover costs, which can include expenses beyond the direct costs of buying what you sell, such as rent and payroll.

2. Can I afford to hire?

Especially when you're running a new company, you might not be able to help thinking that hiring additional employees might help you with the mounting list of tasks that have to get done. What would happen if you hired an extra salesperson? Could an extra administrator solve some of your problems?

Go back to your business plan and determine what happens to projections if you add the extra salary and benefits. Guess whether the improvement in people power will add to your revenue, or cut costs.

Or perhaps you should consider hiring a contract worker. Of course, hiring someone is almost always cheaper -- but only if there is a long-term need that justifies adding the fixed costs. If it's a short-term need then the cost won't affect your overheard forever.

Either way, working those numbers won't eliminate the uncertainty but it can make it easier to understand the variables.

3. Am I implementing my strategy? 

Test your strategic alignment: Do your milestones, spending for marketing activities and new product or service development, and related expenses show the same priorities that are reflected in your strategy? In my business planning coaching I've repeatedly run into client situations in which people say one thing in their strategy but do something different thing in their actions and spending.

For example, you say you're going to emphasize your extensive computer expertise in your strategy, but you pay your service staff below market rates. Or you say you're going to emphasize one side of your product line, but your advertising spending emphasizes the other.

4. Can I afford to relocate?

Sometimes new business owners need to relocate to help cut costs, or want to take better advantage of a prime sales area. If you need to switch your location, get back to your basic numbers and break the problem into its business plan parts.

Estimate how much more your monthly rent will be at the new location. Also estimate your moving costs, costs for fixing up the new location and costs of the business lost while you're absorbed in the move.

Then adjust your sales forecast to either add in the additional business you'd be able to do there or the costs you'd be able to cut. If you don't see enough long-term improvement, then perhaps you shouldn't move.

5. Am I stunting my own growth?

Go back to your business plan and give your assumptions a fresh look. Consider your target market and strategy, and add in your business offering and distinctive differences. Does your business offering match your market? Are you sending the right messages to the right kinds of people?

Related: Three Things to Keep in Mind When Scaling a Business Quickly

Think about things you could easily add on to sell more per customer. Is there some low-hanging fruit you're missing? Maybe your restaurant customers, for example, want mugs, t-shirts or desserts. Maybe your computer servicesclients want automatic back-up services, or system upgrades.

Now look at marketing. Is your message changing enough to match changes in the market? Is your marketing mix adjusting to technology and media and social changes? What if you spent more money and time on marketing? Could you increase sales?

Your business plan isn't a static document -- it's your best tool for steering your business. Answering these questions periodically can help keep long-term goals in mind while you adjust your immediate steps and actions.
 

Article Source: http://www.entrepreneur.com/article/219969
Article Author: Tim Berry