Step 1: Create a Life Plan

in Forum: People and Companies Who Inspire
Source of this discusssion: /steps/55/3751/1/1/create-life-plan.htm Page description: Some of the most successful and happy people we know are entrepreneurs who created a business that's in perfect synchronicity with what they want out of life. If you do what you love, you'll work harder, better and more happily.
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Nov. 12 2006 at 11:10 PM
OHDenise Posted by: OHDenise

My response to the Step 1 questions:

Are you up to speed?

I'm getting there. (Wow. This exercise took a lot of time and effort, albeit time and effort well spent. But I can see why participation suddenly dropped off dramatically.)

 "Never discourage anyone who continually makes progress, no matter how slow." -- Aristotle

Have you created a life plan?  If not use, this tool!  If you need help, use these resources available right here on SUN.

 

I have a loosely created life plan of sorts. I have prepared such a plan (or mission statement kind of thing) previously, I have identified various goals I would like to achieve, and I have accumulated additional elements and ideas here and there. I think I have fairly well-defined preferences for my life, but I probably need to revisit the issue and put these preferences and other elements into a more coherent and cleaned-up plan. I do have an understanding about the type of people with whom I need to associate, and I know the type of environment in which I'm most likely to thrive. I will use this opportunity to revise and update my life plan into a new document before the end of the year. It will be a tangible-piece-of-paper life plan - that's the REAL test of whether or not you have a life plan: you should be able to hold it in your hand and read it.

 

Have you adjusted your life plan to include a SUN project?

 

A startup business project of one type or another IS part of my life plan (whether it be this developing effort or creating/joining some other entrepreneurial team).

 

Have you considered the group’s life plan

 

I am hoping to form a collaboration with others who are enthusiastic and persistent participants, who have complementary skills, compatible work styles, and characteristics conducive to a good partnership (e.g., credibility, competency, and ability to compromise).

 

How are you adjusting your life plan to free up some time for a SUN Project?

 

I am making it part of my daily ritual to check in and follow up each day during the week, and to do the research, networking, and writing that will turn vague ideas into a workable plan of action.

 

Have you considered the responsibilities and funds available to start a business?

 

Yes, I am aware of both aspects required to make a business truly viable. I am in the process of planning my early "retirement" from my existing full-time career, which will provide me with a safety net of income (and health insurance) while I develop a plan for business. (Also, I have one house paid off, a second house half paid off, a corporate housing property with rental income, no car payments, and no running credit card balance, which is good.) I have connections for potential funding requirements, and I have confidence that my planning and documentation skills are adequate to secure sources of funding that may be needed.

 

Will participation in a SUN project make you happy?

 

I'm arriving happy. I can find pleasurable elements in almost any activity.

("If you can't be happy where you are, it's a cinch you can't be happy where you ain't." --Charles "Tremendous" Jones)

 

How much time do you envision you’ll be putting towards a SUN project per week?

 

(Excellent assessment question, by the way)

I plan to start (this week) with something in the range of 4-8 hours. But if there's something I'm really getting into, I could easily extend this amount without even trying.

 

Do you plan on increasing the amount of time you put into a SUN project as the project progresses and becomes a reality?

 

I have a few other previously scheduled obligations that will eventually be cleared to provide more time. Tentatively, my available time for this pursuit looks something like this:

 

now thru Dec. 10        4 - 6 hours per week

Dec thru March         & nbsp;8 - 10 hours per week

March thru June         a temporarily intermittent schedule (while I execute a major relocation & "retirement")

after mid-June        &nbs p;   40+ hours per week

 

What of your skills will you offer for the projects?

 

Not knowing what the eventual project will actually be, I'm going to list a range of possibly useful skills. Some are business/administrative types of skills and some are more direct, hands-on skills. This list includes skills I have learned academically, through on-the-job experience, self-taught skills, and skills for which I simply have an affinity. The level of experience within these skills varies widely, but I know that I can develop most of them further. And, maybe more importantly, I understand my current level of expertise, and would not be so presumptuous as to proclaim myself an expert at something just because I can do it better than anyone else in my family or in my small circle of friends or associates.

 

project management (particularly in the development of engineering construction projects by contract)

planning and organizing, in general (I'm quite adept at thinking through the details)

researching & networking (either for information or resources)

teaching/training/instruction (I'm fairly good at explaining complex ideas or procedures at an understandable level, also communicating with non-native or marginal English speakers)

marketing/branding (especially regarding development of informational literature and finding opportunities for exposure and educational aspects of a product or service)

word tasks/writing/editing/layout (including technical specifications, legal agreements, and easily understandable contracts)

preparing orientations/compiling "quick reference" binders (information that helps customers or new employees find what's available, where things are, and how things operate)

developing systems/processes/forms/checklists (those critical things that need to be thought through and defined initially, so that recurring tasks can occur more smoothly, with some semblance of order)

event/activity/production planning (I like to plan events that encourage attendees of all ages and persuasions to actively participate; also, I like to document [in photos or other mementos] significant and memorable occasions)

photography/audio-visual production (my photography skills are more honed than my current audio-visual abilities, mostly because of the ever changing technology which must be used regularly if one hopes to stay up-to-date)

design (industrial, architectural, graphics); also drawing/sketching/drafting (I'm fairly adept at AutoCAD and preparing engineering drawings of all types)

sign painting (I used to be a journeyman sign painter)

woodworking (a part-time hobby that may not even have any relevance to this project, but included here, nonetheless)

 

Do you hope to have a chance to learn new skills?

 

I'm always "up" for learning new skills and understanding new information, but I've also come to the realization that it seems to work best when people work on what they do well. That's the real benefit of a diverse and complementary team.

 

Where will your experience be most useful?

 

I tend to work best in the starting and setup phases of a project. But I also work well on polishing a nearly-completed project and putting on the finishing touches. I can stay out of the way when others are working in their area of expertise. I love seeing a plan come together into a finished product or production. I work better in a partnership situation or with very small groups, for purposes of development. I also work well independently and then bring back to the group my independent findings or proposal to compare or integrate with others. I am an enthusiastic participant, but I thrive on being around others with equally enthusiastic participation.

 

Do you envision part-time or full-time? 

 

I expect this endeavor to develop into something full-time (either THIS project, or some similar project that I may pursue).

 

What’s the best kind of business for you?

 

I think I'd prefer a product/service mix which creates personal or physical improvements, educates and entertains, without encouraging wastefulness or frivolous consumption. I also think I want to be involved in a business that is not purely e-commerce or internet-based. I want to interact with people and experience the world in 3-D.

 

Where is your life plan right now? Tacked up in plain view or at the bottom of a “to be filed” pile? 

 

It's in a folder that's carried with me almost everywhere I go; and added to whenever I encounter a notable observation or stumble across an intriguing idea. After this exercise, however, I can see that it's in need of a reassessment, and possibly a makeover.

Denise



Edited by: 0HDenise - Nov. 14 2006 at 12:01 PM
Apr. 03 2007 at 9:30 AM
No Photo Posted by: kjsjsb

I could have a precious time to think about my life how it should go for myself? what I can do to improve myself a better person?..etc.

My life has been so normal as I am a normal person. It  was just the same as those of most korean. I was subject to spend almost all time at school especially during the high school period and I was able to do something I like after university as I have time for that. That is studing English to me.  

so my dream is also in relation with that. This is something I like doing and I want to keep doing in my future job.

I have one time experience of living in america for a little while and I want to have as many more chances as possible. These days I see so many volunteering oppotunities out there than ever I will try to get those which I believe are good for my future job hunting as well as for self-improving.

 

Sep. 05 2007 at 6:33 PM
jendemond Posted by: jendemond
We know that there is more to life. The long hours and dedication that will be required to start this Alpaca Ranch and make this a successful business are not a concern. We know we can make this ranch succeed. However, each of us has a poor/shaky credit history. How can we begin to look for funding?Jen DeMond, Owner
Marsha Chaffins, Owner
Never Forgotten Ranch
Sep. 23 2007 at 2:11 PM
No Photo Posted by: ac3jc
are u going to be raising alpacas for their meat as well as their fur??
Sep. 25 2007 at 1:12 PM
robertj Posted by: robertj Sunbassador

jendemond wrote: We know that there is more to life. The long hours and dedication that will be required to start this Alpaca Ranch and make this a successful business are not a concern. We know we can make this ranch succeed. However, each of us has a poor/shaky credit history. How can we begin to look for funding?

First of all, this question is probably better suited for the forum on Startup  Capital or perhaps Business Planning - because I think the first step is to determine (among other things):

1 What else will be required besides capital?

2. How much capital you will need - for what purpose and when?

3. How will/can you Reward/repay those who supply the capital?

These questions (along with many others) can best be answered by preparing a "basic" business plan. Once the plan basics are there, you can determine your optimum funding strategy.

 

Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com


Sep. 25 2007 at 1:38 PM
jendemond Posted by: jendemond

The alpaca will not be raised for meat, but yes for fleece. Also, for show and for pet quality. I also hope to open a store on the ranch offering handmade products from alpaca yarn to clothing made of alpaca fleece. As the ranch gains stability, I will offer the store as a marketplace for homemade goods made by local people of lesser means. I have also chosen to purchase two cattle that will be bred for meat. I have written a business plan and life plan.

Jen DeMond, Owner
Marsha Chaffins, Owner
Never Forgotten Ranch
Sep. 25 2007 at 1:52 PM
jendemond Posted by: jendemond

We have, out of our own funds, already leased the barn and land. We have modified and cleaned the barn to house the alpaca, hay storage and grain. We have installed fencing. We have purchased two cows and four alpaca, one of which will be our initial herdsire. So, short of capital, and determination combined with a willingness to do alot of hardwork, I am do not see what else would be needed. Once we obtain capital, we intend to do our marketing in-house in the beginning. We will continue to use mentors and available resources to continue to learn.

I would say we will need approximately $60,000 as the bare minimum for start up capital. Ideally, in my business plan, I allotted for $102,000 start up capital.  I am not sure what to offer the person/persons willing to invest. Do I offer a percentage of the company? A percentage of profits? Realistically I would not expect a large profit margin until at least the third year. Our business plan specifies how the start up capital will be used.

Jen DeMond, Owner
Marsha Chaffins, Owner
Never Forgotten Ranch
Nov. 12 2007 at 7:09 PM
winston2 Posted by: winston2
First of all I would clean up your credit. Talk to someone that can help you in that area. Next don't quit your day jobs.
Instead of selling part of your business why not sell investments in individual alpaca. An investor would purchase an alpaca, You would feed, breed, and sell the wool. The investor would get a % of the profit produced from that animal over the next few years. You would have to work out the details. I know of someone that did that with mink several years ago, he did very well.
 
I know it sounds weird but who knows?
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