Development Plan & Milestones.
“Small deeds done are better than great deeds planned.”
— Peter Marshall
Welcome to Module 7: Development Plan & Milestones
There is an old saying that ideas are a dime a dozen but people who put them into action are priceless. At this point in the commercialization process, the creation of a detailed development plan is important to provide guidance on the launch and trajectory of your new idea. It is very likely that your ambitions and goals will exceed your resources (time and money) so the plan will have to allow for prioritization.
Taking the leap from planning into action can sometimes be the hardest thing to do. Once you start completing actual work and making progress, the concept becomes real and this is often a challenging step. In many cases, entrepreneurs think, “I’m just not ready. I can keep noodling to make it better. I want to wait until it’s perfect before pressing go.” This might sound right but it is a mistake. Winston Churchill said it best, “Perfection is the enemy of progress.” There’s no better time than the present to turn your idea into a real project. I can guarantee that you will learn a lot and will have to make changes to your plan as you proceed, but this is the sign of a successful entrepreneur. Entrepreneurs take action and pursue a dream that no one has pursued before, adjust to unforeseen circumstances, do not take “no” for an answer, and persist in the face of seemingly insurmountable obstacles. Take the important step to take action, you won’t be sorry.
A solid and compelling Action Plan addresses the following:
- Meaningful progress has been made to date and these accomplishments can be detailed in terms of how they have removed risk related to launching the concept.
- Milestones to be accomplished have been identified and clearly defined.
- Tasks have been delegated to members of the team and appropriate resources have been identified.
- Deliverable dates are established with major tasks divided into manageable steps.
- Required resources have been identified with details communicated to the team.
- Desired outcomes/results have been defined and are concrete.
- Risks to success are identified and contingency planning is underway.
- Money spent so far is documented and projected/anticipated cash requirements to accomplish tasks calculated.
If you haven’t already downloaded the the StartUp BreakDown template, I recommend you do so right away. This fillable form will allow you to take the lessons from each of our 8 modules and apply them to your business idea. By the end of the course you will have created a customized business summary and analysis for your concept which will put you on the path to success!
— Craig Markovitz
Click to download your very own StartUp BreakDown template. Take the lessons from these 8 modules and apply them to a framework for your business or idea!