Photo by Daria Nepriakhina on Unsplash

I was honored to speak with yesterday at the Mentoring group of a local college seven years ago and I spoke from this outline: 

It was from my napkin … some "P" words for starting a new business or non-profit venture (or any bold initiative):

1. A Purposeful Product – What are you bringing to the table and is there a real and perceived need with the right timing? Let me say this as the veteran of many excellent presentations and promising ventures. If there is not a compelling, useful, reliable, and needed product, it does not matter how sound and attractive the compensation plan or business model is; you do not have a sustainable business. Good business requires a great product. Period.

2. Passion – Does this ring your bell, ignite your fire, and tug at your heart. Can and do you believe that this "product," visible or invisible, can change the world and make a difference in people's lives? If not, find something that fires up your passion. If you do not have a passion for the product, you are flailing in the water and wearing yourself out.

3. Plan – You need to think our and write business plan. Follow a guide like "Business Plans for Dummies" and do it with a mentor or coach to ask the right questions. You cannot go far without a plan.

4. People – You have to relate to, network with, get along with, incorporate, empower, and use the skills of people in any business that multiplies itself. Learn too like them!!! Ask people for advice. Make friends. Determine to serve people. Make people your greatest resource but not something you use. If you can give something away, do it. Put people first and they will love you and want to do business with you.

5. Presentation – I ironically started to run out of time here. Find a way and develop the skills necessary to tell your story. A hint— Toastmasters  is a great resources for you here. Federal Toastmasters and many other local groups can help you can start a club on your campus, at your office, or in your community. Contact me at pastortomsims@gmail.com if I can help. I also do coaching on communication skills. I can recommend books and can skill development.

6. Promote. You will need a marketing plan and you will need to work it. Learn the art of selling. Read Frank Betcher's classic, "How I Raised Myself from Failure to Success in Selling."

7. Persevere. "Fail forward" (credit to John C. Maxwell) and turn your failures into building blocks for future 

All the best to you in your new entrepreneurial venture. Stay in touch. Comment. Let me know how it is going. Ask questions. Be all that you can be. You will find many allies including me.