Business Plan Topic:
Coinciding with the official first blog entry (and the week of revisions needed to comfortably publish it), the framework of the business plan itself has been constantly top of mind. Driving home from work today, the question racking my brain was “what are the bones of the plan?” Today’s action is formulating (…aka actually typing…) the framework of the business plan. This business – which I am treating like a living/breathing being – has at least 206 bones like an adult human body, which means today I am setting myself up with 206 questions to initially answer. (Note to readers… I started this entry on May 6th, then started the business plan framework and published it last night, hence the timeline skew on here with actual posting May 14th)
Why is this important now? Well… I gotta start somewhere. Please refer to this week’s inspirational quote below… And click here to see today’s hotel startup plan updates. (Ahhh! See what I did there with some SEO!)
In order to get the list started, I reviewed notes from old school projects, as well as these resources:
- Growthink.com – I will link to this article soon
- Designhill.com – I will link to this article soon
- SCORE – I will link to this soon as well. SCORE is a classroom resource sponsored locally.
- Youtube: A few videos on business startups and hotel business plans. I will link this as soon as I shore up my Youtube channel*.
*Note on Youtube – I went to claim the name of my site, but learned I need at least 100 followers in order to do so. I’ll be asking some TPP’s about this…
TPP – Third Party Professional
This week I met with someone very close to me who is interested (and very capable) of specializing in one of the hotel’s key offerings. He is well-educated, well-spoken, a natural leader and motivator, and most importantly, someone I trust implicitly. For now, he and I are working on a separate business plan (as noted in The Plan) which fills a specific need & niche for generating and retaining clientele which happens to assist in fulfilling one of the “why’s” I’m even tackling this crazy dream in the first place.
Field Trip
This week did not include a field trip. I have the vision firmly in place as to where the first field trip will take place, but alas, I need to obtain the proper camera for this. After online research and speaking with several teammates at Best Buy, I apparently have a lot to learn about ‘vlogging cameras’… Just writing this is frustrating to the point where I will now shoot a text message to an old friend who is a very successful cameraman for some advice. Stay tuned…
Outsource
After writing out the ‘bones’ of the business plan, I discovered A LOT of areas I will need to outsource. After writing the previous paragraph, however, I don’t feel confident I will make it far in the vlogging world without some immediate help. I want that portion of the project to jump right away, so seeking a videographer and/or editor will be this week’s outsourcing mission. I’m thinking of a college student, so my fingers are crossed on this. I may also post an ad on Craigslist. Stay tuned…
Commitment
Fortunately the main commitment made to myself was fulfilled: post the first version (12 pages) of The Plan. I have so many interesting and challenging questions to answer that I almost don’t know where to start with it. I will for sure complete these steps this week:
- Seek advice from my videographer friend
- Reach out to my attorney (again) whose interest was piqued when I ran this whole idea by them… I’m doing this now because I want to ensure the proper legal structures are addressed early, and I want to lock down the name(s). I also want their advice regarding any legal documents necessary to begin the vlogging (social media release waivers, etc.)
- Complete the TPP intro letter: “Hi, I’m Mark… would you like to be a part of my project?” Then have my attorney review that as well because it coincides with release waivers.
Inspiration
Considering the events of this week… I’d say this quote speaks for itself as inspiration!
Bible Verse
As this week drew on, a strange coincidence took place. The same verse that’s been the backdrop of my cell phone wallpaper for a few years is the same verse that jumped out tonight. Maybe not so much coincidence, but wildly topical when facing the fear of starting the business plan framework. I know for sure those first 12 pages typed themselves (and quickly) with this verse below as a foundation.
Proverbs 3: 5-6
Trust in the Lord with your heart and lean not on your own understanding;
In all your ways submit to him, and he will make your paths straight
Enlightenment
The last few months have brought very interesting and intriguing lessons to light as I learn more about Buddhist principles. This week I researched Buddhist perspectives on business, and again, discovered something strangely so topical to my life at the moment. I came across an article reviewing some insights of Mr. Kazuo Inamori, the 83-year old billionaire and Buddhist priest who established the Kyocera Corp (electronics and cell phones) and rescued Japan Airlines from its bankruptcy. His #1 policy: forget the shareholders, focus on the staff. “If you want eggs, take care of the hen,” he says. “If you bull or kill the hen, it’s not going to work.” As I continue honing in on the “future hospitality leaders” training ground aspect of this operation, I look forward to researching Inamori’s views. Further, I am currently tackling this area of my ‘real’ job as the annual Associate Engagement Survey draws near. I am proud (in the positive/professional way) of the engagement scores attained over the last few years in the departments I’ve overseen, but this year’s will be a challenge. I’m “taking care of the hens” in a variety of ways, all of which will end up in the “Aloha Management Memoirs” at some point! But I digress… stay tuned for more on Mr. Inamori’s views on Buddhist principles in the workplace and how his perspectives have positively impacted thousands of his employees and millions of customers.
Sacrifice
This week definitely included some sleep sacrifice to bring all these thoughts to the computer. No nights saw my head on the pillow before 11pm. I also turned down a boys trip to Payson. And of course I had to work heading in to the busy holiday weekend in which we did over $115,000 in revenue on Mother’s Day.
Personal Anecdote
Man… this is not going to be easy! Anxiety has been abundant in all aspects of life this week. Work (my actual job) was angst-ridden building up to the holiday. Home life had its ups and downs in a few ways, and some business investments I’ve been managing brought about some unexpected headaches. (Note… if you ever own a rental property, be sure to vet out your renters closely!) But all in all, I thank God for the opportunity to chase my dream, keep my head above water, and continue realigning my focus towards realizing my purposes. Lastly, if you’ve never listed to Pastor TD Jakes, you are missing out. I have his sermons on nonstop in the car or in my headphones at the gym.
Goodnight!