What name are you going to give your venture? Will it operate online, offline or as a hybrid? Is it going to be a for-profit venture, a social enterprise or non-profit? Where will your clients come from? Let all of these questions form in your mind and see if you’re getting excited with each passing day. If not, it’s okay to let the idea go – not every idea is meant to be implemented, and some ideas take years to come to fruition.
Welcome to the real behind-the-scenes life of a founder. It is a classic experience for founders of early stage ventures to realize that in spite of the existence of a team, whether they are paid of volunteering, the founder still does an outsized share of the work. At times, it may feel as though the founder needs to pay the price for coming up with an idea.
For all its relevance, a strategic plan by itself does not equate to a well-defined strategy, and strategy is not a static exercise. As a well-oiled machine, a functional organization must regularly revisit its strategy to ensure that it is staying relevant in a rapidly shifting world and responding to the most important opportunities in its environment while remaining focused on its mission.