Question
For 3 years, I've been bootstrapping and signing up early adopters to be able to pay for developers to build out my SaaS product. The development process has been the "kink in the hose" so I've been working a decently paid full-time job while it gets built. My schedule was not holding up the progress since it was all development (and I'm not a developer). But within the next three months, we will have finished the build and will be delivering the product to our first three customers.
At that point, I have to assume that my schedule WILL be what is holding us up - and that doesn't sit well with me. How should I plan for this? What are the options?
Answer
I went through the exact same experience. I was working for a software consulting agency making a very good salary. However, I started an online business on the side that began to grow quickly. I was faced with the decision to stay in my secure job or to officially expand my online business. There were a lot of things to consider but my favorite activity to organize my thoughts is to go through the the “3Cs and 4Ps” exercise.
Any business venture that you plan to embark upon should go through the “3Cs and 4Ps” exercise. You’ll soon realize how incredibly valuable and insightful this exercise is. It may seem simple, but the “3Cs and 4Ps” exercise really allows you to think about a business venture in a structured way. Once you force yourself to really go through this exercise, you’ll realize how much you didn’t know about the business idea you had in mind. This is critical because you want to know that the venture you are about to embark upon is worth giving up a secure job for.
You can read more about it at: https://pezlogic.com/2011/10/20/the-3-cs-and-4-ps-a-critical-first-step-in-business-planning/
Remember that the 3Cs and 4Ps will continually need updating as your business grows and changes. It is what we call a “living exercise” so you need to come back to it often to refine your strategy and approach. The exercise may seem obvious, but once you start thinking about each step in the process, you’ll be amazed at how much more organized your business planning will become.
