Setting up Goals to get my business off the ground

Now that I have shared my embarrassing past of doing nothing for 4.5 years after doing my 1st flip, I am ready to start sharing what I am doing now to get my business up and running.

As a Project Manager I know that each new project must have defined start and end. It has to have a clear definition of completion or in other words the final goal. And while running a business is not a project but operations, starting up a business can be set up as a project.

Every project I had worked for in the past had a name. So, mine will have it too. I named it Strong Homes Company. Since my last name is Strong, I decided to capitalize on it. Some people advise to not use first or last name in naming a business, but I think Strong is too cool to pass it by 😊

I will treat this start up as a project. I will define a final goal, break it up in tasks or steps, set up activities that have to take place for each task and set up a schedule. Hopefully, it will also help me out to set up operating budgets for this start up period.

This blog will be my weekly project review in a way.

I would also like to mention a person who had inspired me to do this. It is not a promotion but a thank you to a person who without knowing it had done a lot for me and made me believe that I can do it too. During my procrastination period I came by a Flipping Junkie website where Danny Johnson had posted 34 weeks of details of what he was doing in his house flipping business. These weekly reports had provided a lot of information and insight to the life of a house flipper. And this style of documenting a progress had totally resonated with my personality. Weekly reviews are a big deal for me when I am running a project helping me to evaluate where I am regarding the schedule and identifying next steps and current obstacles.

Danny is a BP community member, house flipper and he also runs other cool businesses. I had recently checked out his blog to find out that he is now restarting his flipping business after taking a break. He is doing a video dairy of his progress. Very cool. I am learning a lot from him and hope to emulate what he is doing. I am no match to him and what he is doing, but maybe some of you will find my journey useful as well as I am totally new to it.

So now for my Goals.

Goals for 2020:

    1. Purchase my 1st Flip property

    2. Decide if I need a business entity and register it if I will decide that I need it

Goals for 2021:

    1. Purchase 4 Flip properties

    2. Purchase 2 Rental properties

In a next post I will list the challenges that I have identified so far. Tasks that I came up with and activities that I have finished and need to complete for the next 3 months.

I welcome all comments, suggestions, and advise.

Thank you,

Elena Strong.