The 4 “P’s” of a Business Plan

July 27, 2021
Southern CA Video Crew on Business Planning

So you want to start a business? That’s great! But how do you start? And what do you consider? Today we’re looking at 4 things to consider to start your business, so you can be truly successful in your endeavor.


The first thing you need to make sure you have up front is passion for what you are going to do or offer. There are tons of ideas you may have or things you could do. But you don’t want to do one you don’t really love or find any enjoyment in. Life is too short to not enjoy our work. Work can be hard but it is also a gift! A gift to produce. So do something you love.


Skill. You need it. Whether or not you are still developing your skill or already have it (or a little of both), proficiency in what you do and offer is a must. You actually don’t have to be the best in the world at it either but your skill needs to be at a high enough standard that you bring to the table something your potential clients don’t have. So be honest with yourself when assessing your skill level.


Why are you doing this? Is there a reason other than making money? Of course, money is ok and necessary, but all things being equal, it’s not the only thing you want to be working for. Can you succinctly state your purpose? For instance, our purpose at Waves Media is to create meaningful, emotive, and quality video content for brands making a positive impact in the world today. Address where your motivation comes from, and if it’s strong enough to bring you through the ups and downs of running a business.


You need to know you can make money at whatever it is you’re doing. Your business will not last if you don’t have profit. It’s really that simple. Is there a plan to create more than you consume? Don’t simply take on unrecoverable debt. And if you do take on debt, do it to produce and NOT TO CONSUME. There is a big difference.

So, be honest with yourself when assessing, and take the time to clearly know the answers to these questions. Once you’ve got them, the path to starting your own business will be much clearer, and easier to travel.

(*Huge credit to David and Jason Benham on the ideas presented in this article)

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