Let me tell you about 2 contrasting experiences I had when trying to start a business. The first one was a beat-making venture I was excited about.
I told everyone I knew that I was going to be the next big music producer. I had a basic idea and some equipment, so I figured I was ready to go. By the way, you can check it out by clicking here
Without much planning, I jumped right in, thinking my passion would be enough to carry me through.
However, I quickly realized I had overlooked crucial aspects of the business. I hadn't considered how to do marketing with my beats, manage finances, or even consistently produce high-quality tracks.
Otherwise, when he has laid a foundation and is not able to finish, all who see it begin to mock him, saying, ‘This man began to build and was not able to finish.’ — Luke 14:29-30
It was like trying to build a house without a blueprint. Within a few months, my dream crashed and burned, leaving me not just discouraged, but financially devastated.
I had poured all my savings into this venture, and then I found myself bankrupt.
This harsh reality hit me: I couldn't make a living out of my passion project. I had to swallow my pride and start looking for any work I could find just to make ends meet.
This painful experience taught me the hard way about the importance of counting the cost before starting a project.
It's not just about the time and effort; it's about understanding the real financial risks and having a solid plan to navigate them.
Determined not to make the same mistake again, I went to a completely different with my next business idea.
I spent months researching and planning my business idea. Should I start a dropshipping business? Offer copywriting services? Or launch a web design agency?
I thought I had it all. I learned a lot and tried to create a perfect plan, or so I believed. Yet as the launch date approached, I found myself unable to execute any part of my plan.
He who observes the wind will not sow, and he who regards the clouds will not reap. — Ecclesiastes 11:4
There was always one more detail to perfect, one more scenario to consider. Before I knew it, 6 months had passed, and I hadn't taken a single step toward my goal.
These 2 experiences illustrate the pitfalls of both under-planning and over-planning. In the first case, I acted without preparation. In the second, I planned but never acted. Both approaches led to failure in different ways.
Finding the Balance: Learning from My Mistakes
After my 2 failed attempts, I realized that success lies somewhere between meticulous planning and impulsive action. Here's what I've learned, and the steps I now follow to find that sweet spot
1) Start with a Clear
For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it? — Luke 14:28
First things first, I write everything down. It sounds simple, but it's powerful. But before I even put pen to paper, I always start with the most crucial question: Why? Why am I starting this newsletter? What purpose does it serve? Who will it help?
Every successful business begins with a clear understanding of its purpose, and its reason for existing.
Once I've clarified my "why," I keep a journal where I jot down ideas, plans, and reflections. This process forces me to clarify my thoughts and makes my goals feel more tangible.
I outline not just what I want to do, but why I'm doing it, who it's for, and how it aligns with my overall purpose.
This combination of purpose and planning has become my roadmap for balancing vision and action.
By starting with "why," I ensure that every step I take is meaningful and aligned with my core purpose. It's not just about having a plan; it's about having a plan that matters.
This approach has transformed how I approach my projects, making them not just more organized, but more impactful and personally fulfilling.
2) Set SMART Goals and OKRs
Next, I set SMART goals (Specific, Measurable, Achievable, Relevant, Time-bound) and establish OKRs (Objectives and Key Results).
For example, when I started my newsletter, I set a SMART goal: "Publish one newsletter issue per week for the next three months."
For OKRs, I tracked things like subscriber and social media growth, open rates, and click-through rates.
Remember, if you can't measure it, you can't improve it.
3) Create a Minimum Viable Product (MVP)
I would like to define the Minimum Viable Product (MVP) as 'Start Small to Win Big.'
Instead of aiming for perfection, I start small with an MVP. For my newsletter, rather than planning a complex, multi-topic publication,
I began with a simple, focused format on a single subject I'm passionate about. It wasn't perfect, but it was out there, and the feedback was invaluable.
Your product will improve with customer feedback, they will guide you on what to do next with the product.
4) Take Action and Learn by Doing
Don't get caught up in endless planning. Force yourself to take action, even when you don't feel ready. It's scary, but it's the only way to make real progress. There's no substitute for real-world experience.
When I started my newsletter, I initially spent countless hours watching YouTube tutorials on email marketing, copywriting, and content creation. While the information was valuable, it didn't compare to the lessons I learned once I actually launched my first issue.
I remember staring at the "Send" button for what felt like hours, heart racing, doubting if I was ready. But I clicked it anyway, and that's when the real learning began.
My first issue had typos, the layout was cluttered, and I'd completely misjudged what content my audience wanted. But you know what? Those mistakes taught me more in one week than months of passive research ever could.
So, while planning and research have their place, don't rely on them too much. Take action, make mistakes, and learn from them. That's where the real growth happens.
Trust me, the lessons you'll learn by doing will be far more valuable and applicable than any YouTube video could ever provide.
5) Gather Feedback and Iterate Once your MVP is out there
Once your MVP is out there, collect feedback. Use the data from your OKRs to understand what's working and what isn't.
For my newsletter, I initially relied heavily on feedback from friends and coworkers. They became my first subscribers and most vocal supporters.
Their input was invaluable – they pointed out typos, suggested topics, and gave honest opinions about what resonated with them.
However, I realized that while this feedback was helpful, it wasn't enough. I was stuck in an echo chamber, hearing from the same small group of people who knew me personally. The real challenge was growing my audience beyond this circle.
This taught me a lesson: creating good content is just one part of the equation. You also need to actively work on distribution and audience growth.
I started experimenting with different strategies—sharing snippets on social media, building connections with other creators online, and even joining community events for creatives like buildspace.
It's been a slow process, and I'm still learning. But each new subscriber feels like a victory, and it pushes me to keep improving and expanding my reach.
Growth doesn't happen overnight. It's about consistent effort, trying new approaches, and learning from both your successes and setbacks.
Don't get discouraged if it takes time – focus on delivering value, and your audience will gradually grow.
6) Reflect and Adjust Regularly
Review your progress against your SMART goals and OKRs. Be honest with yourself about what's working and what isn't. Use this reflection to adjust your approach as needed.
In my case, I'll review my newsletter's performance and my social growth weekly, then make adjustments to the content, format, or distribution strategy as necessary.
Progress isn't always pretty. You'll make mistakes, but that's okay. Each misstep is a lesson learned.
The key is to maintain that balance – plan enough to be prepared, but not so much that you never take action.
Now, it's time to find your balance and turn your ideas into reality.
Thank you for reading. I hope this helped. Enjoy your weekend.
— Mu