Smart Women Can Learn a Lot About Business from a 3rd Grader

Recently my son Jack, who’s in 3rd grade, had to do a book report and I spent some time guiding him through the process. His teacher had asked the report to consist of 6 elements: Title, Setting, Main Characters, Plot, Problem, and Solution. This got me thinking about how Smart Women could use this exercise to create a clear and focused plan for their business and entrepreneurial dreams.

Having a firm foundation is essential for any business to have sustainable growth and long-term success. What do you need in order to create a firm foundation for your Big Idea, Dream, or Goal? You need the same 6 elements that my son Jack used in his book report:

1. Title – What’s the name of your business? Does the logo reflect what your business provides? Does your business card or web site accurately reflect what you do? This is a basic but very important part of your business. Many times, it can be the first contact someone has with you and your business. It needs to be clear when someone picks up your card or visits your web site.

2. Setting – Where will you operate and run your business? Will it be home-based or do you need to rent office or warehouse space? What setting will best serve you in running and operating a successful, profitable business? When I first started my business years ago, I had a small desk in my bedroom that served as an