As an Entrepreneur, how do you execute a project? #GreatMinds

I have 3 important suggestions to give to all those entrepreneurs who are now working on the execution of their business plans. In other words, they are working hard to establish their businesses so that they can soon commence normal operations and earn profits.

Such entrepreneurs must adhere to the following rules:

ONE – Strictly follow the timeline of the event or the project, do meticulous monitoring of all activities, and go all out to ensure that your event or project does not slip into the time overrun. 

TWO – Like schedule, also run through every single item of your budgeted project (or the event) cost and do not allow any cost escalation under any head. Minor cost variations here and there can be absorbed under the contingency margin already provided in the total cost budget. In the end, you must ensure that there is no escalation in your total project cost. 

THREE – And finally, ensure that you do an excellent scope control for your event or the project. Be strict and do not allow any changes and/or deviations from the original business plan. If you frequently agree to change/modify the original plan – you will unavoidably overcapitalize your project and face several problems later.

Here’s what Rory Burke, author of “Project Management Techniques”, has to say:

WHAT DO YOU THINK?

Let me know in the comments section.

In this ongoing series #GreatMinds on my blog, I am shining a spotlight on the important ideas that some very successful people keep talking about in their public life.

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