Once you have an idea for an activity to generate profit, that's the hard bit done, surely? That's possibly the hardest bit done, but looking at the Rocket model, that's just part of the vision. As mentioned you still have to look at the rest of the vision (to give your business a unique edge), strategy, structure and culture. And then you can look at each of the business components individually.

So often these primary elements are neglected, but the cost of doing of can be enormous. We'll see as we work through the steps how this can happen, and how it can be dealt with at a later stage, but if you want to benefit from my experience (for which there's no charge), you will need to sort these issues sooner rather than later.

Of course, most small businesses don't have a team initially - you are it. Surely it's all in your mind, so you don't need to formalise it at this stage? If you plan to stay on your own, that may be so - but if you plan to stay on your own, perhaps you shouldn't waste your limited time on this site. Also if you don't document, what's to say you'll use the same approach next time?

Now that could be an improvement, but how will you know?

While this article is titled "All About Business", it's not all about every business. It's all about businesses with goals and standards. Our name was not chosen at random. Business is obvious - but we're not interested in every business. We'll explain the other components elsewhere - but the Academy is taken from the garden where Plato and his followers met to discuss their thoughts of the day. They may not have been right, but at least they were exploring their world.

The other key word is excellence. And for businesses, that is the word that sets apart the shining from the multitude of ordinary businesses. It applies to every aspect of the business at all times. There's no on/off switch. As people come to take that level of excellence for granted, they'll never want to settle for less.

When your business standard is excellence, it will stand out.