BigSpeak’s EVP Ken Sterling has been around the block a few times. A serial entrepreneur, he has been involved with enough business ventures to have a solid grasp on what causes them to fail or fly.

In a recent article for Inc. Magazine, he details the importance of putting together a solid strategy when starting a new business venture, warning against over-reliance on hope. Breaking strategizing down into five simple steps, he explains the process from goal-setting to taking action. For an extended explanation, see the full article originally published by Inc. Magazine.