Discussions on business plans always bring many opinions to the surface. There’s no in between on business plans. People either love ’em or hate ’em.
One small business owner created a unique business plan. He wrote down his three top goals on a post-it note and slapped it onto his bathroom mirror. He says,” Every time I brush my teeth in the morning, they stare me back in the face! And so far, so good. I’ve been in business for two years now and I accomplished it all without a pretty little business plan.”
There are a lot of myths about business plans. And most small business owners work without one — unfortunately. Your plan is your road map that helps direct the activities you will undertake to help make your business successful.
Believe it or not, the example of posted goals on a bathroom mirror was a plan. Your plan is about helping you take the right action, each and every day, to be successful.
A plan will help you clarify what you expect the business to be and can be very helpful in determining who your prospects are and how you will reach them. Plus if you are planning to get external financing, a plan is a must. Your finance partner will want to know what steps you will take to ensure they will get their money back.
Some time ago, I wrote Three Planning Myths, a short article. Hop on over and give it a read.
How about you? Do you have a plan? Formal or informal? Share your thoughts with me.