Do you believe that only Start Ups need a business plan?
Many business owners do think that and some survive without one and that’s OK while everything is running smoothly. However there are some equally good reasons to develop one especially when you are established.
Many objections stems from a perception that a plan is set in stone and sometimes viewed as a major hassle to develop.
Certainly start ups should have a plan but so do existing business owners as you can hold too much information in your head and allow some of those perceptions to guide your decision making.
The process of planning can unlock little (or large) pockets of potential than bad habits can cover up and hide. The process of planning can help you revisit targets and goals and review the resources you have and need to keep your business on a successful track.
Advisors and consultants are often criticized for pointing out the obvious but all that is happening is that the work you do and the way that you are doing it is being looked at with a fresh perspective. Something you can all do by stepping back even for an hour or two, to work on planning rather than the day to day doing. It also means that making improvements does not have to be as much hard work as you think. Many conversations I have with clients running established businesses reveal that that they have stopped doing the things that made them successful in the first place.
A good business plan is your most important management tool.
Writing things down helps bring a little clarity and helps avoid missing the obvious that slip through cracks. Then over time all those little things build up, you find yourself fire fighting and then get hit by an unexpected challenge and have to spend valuable time getting back on track.
So, first steps:
- What made you successful?
Are there actions you have just stopped doing over the years perhaps because you have become too busy?
- Regular meetings with your team, keeping everyone up to date with your ideas and plans, successes and challenges?
- Marketing activity that built your business, have you identified the steps that really work for your business?
- Have you set and written down some specific, challenging and realistic goals for 2012?
You don’t have to overcomplicate – you just need to make a start
