7 Reasons WHY You Do Not Need a Business Plan
When the words Business Plan are spoken, I often see people wince, shudder and then say they “do not want to waste time on a mamby pamby folder full of Vison and Mission and Objectives and Goals and Priorities and all that stuff because it is theory and I am a small business trying to find and keep clients and pay the bills”.
Here is Why You Do Not Need a Business Plan!
- You just sold your business for a gazillion $’s: (but wait that may have been part of a well thought out and executed plan)
- I cannot think of any more good reasons!
OK. Consider this:
You’re going on a holiday to the Kimberly in July 2019 which is the dry and the high season.
- Do you just leave Melbourne unannounced and not deliver on events you promised to clients ?
- Do you turn up at the airport and buy tickets on the departure day; do you get to Broome and then look for accommodation and car hire ?
- Do you look for tours on arrival to go and see the major attractions on and off road and by air?
- Do you just jump on the road if you can hire a car and wonder how far it is to Kununurra?
- Do you just tally up the cost of the trip once you get home?
I suspect not. More likely you have developed a plan.
A Well executed Plan delivers:-
- Vision: to see the wonderful Kimberly region at the best time of year in 2019
- Mission: research flights, car, sightseeing to schedule the right time, trip duration, sequence and budget
- Prioritise: pre book and pay because it is high season and tours and cars and hotels sell out
- Plan: to be away, communicate this to clients and minimise any surprise, manage your cash flow in this period
So it (best) goes for a small business. Some say without a Plan you’re planning to fail.
The trick I think is to drop the mantra and formality of a business plan and think of it as a road map that provides a considered direction for your business. The elements are no different than other things most do in their daily lives.
Ask questions, challenge, reach out for help:
- The real trick though is to focus not only on WHAT the road map says but on achieving an understanding of exactly what needs to be done and HOW you will be accountable and achieve the various stepped goals along the way….else the road map is indeed theory.
But wait there’s more…
- The really big trick is to focus your road map on how you go about achieving your customers and clients vision and goals with their clients….think about this carefully because remember you are in business to solve their problems.
Do you have a business plan or a road map and how did you go about designing it? I would be interested to know. Comment below.