7 REASONS WHY YOU DO NOT NEED A BUSINESS PLAN

Reason 1:

-        You just sold your business for a gazillion $’s: (but wait that may have been part of a well thought out and executed plan)

Reasons 2-7:

-        I can think of any more good reasons!!

When the words Business Plan are spoken, I often see people wince and then say they “do not want to waste time on a mamby pamby folder full of Vision 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”.

OK. Consider this:

You’re going on a holiday to the Kimberly in July 2021 which is the dry and the high season.

• Do you just leave Melbourne unannounced and not deliver on promises to clients you have made?

• Do you turn up at the airport and buy tickets on the departure day?

• Do you get to Broome and look for accommodation and car hire then?

• 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:

• Vision: to see the wonderful Kimberly region at the best time of year in 2021

• 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.

Now is a good time to book a COMPLIMENTARY chat with Leigh Powell, Business Strategist and Mentor with Your Time Matters to help you map out how you will move forward once the restrictions are lifted. You can read more about Leigh on his LinkedIn profile HERE

“I’ve been working with Leigh for a few months now on developing my business structure to take the company to the next level. From the very first meeting, I felt very confident that he would help guide me in the right direction to achieve the success I desired. The first few sessions he helped guide and challenge me in my thinking about what needed to be done today and in the future to ensure the business built on the foundations that were already in place. The financial forecasts were invaluable, as he again challenged me to not take such a modest look at the figures. The business plan he has also developed will be a great tool to ensure the business sets and meets goals in the future, a fantastic reference for the business to go to the next level. I’d highly recommend other people running a business or even considering starting their own business, to enlist the help and advice of Leigh, it’s one of the best decisions I’ve made for my business. - S.Holt, Visual Culture”