Why you need a business plan?

5 August, 2013

Would you ever plan a big trip but not lay out the plan to arrive at your destination?  Would you ever start building a home with a plan laid out?  Everyone answers no, but when it comes to managing your business many people do not take the time out of the day-to-day management to rework or create a business plan. 

A business plan consultant is an asset to your business, because he/she can develop the business plan based on your current results, your objectives, and help create the roadmap for you to achieve the success you are looking for with your business.  Here are some reasons why a business plan is like mapping out your trips:

To avoid bad turns and getting lost: When you are running your business you will be immersed in managing the details.  When you are focused on the details decisions will be made on the fly.  Do I turn left or right?  If you don’t have the plan laid out you will may make a bad decision, turn the wrong way, and get lost.  You will have to backtrack, waste time, and could cost you money.  The same thing can happen with your business.  Making a hasty decision without a plan may guide you down the wrong path and cost you money, time, and may be detrimental to the business. 

Avoid emotional responses: Many people will get emotional during stressful times.  Ever travel with your spouse and when a major decision needs to be made an argument starts.  It is not because you do not like each other, it is the stress of the decision and knowing you might make a mistake.  The same can be said about running your business.  You have invested a lot, both financial and emotional into growing your business.  At other times, you’ll be overwhelmed by many different emotions.  When your emotions cloud your judgement, having a business plan lets you take an objective look at what you are doing and why.

Make sure others know the route: It is much easier to sit with your spouse and review the plans for your trip.  Having someone understand the plans allows for feedback and confidence.  The same goes for a business plan.  Share your strategy, priorities and specific action points with your spouse, partner or significant other to get insight, answer questions, and feedback.  This will give you the confidence in your plan.

A roadmap is always the key to a successful trip.  The same goes with growing a business.  A business plan consultant can help you layout the roadmap for your business success.  Contact us for your business plan needs.

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