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Business Planning for Non-Planners
By Wendy Hearn
It's the start of your business
day and you quickly whip out your clearly written plans. Pardon?
Did you say you don't have a written business plan? Then join
the club, 'Business Owners Without Plans'. The problem this club
faces is that the majority of members' businesses are likely
to fail. Business failure rate is high and a major reason for
this is lack of planning.
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If you're a member of this group
and I was once, you're probably an entrepreneur or a creative
person. The idea of planning is boring to you, seems unnecessary
and involves too much detail. And you'd rather be doing other
things. Your way of working is probably much more spontaneous,
exciting and in the flow so you don't want to be tied down with
plans. However, without any plans you can end up very unfocused,
not achieving the results you want and ultimately face your business
failing.
So, what's your reason for
not having business plans?
Apart from the usual reasons, like not having enough time to
plan, not knowing how to do it or where to start, perhaps you
think that planning doesn't fit with your entrepreneurial and
creative spirit.
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After all, this is who you are and
you don't want to lose this. Now fear starts to surface; fear
that you many need to change or fear of failure. While your plans
stay in your head, it's not so frightening and real. Putting
them on paper brings them closer to fruition and although you
may say this is what you want, is it really if you're not willing
to commit them to paper.
Planning your business takes
it from being a hobby to a fully-fledged business. Although most
people would say that they operate their business as a business,
in reality most operate them as hobbies. Then they wonder why
they're not being successful and seeing results.
I feel one of the problems for
creative and entrepreneurial people is that when they think of
business plans the picture that spring to mind is of hours pouring
over vast pages of details. That's enough to turn them straight
off. However, it doesn't need to be like that. There is a way
to develop plans for your business, and to be creative and entrepreneurial
with it. These informal plans are ones that you'll use yourself.
If you need a business plan for outsiders, such as your bank
or investors then this idea might not be for you. However, it
may be a good way to get a formal business plan started.
Instead of thinking that you
need to commit hours to writing your business plans, I invite
you to start with just 5 minutes. Now without any thought of
the right way to do it, just write down the things that come
into your head about your business. Just capture any goals, strategies,
problems, current situation and positioning. Writing down your
plans clarifies, organises and prioritises them, and clears space
in your mind.
The next step is to tap into
your strengths as an entrepreneur or creative person. You're
probably great at coming up with ideas and solutions, and may
well be intuitive. So, you'll tap into all of these using the
power of questions. You'll use questions to come up with answers
and solutions that you'll put into your business plan. Your business
plan need only be a straightforward discussion of your present
situation, your strategies, resources and goals. Nothing complicated
or too detailed.
Here are some questions to get
you started:
- What is the current business
situation?
- What goals do you have for the
business?
- What problems and challenges
is your business currently facing?
- What strategies are you using?
- What strategies do you need
to use?
- What resources and opportunities
do you have?
Okay, so having spent 5 minutes
on your business plans, I invite you to make a commitment of
5 minutes each business day and continue working on your business
plans. Once you've responded to the above questions, put on your
creative and entrepreneurial hat, and come up with your own thought
provoking questions to answer. Take your creative and entrepreneurial
spirit, and use these to develop plans for your business that
keep you focused and producing the results you want. Once you
start laying down some plans for your business and experience
the benefits of doing this, you'll want to continue. The most
important step is to get started.
As an entrepreneur or creative,
what will it take for you to start putting some of your business
plans onto paper? |