Business Plans – Stop Wasting Your Time!

“Failing to plan is planning to fail!” was a phrase commonly heard as far back as high school when speaking with my career counselor.  As cliche? is the statement is, most business leaders will suggest that there is a great deal of merit to it, to the extent that most business leaders either a) have started thinking about writing a business plan, b) have started writing one or c) have one tucked away on a shelf that they haven’t looked at, ever.

Business plans take too long to write, they are more of an academic process, they are impractical, they are only used to raise money when starting a business and most good business leaders don’t need one, anyway, right?  While there have been many the albatross thrown around the neck of the business plan, we hope to give you new perspective on creating a business plan and hope that you will engage in one for your business.

In this issue of “Had an Aepiphanni, Lately?” we are going to discuss the justification of the business plan, or why the heck we need one, anyway, and how you might implement one into your daily business without it becoming a burdensome exercise.  Topics we will cover include:

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Why Business Plans Are BS For Business Owners

Once upon a time…

Sam was worried about his electrical supply business, and rightly so.

The initial burst of growth over the first three years of the business had halted in the fourth year and in the fifth his sales and profitability were now going backwards.

Fast.

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5 Questions for Writing Your Business Plan

When you start a business, it’s an exciting time. You are passionate about your big idea. You can see it clearly in your head. You know what you want to do. You just need to get on with it. Sound familiar?

Yet one of the main reasons so many new businesses fail isn’t necessarily because the idea was flawed. One of the biggest reasons they fail is actually because they didn’t have a clear plan. The plan is what moves you from ideas to action.Those that have a plan have had the discipline and foresight to really think through their ideas and how they are going to work.

So 5 important questions to ask yourself as you write your plan?

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