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Do you really need a business plan?

Do you really need a business plan? | Creative Leadership and Marketing Consultation | Scoop.it
Brenda Wilson's insight:
A Business Plan Plants the Seeds of Success10/20/2011

 

 The short answer is YES!  Business savvy, a brilliant mind, decades of experience, an extensive education and an entrepreneurial spirit are all valuable, but a business plan is probably the most important element when considering or starting a new business.

The long answer involves a multitude of whys and why nots.  Listed below are the elements in most business plans and to some the list may appear simple and others quite daunting.  The truth is it is both.  

A business plan is the best way to look at all the elements of your business, even the ones you think you have all figured out and of course those you don't.  It can be an arduous process even for the most experienced business person, but I assure you, it is a step not to be skipped.  It forces you to ask yourself all the questions and address all the issues necessary for a successful business venture.  

Why would you start a business, invest your hard earned money and not have a plan? You have a map or a GPS when you head toward a new destination, so why not a business plan.  Who has time to get lost in the maze of Southern California expressways when the kids are anxious to get to Disneyland?  One wrong turn or missed exit and Disneyland is just a dream.  In business the same concept applies.  Once you begin on your entrepreneurial journey you will not have time to figure out where you are going and how to get there.  
 
I recommend hiring an expert to write a business plan WITH you. If a consulting company tells you they can write a plan for you without much input from you, RUN far away. You are the expert in your business and while there may be many aspects you find yourself less than confident in, you are the one who is going to implement the plan, so your input and involvement in the process is critical.  
The optimum time to write a business plan is before you have 'opened your doors', not after. Seek assistance if you have 'overlooked' this step and are trying to figure out why things are not going as you planned in your head. 

Brenda Wilson

Typical Business Plan Elements:
Mission and Vision Statements
Company History
Principal Members of the Organization
Market Definition
Product/Service Descriptions
Management of the Organization
Marketing/Sales
Financials/Cash Flow/Expenses/Budget/Revenue Plan
Operating Agreement and Articles of Organization
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The Top 10 Performance Factors for Teams

The Top 10 Performance Factors for Teams | Creative Leadership and Marketing Consultation | Scoop.it

Raise your hand if you love wasting time on:

Meaningless drivel.Frustrating stagnation.Superficial relationships.Worthless discussions.Trivial decisions.Mediocre results.Mundane impact.

If wasting time excites you, create dysfunctional teams.

Brenda Wilson's insight:

It is indeed the small things that get in the way of successful teams, consistent progress and growing distaste for teams. When team members improve these factors, great things happen personally and professionally.

 

Brenda Wilson

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Christian Rohaus's comment, February 25, 2013 8:46 AM
It talks about how to correctly spend your time throughout the day which is a huge key towards success.