Before I even start I can anticipate the eye rolls, like being a child and your mom asks you if you washed your hands after leaving the washroom.
But I am going to ask you a very important question.
One I ask all my clients!
Do you have a “B word“?
A Business Plan?
I know I can hear you now, “Yes I do, it is in my head. I’m the only one that needs to know the info any way right?”
Your business plan is important for so many reasons!!
Funding- The obvious Reason- if and when you go to the bank or to an investor and want/need funding they will want to know that you have a clear plan of attack. They will want to see that you know what you are doing and that you have put some thought into how you are going to do it.
Selling/ Unexpected Need Time Away- Sometimes things happen unexpectedly, there are deaths in the family, surprise but wonderful pregnancies, illnesses, car accidents etc etc. when these things happen managers often need to be hired at a moments notice with little to no training. Having a written business plan makes it simpler to explain processes and goals in a quick and officiant manner.
Marketing/ Advertising- When I go into a business one of the first questions I ask is “do you have a business plan”? I am not looking for the financial part of the business plan, but I do look over the companies goals, sales processes, target markets, key products, etc etc. All of this information gives me a good foundation for creating a social media plan. Each and every detail provided in this document helps me to see where the business has been and where it is going.
Day to Day Decisions- Funny how small businesses think it is OK to ignore the business plan, yet the big successful businesses use theirs daily. They use it in their staff meetings. Sales are up 5 %, Cashier #34 needs to speed up (yes they time you and compare you). I am not saying you have to take it to extremes, but let your staff know what the goals are. Let them know what they are working for. Let them be apart of the success.
I could go on and on for reasons to make a business plan. But basically I just want to get you thinking about it. It doesn’t have to be pretty. Doesn’t have to be written in “Lawyer Talk” It just needs to have a clear and concise plan of attack. One that you can refer to on a daily and weekly basis to ensure you are staying on track.
If you implement this one step into your business, you will see a huge difference in your ability to make quick and financially healthy decisions. Your branding, marketing and advertising will stay on track and you will reach your goals so much faster with less effort.