Considerations for when to engage in building a business plan.
Many business leaders go into business without having a business plan. Many successful business owners will say that simply because there are so many unknowns, a business plan isn’t a good use of time. It is suggested that a simple, one page plan should suffice to open up many types of businesses – especially service based business, and operate profitably.
Perhaps that is true. But what if we are wrong?
How to avoid getting chased around by a 10 foot, 1800 pound flesh-eating, stress inducing calendar
Do you find yourself bouncing around from meeting to phone call to networking event, then find that you are actually accomplishing much, only to spend the rest of your time answering emails and putting out fires. Then everything that you were supposed to do piles up until the last minute causing you to begin running around the office trying to get everyone to move as quickly as possible to get the work done at the last minute.
I hate that.
“Failure to plan on your part does not constitute an emergency on mine.”
How innovations fit into your company’s plans for growth.
“Ideas are no more than dreams if no one acts on them.”
“If ideas were nickels, there would be a lot more wealthy people on the planet.”
With all that needs to be done over the course of a day, many business leaders are faced with either leaving ideas in the hopper or launching half-baked ideas and justifying it by “doing something.” Both are a recipe for failure. Just imagine if the businesses you depend on did this? Big Pharma spends millions of dollars to bring a new product to market. What if they got it only half-right?
Get moving or get out of the way. Business leadership is full of risks.
When I was in middle and high school, I remember a number of students who found ways to make money; such as selling candy and pencils in the hall, doing other people’s homework or giving people rides home in their cars. There was always a risk of getting caught, which wasn’t without consequences, but this didn’t stop the people who were really committed to having some money.
Risk is still a very real part of business ownership today, and the consequences could be more devastating, in some cases. Regardless. Business leaders, if you want to build a strong business, you have got to learn to eat risk for breakfast. When you started your company, you had only a 30% chance of being successful. Do what it takes. Be tough.