Planning for Success Part I

Part I


Virtually everyone knows that to be successful in business a properly written and executed business plan must be in place. It is not surprising for those who serve many small and medium sized businesses to learn that there is no active business plan in place or that there may be a business plan on the shelf someplace but that it needs to be updated and/or revisited in some significant manner. Planning for Success Part I will highlight the reasons for writing a business plan from scratch. Part II of Planning for Success will cover the importance of revisiting and or updating an existing plan on that shelf collecting dust.

There are many reasons why business owners choose not to write a business plan. It is this author’s belief that when properly done the writing of a business plan is not a mundane task to be dreaded and avoided but rather one that should assist in bringing the business owner’s passion and enthusiasm for his/her business to life. The starting point for any good business plan is the Vision Statement. This Vision Statement if properly done will bring motivation and commitment to the execution of the overall plan.

Secondly, the business plan should be strategic in nature. A strategic business planning process provides a format for developing specific strategies, converting those strategies into a business planning process, and establishing measurable and attainable organizational goals. It is a process that involves not only determining where an organization wants and needs to go, but also, how it is going to get there.

The most important reason for writing a business plan is to achieve success. Failing to plan is in essence planning to fail. The measurable results of an appropriately written and executed business plan include:

• A Strong Sense of Purpose
• A Defined Strategic Direction for the Business
• A Strengthened Focus on Attracting, Servicing and Keeping Customers
• A Proper Allocation of Resources
• A Pro-Active Management Focus
• A More Motivated, Focused and Productive Workforce.

The most important factor to your success is … YOU!

Part II is Next!