Planning for Success Part II

Part II


Business owners many times have a business plan that was written years ago. Perhaps the business plan was written in order to obtain bank financing or was written with the intention of the plan guiding day to day operations but somehow it got lost in the chaos of running a business. The business plan if created and implemented in the right manner will result in improved business results. Part I of this article provided ample reasons why a business plan needs to be done. Part II is written with the business owner who had a plan at one time but for whatever reason it has been put to the side.

The first question to be asked is why should I update a business plan if I am getting by without now? The answer is simple. Would you go on vacation without making travel, hotel arrangements and a plan for how you are going to spend your time? A properly written and implemented business plan allows for the business owner to not only set a plan for where he/she wants to get to but also strategies for how to actually get there. The key component is strategic planning. Business owners and leaders today have found that developing a strategy and an implementation plan is far more effective than leaving the future to chance. The time, expense and energy the business owners have placed into their businesses is far too valuable to leave to chance.


The one constant in business is that change will take place. Conditions are changing all the time. A properly written and executed business plan will allow for the business owner to strategically plan for the changes that will take place. A well written strategic business plan must be capable of changing with the business conditions. The strategic business plan must allow for and actually encourage the creative energies of the business owner and his staff to make the necessary changes to reach the business goals. Ultimately, success will depend on this ability.


Finally, it must be stated that since there is a plan in existence, although outdated, the strategic planning process can be done in a relatively brief period of time. The renewal of the business plan properly written and implemented in a strategic manner will help to reenergize the business owner resulting in measurable positive outcomes. Improved sales, customer loyalty, employee retention rates and a more focused and goal directed leadership team.



The most important factor to your success is … YOU! Plan on it!