Updated: Feb 25
When you think of business plans, what jumps into your head? BORING, OVERWHELMING, TIME DRAIN, WASTE OF ENERGY?
In a world of fast food, fast fashion, drive through EVERYTHING, instant gratification is front and centre. We work faster, live faster and push harder as we attempt do it all whilst being everything to everyone. We're continuously looking for a hack, quick fix or three minute (or less) article/YouTube video to give us the life we want and FAST.
This sense of urgency often crosses into the world of business. Everywhere you look there is a 'business in a box' or a hype man promising you untold glory within 30 days. We jump at these offers as we don't know how to convert our dream into a reality single handedly.
Who wouldn't take the leap when our future has been offered to us immediately all wrapped up in a low effort, shiny big bow?
We commit, purchase and get started on our dream. Yet more often than not we become overwhelmed and uncertain. We can find ourselves with a business that's a dime a dozen with no clear USP as we have purchased a cookie cutter business model. Business is not 'one size fits all' and it is much more than some slick marketing strategy or 'launch' ran alongside beautifully curated pics on 'The Gram'
Even if you aren't enticed by the 'business in a box' and you just jump in feet first, you can find yourself floundering. Uncertain on what action to take for the best chance of business success.
Think of building a business like building a ship, you have to test your ideas to make sure they're water tight. Ensuring that your boat doesn't sink and that it is able to propel or be propelled. If your 'Business' has been designed without a sail or is made of Swiss cheese then it's never going to cross the Atlantic.
With this in mind, please welcome the BUSINESS PLAN. Your business blue print that can actually deliver. It examines every aspect of exploring, researching and testing your idea. Building your start up step by step. Some sections explored in a robust plan are as follows;
- What you intend to sell - product or service based?
-Brand & Marketing
-Operations & Logistics
- Costings & Financials
- Legal requirements
- Projected growth
The business plan is where the magic happens. It is all the cogs and wheels that make a business flow. It will save money as you develop your business with a deeper understanding of what is actually needed to make stuff happen! Think tailored strategy spending, not just throwing all your hard earned cash at everything that could potentially help until something sticks.
Business Plans help you;
- have a clear goal of the who, what and why
- plan and develop actionable steps towards your short, mid
and long term goals
- Manage finances & check financial viability
- Focus strategies
- help you secure external funding
Plus a study published in Small Business Economics discovered that start ups who create a business plan are 152% more likely to begin their business than those who don't. Additionally the same study showed that those who plan are also 129% more likely to push forward and grow their business past the start up phase. Doing the donkey work makes you much more likely to succeed.
If you're looking to create a business that stands the test of time, do yourself a favour and take the slow road. Trade time to lay strong foundations. #turtoiseandthehare