Business plans success?
Abusiness plan in itself does not, and cannot, guarantee success, but coupled with a rather large dose of discipline can be extremely useful in enhancing the chances of success. If tasked to walk around your own home at midnight without turning any lights on, you would no doubt be able to do so. You might bump your big toe or bruise your knee, but you should be able to complete the task. Using a torch will certainly allow you to manoeuvre faster and without hurting yourself. Similarly, doing business without a written business plan is tantamount to operating in the dark – you could probably stay in business but your chances of success would be greatly increased with a torch (business plan) in your hand.
Every business owner needs an ‘informal’ business plan to assist with maintaining business focus and to manage the day-to-day operations of the business. This type of plan can be likened to an instruction manual to be referred to when making business decisions that affect the sustainability of the business.
It can also act as a form of sanity check that contains solutions and strategies relating to the following: SALES What are the sales targets for the week and how are these sales weighing up against the targets set to ensure profitability? How will sales activities be conducted, what salesperson is seeing who, when and why? When and where will sales meetings be held? MARKETING What will be done to promote the business and its offering? Who will be doing what, when, where and how? Are these strategies being performed and activities carried out by the people responsible in order to facilitate the sales process by ensuring that clients and potential clients are aware of the business offering?