A new week a new month a new year brings each brings new beginnings and new opportunities for you. Whether you are a new start-up or an established organization, there are definitely some parts of your organization that you are still trying to wrap your head around and tackle them in order to move towards success.
A substantial business plan can provide a business with more opportunities to obtain financing, a calendar to figure out and prioritize doing what is more important, various contingency plans, and best of all, a super effective tool to track and measure business performance.
Maverick Mentoring offers help and assistance to entrepreneurs and business owners regarding Goal setting and planning, offering tips and suggestions to help you grow your business and develop a sustainable business model.
Business Planning and Procrastination Should Not Go Together
For many business owners and entrepreneurs, business planning is something that they would love to procrastinate on doing, despite fully knowing the benefits a good business plan could bring to their organization. Because saying no is not good enough, many reasons were made to back up this act of procrastination.
Here are The 4 Most Common Excuses For Not Planning:
- “It’s not necessary”- I don’t see the benefits. My business is still doing fine without one so thanks but no thanks.
- “It’s too unpredictable” – I mean, I’m not a psychic, how am I supposed to predict what will happen?
- “It’s too time-consuming” – I’ve got tons of other things to do, like replying emails and posting internet cat videos on Facebook, you know, THINGS.
- “It’s too hard” – Where should I start? What do I have to do? Where should I go from where I am now? It’s all so complicated!
It is agreeable that building a substantial business plan does require the business owner to put in a lot of thought and time. There is no denying though the advantages it could bring to the business to help it surpasses other competitors in the market.
If You Don’t Have A Plan, You Are Doing It Wrong.
Running a business is just the same as doing a dangerous stunt in real life: if you’re not well-prepared for it, you could end up dead even when only a small problem occurs.
Benjamin Franklin once said “If you fail to plan, you plan to fail”
He couldn’t be more right when we apply it to business planning. According to a 2010 study from the Journal of Business Venturing, business planning has been proven to considerably boost the outcome performance of a firm, especially in the case of established organisations.
Still wondering whether you should do business planning or need help on making one? Contact Maverick for a FREE one-on-one consultation. It will be our pleasure to help you build success with your business.
