It seems like a cliché, but running a business is not unlike running a football team. If you think about all the things that a football team needs to be successful at during a game, the playbook is one of the most important items. For a business, the strategic business plan is like the playbook. That strategic plan helps the business chart out what it is going to do during a specified period of time. Unlike a playbook however, a strategic business plan is itself the play that the business will follow. There can be more than just one plan, too. There can be strategic plans for specific areas of the business or for the business in general, or both.
Business plans are documents that help you work through all the factors that have an influence on startup, operation, and management of any business. Devising and creating a written plan that offers a logical progression of steps from imagining a business to making it a reality is essential for success. Business plans take time and effort and there is a natural tendency or inclination for many business owners to forego them in the interest of speed or convenience. However, a well-developed plan offers a blueprint or step-by-step instructions that literally help you design a business from an idea to a service or product that may be adequately and profitably marketed.
Another way to think of a business plan is that it is like a map. When you are going on a long trip, it is always smart to map out the roads you will be taking. While you outline the directions, you mark off the highways and roads, restaurants, gas stations and hotels you will need along the way. A well-planned trip is easy, stress free and gets you to your destination. The same thing can be said of a business. If you plan out when you want to have a certain number or employees, a customer base, an average profit margin, a growth spurt and so on, then success will come more easily.
I know you may be thinking to yourself what if things change in your business. You may be saying what held true yesterday may not hold true tomorrow. Here’s the important thing to remember when it comes to a business plan. Your business plan should not be set in stone, as a matter of fact, it is imperative that it be flexible. Just like concrete, a totally rigid plan with no room for corrections will crack. Remember that the plan is only an outline of what you foresee happening. Just like anyone else, you cannot possibly know the future, so leave room to make changes as the need arises. Go with the flow. Be careful not to let the plan take over your business.
A business plan will not only improve your odds of succeeding, it will aid you to keep on track. Just like driving or any other mode of transportation, it’s important to have data to help formulate the best route, the most favorable weather conditions, and help enhance the comfort of your ride.
Business owners are all different, each with their own goals and ideas of the world. Create a business plan that focuses on your goals, and it will help you achieve them, every step of the way.
