Small business BIG growth®
Words by John Di Natale, Director of BIGthink! Business Booster
I’ve been speaking with a lot of aspiring entrepreneurs in the past few months.
We recently ran the inaugural Young Business Hustler Award 2015, where lots of 18-25 year olds pitched their business idea to a panel of experienced entrepreneurs to win a free year in our Business Booster program. And I also meet many aspiring or early stage business owners across all age groups.
One of the things I’ve been hearing a lot lately is; “I haven’t started my business yet because I haven’t written my business plan.”
I’m not a fan of the plan. At least, not the traditional business plan. There, I said it.
If you’ve been in business a while, you would have written at least a couple I’m sure. You probably started by Googling a template and then working through the 4Ps and the points of difference and the target market and SWOT analysis and competitor research and… you have a 50 page business plan. Now, assuming all the sections of the template actually apply to your business and you can complete them with meaningful, well-researched and relevant information, that can be a worthwhile exercise. Especially if you are applying for finance and the bank wants to tick the “business plan received” box on your application form.
But here’s where I have the issue… Then what?
That’s as far as most business plans go in terms of their usefulness. Usually, they then sit on the corner of your desk for 6 months or forever and are never really put to any good use. So, when people use the “I don’t have a business plan” excuse for not getting their business going or growing, I don’t buy it.
No business plan. No problem, lets create one – preferably a one-pager. Lets get clear on the vision of what it is you want to achieve. A list of who is on your team. What resources you have available. Who you can partner with. What capital you have available or where you will find it. How you will structure the business. What the first steps are… and then lets get on with those first two or three steps. Lets start getting those done!
We can review, refine and amend the plan on the run because lets face it, its probably going to be out of date very, very quickly as your business gets rolling.
Thinking BIG, getting shit done but perhaps most importantly, getting started. That is after all, the first key to success – starting!
JOHN DI NATALE
John Di Natale is Founder and Managing Director of BIGthink! Business Booster, a highly sought-after speaker and business growth specialist. The BIGthink! MasterPlan and Business Booster programs are specifically designed to help you grow your business faster and build the life you really want!