Step 3 – Planning My New Business
Easy GPS Guide for Business Success
Step 3 – Planning My New Business
We told you earlier that we were going to tell you the reason most business fail, and that the most important reasons might just surprise you.
Well, the most important reason most business fail is… that the owner failed to prepare a written Business Plan.[/box]
OMG!!!!!!!!
You may be thinking to yourself right now, “OMG (Oh my goodness!), isn’t this business planning thing just for people with O.C.D. (obsessive- compulsive disorder)? It’s just a waste of time…I could be doing something important or constructive right now for my business!”
Is this your thought process? If it is, and you are not open to listen to the reasons why your thinking is wrong, then entrepreneurship/business ownership is not in your best interest! Just so you can’t say someone didn’t tell you, failing to plan is planning to fail!….And fail you will.
You’ve heard the saying that “It is easier to ask for forgiveness, than ask for permission. Well this concept does not apply in business. If you don’t ask permission in business, or write a business plan, there is no forgiveness, just a very good chance at failure.
Planning is the foundation that every successful business is built on.
If you don’t plan your business, you don’t have a business.
If you do not do not write a business plan, don’t bother going into business.
Let me say this again,
WRITING A BUSINESS PLAN IS CRITICAL TO THE SUCCESS OF YOUR BUSINESS. NOTHING CAN IMPROVE YOUR CHANCES OF SUCCESS AS MUCH AS LEARNING THE CRITICAL ELEMENTS AND ISSUES THAT AFFECT YOUR BUSSINESS AND HOW TO ADRESS THEM IN A COMPREHENSIVE AND ORDERLY FASHION. THEN ADRESS EACH ELEMENT IN THE FORM OF A WELL THOUGHT OUT, WRITTEN BUSINESS PLAN.
NO OTHER ONE SINGLE MISTAKE HAS LEAD TO THE FAILURE OF MORE BUSINESSES, THEN THE FAILURE TO WRITE OUT A DETAILD AND COMPREHENSIVE PLAN.
A well thought out, well organized, and well written business plan should be able to take you from the beginning conceptual stages of your fledgling enterprise and grow and expand to the formal written all inclusive document that you can take to a bank or give to potential investors for financing. It will also provide you a road map or a GPS (Global Positioning System) devise to make sure you are keeping your business on the right road to success and profitability.
Once again there are no right or wrong responses or answers here. These are just some thought provoking points to start making you think through the essential process of planning your own business and some of the issues that you will have to consider or resolve in mapping our your success through creating a Business Plan.
It is through the process of writing your Business Plan that you will see if the business you are considering, can provide you the results you will need to make your business achieve the results you need to have a viable and achieve the goals you have set.
Again we suggest that you consider carefully your responses to the below. If you think of other issues or questions make note of them and the end as well.