Most companies don’t have business plans so they tend to wander around a bit and then chase the first thing that looks good. This can sometimes work but most often doesn’t do well for the company. A good business plan will help you stay on course for your company but it shouldn’t be so rigid that you can’t change course a bit to pursue some opportunities that you didn’t even know about.
As I have mentioned before about business plans, every company needs to have a well thought out business plan. I once paid 87K for a company to do a business plan for one of my Internet companies. One day, one of the consultants told me that when we are done with the business plan; the plan wouldn’t be worth the paper it is printed on!!!! Now you can imagine my shock! He explained that it’s the process that your business plan makes you go through which is the real prize. A business plan makes you ask the difficult questions, plan for both success and some failure, and then put it all in one document for all to see. It’s the process and what you learn from the process that is the real prize.
However here is my counsel… a business plan is mostly assumptions and insight. When you really get your company up and running you can run into things you didn’t know or even think about! So, a business plan can be a living document that you can add in your new findings or revelations. This is important to understand that you need to have a business plan to set the direction of the company and then as new data comes in you can refine your plan. Don’t scrap the plan with new data but see how it all fits together to make your company come to profitability.
The East Valley Coalition wants you to be successful here in the valley and that end we offer these blogs for your to ponder your adventure plus success here in the Coachella Valley.