Why Do a Business Plan?
To Grow (Catapult) Your Business That's Why.
When it's in your head it's not as likely to happen--too much missed.
Before becoming an executive business coach, in my previous career as an electrical engineer I discovered some key practical things about business planning that showed me how to explode the growth of a business.
When I was in college if I was asked to design something my designs always worked?.on paper.
When I got out of college, my boss would frequently come to me and ask if I knew how to design this or that. I always answered confidently, "Sure, I know how. Pointing to that space between my ears."
Then I would design it on paper. And the first aha I learned was that once written down I could see more than I could when it resided between the ears. This piece just didn't come together with that piece?.and that one?.and that one?.
So, I would gradually work out all of the gotcha's until all of the pieces worked on paper.
Then I'd go build one?..
And it almost never worked. I had made an assumption about something in the real world that wasn't quite right. I'd missed something about the real world. So, I'd work back and forth from the ideal paper design to the real world result until it started working in the real world. Then I'd go back and document that on paper.
Now the real BIG AHA!
I don't believe there is a self-respecting engineer anywhere in the world that is ready to release his design to production when production is screaming for it. The reason??? Once the engineer has a real working example on paper things start jumping off the paper at you. You can see things you didn't even think of before. There are new concepts there.
"Gee, I didn't see that. If I change this?it'll work better." Or.."Wow, over here, if I do ____ then it'll be cheaper to produce" Actually, once it's on paper and working it's almost never ending what you keep finding.
Business Planning Between the Ears Doesn't Allow You to Find the Opportunities or the Gotcha's That Paper Planning Shows You Clearly
I had said to my boss, "Sure I know how" when he asked me if I knew how. But it was between my ears. I learned that you have to get it on paper to start seeing the gotcha's before you can fix them, and once you build a real one you start learning new things about how to optimize, how to make it cheaper, how to make it work better, and it never ends. There are so many opportunities to make it better. Now, let me ask you one more question:
How many people do you know that are running their business "between their ears?" How many are saying "I know how"?
I actually have had companies tell me "Get out of my way, I don't have time to plan. I have to produce NOW" Then they call me back in a few months asking for help after they have lost hundreds of thousands of dollars.
That's when the real aha hit me. After putting it on paper I've seen those same business jump 5 times, 10 times in revenues in just weeks.
So, how many do you know that are running their business between their ears and have never put it on paper? Or, some may have put it on paper, but it's setting somewhere on the shelf.
The opportunity to grow your business, BIG TIME, is
Alan Boyer, President/CEO of The Leader's Perspective, LLC http://www.leaders-perspective.com is considered one of the world's leading breakthrough specialists. He has worked with some of the worlds largest companies, on projects in the multi-billion dollar area, and with single proprietor companies. He has worked on many hundreds of projects with companies that have resulted in multi-$100 million savings or gains.
With over 35 years of business, quality, and process experience, he has catapulted businesses lightyears ahead in weeks. Some have doubled and some have jumped 10 times. He claims the key to that is:
He helps people & companies worldwide reach further than they EVER thought possible?.FASTER.
More Resources
Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exitingMore Strategic Planning Information:
Related Articles
Regroup - How To Do It And Why It Works
Regroup?is this a new management trend? Not a chance! Regroup is simply an opportunity to end one month's business cycle, recap the performance of your company and outline a plan of success for the new upcoming month. Why does it work? Because it allows each person on your team to assess their performance from the previous month, and make any necessary adjustments for the new month.
Six Key Principles of Corporate Accountability
The foundation of any business transaction is the promise of fair deal. In complex organizational relationships, it is all too easy to lose sight of the existence and terms of this deal.
Home Improvement Construction Project Planning
The first task before hiring a contractor for home remodeling is laying out the details on what exactly you want done. This will ultimately save you time and money, as you will be able to choose the perfect contractor for your construction job, and get the job done correctly the first time.
Fail to plan... or Plan to FAIL??
Running a business, whether it be an offline multi-billion
dollar company or an online part time home business, they
share many similar traits.One of the biggest obstacles I have endeavored to
translate to many, many small business / home business
people, is a very simple phrase.
Microsoft Great Plains in Aerospace & Defense industries - implementation & customization highlights
Microsoft Great Plains fits horizontal markets clientele and in case of Aerospace and Defense industry we'll talk about contractors - parts and subsystems for government contracts. We do not necessarily talk about large corporation, however models described could be implemented for large publicly traded company.
Laying It Out On Paper
You might be thinking to yourself, "Why should I waste my time writing a business plan? I know what (web designers, freelance writers, professional organizers) do!" Knowing intellectually what your industry is all about and pinpointing exactly where you want your business to go are two entirely different propositions.Something happens when you empty vague ideas out of your head and SOLIDIFY them on paper.
Going Self-Employed - A Few Handy Hints
The day you decide to take the plunge and work for yourself will be one of the most life-changing choices you ever make, whether starting a company large or small or as a freelance; from the very first moment of being self-employed, you and you alone will stand or fall by your decisions and actions. You will be responsible for steering your business through all its ups and downs, good times and bad times with no guarantee that everything will turn out right in the end.
Business Strategy Planning Made Easy
Ask Yourself three simple questions that affect your strategy planning..
Resilience
I. INTRODUCTIONThe term resilience, which is of frequent use in the psychotherapy area, has recently started being used in the corporate field.
How Copying the HBO Schedule Can Boost Your Business
I'm not talking about posting the HBO schedule on your website or sending a Xeroxed copy around to all your customers. When HBO came onto the scene they were innovative, fresh, and willing to do things other people were not.
Your Business: Will It Have A Happy Ending?
"Begin with the end in mind," says Stephen Covey in his book Seven Habits of Successful Living. Those who have created a successful business know it does not happen without planning, hard work, and a little luck.
Corporate Contingency Planning
Part 1A few weeks ago I attended a seminar sponsored by Independent Solutions Insurance Inc (Edmonton) entitled "Seminar On Disaster Preparedness", during this seminar I heard stories from individual company owners who told us of their misfortunes and how they coped with their crisis. In both cases these crisis were caused by accident, however, a potential catastrophe nonetheless.
Dotcom Business Plans Archive Project
One of the most important initiatives in the domain of business documentation is that of professor David Kirsch from the University of Maryland, who thought of a dotcom Business Plan Archive - , a project that consists of collecting business plans for posterity. The project was started in 2002, through the Web portal businessplanarchive.
Are You Aware of Planning in Business?
Human beings are rational agents. Rationality endorses one to take up planning in every sphere of life from shifting to a new house to marriage, as well as business.
Top 10 Tips to Create A Business Plan! (For People Who Hate Business Plans)
One of the key challenges for any business is to remain focused and invest resources for maximum pay-off. It's said that 80% of a business's activity accounts for only 20% of total profits.
What is Your MSP?
For many consumers and producers, MSP is an acronym for Manufacturer's Suggested Price. Today, I would like you to consider a different definition for these commonly used letters -Marketing, Sales and Profitability.
Expanding your business in a franchise system
If you are a successful franchise of a large franchise brand or chain, chances are you will wish to expand. The most important thing to do is make sure you are on the most positive terms with your franchisor.
Call in the SWOT Team: Produce More Opportunities to Expand Your Business
Have you ever done a SWOT analysis? No, it's not some dangerous military
maneuver. It's actually a fun and incredibly helpful business development exercise that will give your company focused direction and great marketing ideas -- whether your business is brand new or has been around for years.
Leverage - A Small Step For You /A Big Change For Your Career
Cassy was an employee of a nonprofit who had been at her job 5 years. She came to me because she felt that the organization she was working for didn't value her and was upset because others had been promoted but she had not.
Mastermind Your Way to Success
What do Mark Victor Hansen, Robert Allen, Anthony Robbins, Andrew Carnegie, Henry Ford, Thomas Edison and Ben Franklin have in common?They all leverage the power of the mastermind team.The mastermind works on the concept that two (or more) heads are better than one.
Titanic Precautions
Many movies have been made about the tragic story of the Titanic. Arrogance and ignorance was definitely present during its maiden voyage, which was Titanic's last voyage.