Business plans

[Johann D Landsberg]

How many business owners refer back to their business plan after start up?

[Dave A]

I confess I don't look back that often. About a year ago I came across my business plan from 5 years ago more by accident than by design. It was an interesting read but mostly not relevant to the current challenges.

However, I do draw up a new business plan each year and carry it around with me to remind me of my strategic objectives and priorities for the year.

[roryf]

At the start of each year in draw up a plan and try look back at least once a month. I have found this to be very helpful to me.

This year I have done a one pager with the big goals/challenges and have broken it down into several pages thereafter.This really works well for me as I get sidetracked easily and in a glance I can focus again.

It is very interesting as Dave said to go back a few years and see what has happened since.

[Blurock]

I found that very few business owners actually use a business plan. Why do you need one?

Well at least you have to set goals for yourself and your business. This you can do in various forms as long as the goals are attainable and can be measured. You may break your goals down into monthly increments and use your diary, spreadsheet or any practical way of reminding yourself and measuring your progress. A projected cash flow is one of those essential measurement tools and should be part of your business plan. Look at it often and measure achievement against projections.

If you are looking for funding or investors, you need a more elaborate business plan that also tells the funder about your business, what you stand for, past achievements and where you are heading. And of course how much money you need and how it will make the business grow.

Once you have this document prepared for the bank etc, revise it and keep it up to date. You will be amazed how much you learn about your own business and thought processes. .

[Justloadit]

The main problem with small business, is like trying to keep a rowing boat on a straight line course on a choppy sea. Any small wave has the strength to move you off your course, no matter how hard you row, you will be shifted from your line. The shift in no way means that you are not moving. In the current times, no matter how good your business plan, by year end it will be no nearer to it. To me goals and business plans are not the same, and this is the reason that small business survive, simply because they can practically move anywhere on a dime, this ensures the goal is met which ultimately is financial reward.

[JohnSilver]

The main problem with small business, is like trying to keep a rowing boat on a straight line course on a choppy sea. Any small wave has the strength to move you off your course, no matter how hard you row, you will be shifted from your line. The shift in no way means that you are not moving. In the current times, no matter how good your business plan, by year end it will be no nearer to it. To me goals and business plans are not the same, and this is the reason that small business survive, simply because they can practically move anywhere on a dime, this ensures the goal is met which ultimately is financial reward.

I learned this the hard way recently when my accountant lost my bank statements and didn't bother to submit tax returns since 2007.

I also don't have a business plan, nor can I afford professional advice on how to get one drawn up.

[geraldenek]

I have attached a draft of a business plan please don't me if this is not the layout you would prefer or not to your likings.DynamicBusinessPlan-word.docBusinessplan_Booklet.pdf

[Bizfact]

thanks

thanks for the business plan layout Geraldenek

[3x-a-d3-u5]

However, I do draw up a new business plan each year and carry it around with me to remind me of my strategic objectives and priorities for the year.

Could you say its more of Strategic planning?

Strategic planning is concerned about the overall direction of the business. It is concerned with marketing, of course. But it also involves decision-making about production and operations, finance, human resource management and other business issues..

I have attached a draft of a business plan please don't me if this is not the layout you would prefer or not to your likings.[ATTACH]2367[/ATTACH][ATTACH]2368[/ATTACH]

Hate to throw a cat amongst pidgeons, but have you checked out http://www.bplans.com/sample_business_plans.cfm I used to check them out for writing Business plans for feasibility of my many ideas....

[Dave A]

Could you say its more of Strategic planning?

It certainly reflects my strategic planning.

[jasonpat]

After the start up of business if every thing is going right then i dont think so there is need to refer the plans, if the plans are not going in the way as you think then you can refer these ideas.

[Blurock]

After the start up of business if every thing is going right then i dont think so there is need to refer the plans, if the plans are not going in the way as you think then you can refer these ideas.

A business plan is not something you do and then put it in the bottom drawer. Your business plan should reflect your ideals and your goals. These could be flexible and can be adjusted according to market and economic cycles. It can be an informal document for your own use, as opposed to the formal, nicely bound copy you provide to your bank or financiers.

If you do not constantly work at your goals and plan, you may find that you are being more reactive than proactive. The result is that you spend more time working in your business than working at achieving your goals. Make the business work for you, not you for the business.

[roryf]

I look at my business plan often, approx every 2weeks or so.It helps me not not get distracted with the day to day issues and to focus on key goals like long term goals.Short term goals are great and need to be looked after but I would rather spend more time on my long term growth.

[shani]

We draw up a business plan at the begin of every year. but it seem not very helpful. the business did not go to the way we expect.
After all, the social competition is too intense. is this a excuse?

Any way , every plan needs to be hard work for it , even we don not achieve it .
Do my level best and leave the rest to God's will.

[Dave A]

We draw up a business plan at the begin of every year. but it seem not very helpful. the business did not go to the way we expect.
After all, the social competition is too intense. is this a excuse?

I assume this means the business underperformed compared to expectations

There is a saying - "one of the signs of madness is doing the same thing over and over and expecting a different result".

Time to change the plan (or the way you draw up your plan), methinks.