Planning for Your Business

You don't need a three ring binder full of business jargon, goals, and a mission statement to have a plan for your business. There are many business consultants out there who would argue with me … vehemently. But as a business advisor, not a consultant, I think the important thing is for the business owner to know the story of the business for themselves. This enables the owner to make choices that are coherent and effective in the short run and the long run.

I have had many conversations with business owners on the subject of a business plan. One of two conditions result. One, they feel guilty that they don't have a plan, but after probing a little you find they do have a plan, it's just not written down. Or two, they do have a written business plan and they proudly pull the dusty binder off the shelf to display it. The ironic root of both these conditions is the pervasive conception that having a concrete business plan is "good".

I'd like to first point out that having a plan doesn't necessarily mean that it must be written, and second that having a written document doesn't mean you really do have a plan for your business. A few simple steps will help you make some very effective choices for you and your business.

Set aside some time to answer the following questions:

• Why am I in business? Is it to make money or to live my work?
• How in the course of my business are my customer's lives improved?
• How are my employees' lives enriched by being part of my vision?
• Ultimately what do I want my business to produce for me?
• Do I have the skills I need to lead my own business?
• What actions should I take immediately?

The important part of this, as I mentioned earlier, is that this "story", revealed in the answers to these questions, lives within you as the business owner. Yes, it does require at times for you to share with others the plan, and sometimes they want it written (when you go to get financing for instance). However, when leading your employees or speaking to your customers, if you can tell a story that is compelling and includes them, then you are gold.

All too often business owners live with this struggle around business plans that is not necessary. My advice - let it go. Let go of the guilt if you don't have one written down. If you can answer the questions above - you have a real plan! If you thought that dusty binder that you paid $10,000 for was your plan, throw it out and answer the questions above. You'll have something far more powerful than some stale white-paper someone else wrote for you.

Miche Suboski

Making the Right Hiring Decisions