I made sure that my first goal, outside of deciding what type of business to open, was to create a business plan, and here’s why.
- All of the books I borrowed from the library encouraged me to write one (there was no Internet in those days).
- All of the companies I’d worked for in the past had one (I didn’t enjoy working for them, but planning made sense).
- All of the biographies of famous people mentioned that they created a plan on their kitchen table, in a garage, etc.
If planning was the linchpin that helped them achieve success, why not try putting a plan together for myself?
There was another important point about planning: without one, my daily accomplishments would read more like I was an employee rather than an entrepreneur. With the former, I may as well keep working for someone else.
If you’re not sure what to include in your business plan, you’ll find two models in the book, Marketing Strategies for the Home-Based Business. The book would not have been complete without providing you with example plans, which were both challenging and exciting to put together.
One plan is for a service-based business, while the other models a product-based firm. Look at both, and put your own plan together according to your vision, target market, and how you see your business positively impacting on your chosen industry.
What’s the one thing that’s stopping you from putting your business plan on paper?