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Why most businesses fail before they even start.
You’re having coffee or playing golf with a few friends and someone mentions a problem they keep having and before you know it we have a genius idea to monetize a solution to this problem. If you’re reading this, we just want to congratulate you on being wise enough to at least stop for a moment and try to make a plan. Many brilliant ideas fail before they begun, but a brilliant idea is nothing with a good business plan to execute the idea.
Lies spell doom, truth spells success.
Do you want to answer a few questions on a form and expect it to basically reaffirm what you already knew, “YOU’RE BRILLIANT?!” Reality check, a business plan is a document that is designed to tell you the truth about your idea and help you decide if brillance is enough or if you need a whole lot more to be successful. A business plan doesn’t lie or at least won’t just tell you what you want to hear. Sometimes we need to hear the truth about our idea and between our friends and our own ego, we’re not listening to the obvious.
Are you the 1% or the 99%?
If you were going to build a ship that wouldn’t sink, but could weather severe storms and would spend many years at sea, you’d take a few minutes to build a good plan for that ship. A business is no different. It can be your vehicle to financial freedom and can take you places in the world you’ve only dreamed of, but if you don’t plan well, you’ll sink just like 99% of people who have a brilliant idea, throw together a canoe and head out to sea.
Business Planning Success Checklist
- Download the free business plan template
- Print or email a copy to each person involved
- Set a date and time for everyone to meet
- Don’t get in a rush. A good plan is a good foundation. Set aside a little time each evening or weekend (whenever you and your cohorts are available) to review a section or two of the business plan.
- Even for the most simple business, plan on this process taking a few days and as much as a few week depending on how involved your business is
DOWNLOAD:FREE Business Plan Template
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Other great links for free business planning resources:
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