“If you fail to plan, you are planning to fail” – Benjamin Franklin. That saying applies perfectly to business planning, or as I like to see it, planning your business journey.
In this episode of ‘I Hate Numbers’ I am going to be talking about Planning your Business Journey, how to turn your business dream into a closer reality
Why you need a business plan
Your business plan is a smart way to map out your future story. Lots of businesses do not bother writing one, then again lots of businesses do not survive and thrive. If you fancy running a business and making money, then have a listen.
Your preference may be to have a time-consuming hobby and chase your tail, then read no more. Many hear business plan, and think it is only needed when you are after funding. You hear business plan and think a waste of your time and energy. You hear business plan and think what I need one for, I know what I am doing.
If that is what you think or been told, think again,
A good business plan
- Makes sense of your jumbled-up thinking
- Helps you focus
- Chucks that outdated thinking onto the rotting veg pile
- Brings clarity to where you want to take your business
- Helps your business make money.
We need to consider the main building blocks to our business story, to our business planning. We need a coherent and consistent story. The main chapters, the main building blocks include
- Business Summary & Purpose
- Business goals and objectives
- Markets and competitors
- Sales and marketing
- Operations (not the medical kind)
- Your Numbers
- Monitoring and accountability
“A Business Plan with no numbers & detail is like going to a restaurant that doesn’t serve food, it’s pointless”,
Your numbers for your business plan reflect the story to be told. Numbers come second, get your story straight, overlay the numbers, edit, review, and publish.
Your business plan is there to help make you money, not run a hobby. If you want to make money, you need to spend, understand risk, control, and bring that money in.
Good to Know
“Everyone has a plan ’till they get punched in the mouth.” Mike Tyson.
Your business plan is not cast in stone, you need to react and adapt to changing circumstances. You need to grab opportunities that come your way, ones that you had not envisaged. However, keep a focus, and do not be distracted by shiny business baubles. Put in that sweat to get that equity.
Grab a coffee, make yourself comfortable, sit back and listen.
I love doing this podcast and sharing my love of Numbers with you. Check out the link to subscribe and don’t miss an episode. Help me spread that Number Love by downloading it, listening, and taking action in your business.
In This Episode
- Understanding the reasons why your business planning is about story telling
- Knowing the key parts of business planning and how they fit together
- The vital role that your numbers play in your business planning
- Developing your own Numbers confidence and decisions
- Take more control of your numbers to help make you money, survive and thrive