Do You Have a Business Plan for Your Business?

Too many people that I have spoken with do not have a business plan.  Why?  Well, they are human and they do not want to box themselves in to one thought or idea.

I understand their hesitation, I really do.  I thought the same thing when I started my business, but what I learned over time is that a business plan should be a fluid document that is meant to be referred to often and either followed or changed.  We all will get sidetracked on issues that do not fall squarely into our business plan and that is the best time to dust off that document and peruse it.  You may take a look at your plan and think, “Wow, I am way off track!”  Or you may say, “Ooh, my business plan does not really reflect what I am doing now.”  Either gut response is a good one.

If you find yourself with the reaction that you are definitely off on a tangent, your business plan can be used to bring you back around so you can focus on what you really want to do.  If, when you review your business plan, you realize that you are doing something different and that different thing is what you want to be doing, that’s fine, you just need to update your business plan to reflect your new focus.

I guess all of this is to say that you do not need to etch your plan in stone.  Especially when you are first launching your business, your business plan may be insufficient or may not really focus on what your business grows into.  A business plan is meant to focus your business in your eyes and as your vision changes so does your plan.  If you do not have a business plan, start drafting yours today, it’s never too late. How’s your business plan coming along?

If you are needing help with your business planning  contact us to schedule your comprehensive Business Building Benchmark today so we can identify the best course of action for you. 

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Written by Integrated General Counsel

Our focus includes handling a variety of corporate matters and also includes litigation in state and federal courts. Our current practice includes providing transactional services and representing a variety of small and medium-sized companies as their outsourced general counsel.