How essential is a business plan??

[YesYorkshire 10]

I personally would only make a business plan if you intend to aquire funding or especially if you require investors.

 

I would reccommend a to-do list that will keep you on top and in front of the tasks that have been completed and the tasks that need to be done to get the most from your business. Even if any task is completed you can write ideas of how to exceed the results of any outcome.

 

I would aim all your efforts at promotion, revenue stream development, a great menu, top class customer service and hygiene.

 

Try to think of ways to stand out from your competitors. Something on your menu that nobody else has. Create, implement and succeed.

 

Offer your customers a royalty card that offers them a free coffee/tea after so many purchases. Give your customers a reason to return for more.

 

Good Luck.

Edited September 11, 2009 by YesYorkshire

[spinac 10]

I don't set goals. I set tasks. I see what needs to be done and break it down as daily, weekly tasks. Not goals.

 

How do you decide what needs to be done theHook? Surely "what needs to be done" is defined by your longer term goal?

 

If you don't have a goal, how can you know which tasks to set?

 

Is your only business goal to make money perhaps - or is it simply to be busy with tasks?

 

Personally, it's not the "goal setting" that gets people. It's the "working the plan" and follow through consistently everyday.

 

Yes ... but you do need a plan in the first place in order to be able to "work it".

 

And ... the plan required to achieve the goal (and the tasks required to implement the plan) vary substantially with the goal.

 

If your goal is to be successful in a lifestyle business then your plan and actions will be very different from someone with a goal of building a business empire.

 

Goal >> Plan >> Tasks

 

Think - what do you want to achieve? (Goal)

Decide - the best way forward for you

Plan - the actions you need to take

Action - "Work the plan" - actually do the tasks on your to do list

Review - What progress you've made. Are you on track? What needs to change in order to achieve the goal?

[indizine 10]

time management means to manage your own time, which is managing yourself (of course) so it is actually the same thing.

[spinac 10]

I personally would only make a business plan if you intend to aquire funding or especially if you require investors.

 

Invetors need to see a plan they can believe in. They want to be sure they are going to get a return on their investment. They want to know the details in order to assess the risks.

 

If you think of the business owner as the primary investor in the business, why wouldn't they take a long hard look at the prospects of making a return on their investment?

 

Some people go to sea with inadequate training, experience and planning. It keeps the coastguard busy.

 

Some people go into business with inadequate training, experience and planning. It keeps the insolvency practitioners busy. http://www.yell.com/s/insolvency+practitioners-sheffield.html

[YesYorkshire 10]

In every business that i have run, it has been online as i dont believe in offline business due to too many risks so my plans are in my head, not on paper.

 

I dont think i could get my head around an offline business. Online is way much easier and in most cases you dont even need to deal with customers as other companies do this for you.

 

My business plan is simply, design, implement, monetize, advertise, increase conversion, profit, visit the bank. Im sure it is much more complicated offline.

[indizine 10]

Any kind of business has a level of responsibility so yes, it depends how much you want to take on and how much you know you can effectively and successfully handle.

[YesYorkshire 10]

Everyone is different, if you believe it would be beneficial to you then make a personal business plan.

I prefer a to-do list so i know what i need to do, what i have done and how i can improve what has already been done.

[Karis 11]

I find my business plan really useful, most specifically for the finances section, which I have been updating on a weekly basis.

 

But it does help people find out more about your business in very easy terms.

[theHook 10]

How do you decide what needs to be done theHook? Surely "what needs to be done" is defined by your longer term goal?

 

If you don't have a goal, how can you know which tasks to set?

 

Like I said, everyone is different. I finish what I want quiet well without goals. My future is not based on a goal but vision.

 

Result not deadlines. For example..

 

I know how much money I want to make a month. So, what I did, is wrote down the tasks I needed to do.

 

I carried these tasks out = result.

 

I look at this result and feel - I know what it took to get this result, I have some options here to make more.

 

So, I refine and do more work. Again I get a better result. Now, I see what it takes to get a certain type of result. I also know how much work it took. I didn't base this on deadline, dates.

 

I test, track but in the forefront of my mind is the crystal clear vision of exactly what I want to achieve.

 

I have two options here. Either I do what self employed do, and do everything. Which is not a great choice, or I outsource and find leaders, of skills and expertise to hire.

 

So I do that.

 

Again result. And from this result I know what else I need to do to get a greater and better result.

 

None of it was based on deadlines, goal settings but on...result.

 

Because ONLY on result do we know what actions to take, what resources to use, where to focus on, and so on.

 

So it's simple for me. I focus on..

 

Know where I'm going, what I need.

 

Set the task.

 

I have like a mind map, images, a path but I don't stress on time limit. That's how I work and it may work for me, and may not work for others, but I finish my work quiet fast and faster than I did when setting goals.

 

And I feel more relaxed too.

 

I use to set a deadline, this leaves room when if one doesn't complete the deadline they think they failed. They feel down. Instead of seeing the result, see where to tweak, refine and see it as a learning curve.

 

You procrastinate and fear sets in.

 

So, when they don't get to the deadline on an alloted time, they have two options..

 

1. Stress and panic

2. Put more hours in to make sure to complete deadline.

 

This is why most people don't achieve goals. The problem again is not setting goals. The problem is way back.

 

The philosophy and belief system in the person. Setting goals doesn't mean you're going to achieve them.

 

Getting those belief system sorted does.

 

So, since that is the case then it is best to be..

 

1. Crystal clear in what you want to achieve in life.

2. This then provides pulsating burning desire.

3. Act and evaluate result.

 

You think someone with pulsating desire needs goals to finish something.

 

I don't need goals to tell me what is urgent and when it needs to be done.

 

All I do, is know the amount of work it needs. Create the task for this work. Create and control my environment to not be distracted.

 

And get the job done and I do, because the goal is not completing something on a certain time limit.

 

The goal is finished the work with quality and enjoying what I do.

 

Now, if goal setting works for you. Great. Happy for you. No confusion from me to understand that works for you. Great.

 

Because...everyone is different. Everyone has to figure out how they work.

 

And how everyone works, is going to be totally different to anyone else. The day we set things and say..

 

"Goal setting is the way," is like saying, "this is the right way only."

 

What we forget, is logic got nothing to do with finishing a task. It's based on emotions, desire, and a true pulsating desire based on crystal clear vision.

 

But hey, that's me.

 

If goal setting works for you. Cool.

 

There we go. We different. That's a good thing.

Edited September 13, 2009 by theHook

[spinac 10]

I read your reply theHook and at first couldn't find anything not to agree with ... other than the fact that you seem to be setting goals, but just not calling them goals ...

 

So it's simple for me. I focus on..

 

Know where I'm going, what I need.

 

Set the task.

 

I thought "how does knowing where you're going (your desired outcome), and planning the tasks to achieve that outcome differ from goal setting?"

 

However, what you're saying is that you don't set deadlines so as to avoid the feeling of failure. Your vision (ultimate destination) remains the same, your tasks (steps along the way) remain the same, but you're just not setting time limits on reaching certain waypoints.

 

In a competitive business world, aren't deadlines essential? Hey if you can get away with no pressures of time, I envy you!

 

Do you set deadlines for the people you hire ... or are they free to take as long as they want???

[Spectre 10]

you dont need a buisness plan at all , theyre all nonsense

 

I think you're all nonsense Craig12:loopy:

[YesYorkshire 10]

Everyone is entitled to an opinion i suppose. Depending on the individual and the level of experience would determine if a decision is made to build a business plan.

 

If you are new to the certain business sector then you need to know exactly what to do, what you have done, the results and what you can implement to increase existing results.

 

If you have alot of experience within a certain business sector then you may already know in your mind what needs to be done if you have made yourself a success already within it and just wish to expand.