5 Reasons You Should Stop Procrastinating Writing a Business Plan

• jjdavis


• 11 Mar 2016

 

You know you need a Business Plan for your business, so why is it so hard to make one?

Whether you are a large or small business, you should have a business plan.  Period.  It is a wise thing to do.  But for those of us who have had to write one (or think of writing one), the thought of having to sit and create it gives a sense of dread.  Even though I consider myself a planner, I tried to procrastinate.  I mean, there are soooo many other things I could be doing, right?  Working on my practice, working on client work, playing with my son, going out to eat, doing my nails…the list goes on, really.  It just seemed so daunting when I had to do it!  I drug my feet, I mentally kicked and screamed, I threw an inner child tantrum – and I know I’m not the only one who’s felt that way.  In the end, though, I am glad I took the time to create one because I don’t like not having a game plan. 

So, why are business plans so important?  They are your road map, your lifeline, your backup, your everything.  This month in my practice, I review my business plan and make the necessary changes/updates.  A business plan is something that can change with you and your business – it grows, it evolves, it thrives.  That’s why it’s a good idea to review it now and then to make sure you’re still in line with it, or adjust it as needed. 

Here are 5 Reasons why you should stop procrastinating and write your business plan.

1. It defines your business, who you are, and what your goals are.  Fundamentals, really – and we all need to know these.  Who are your ideal clients/customers?  What are you selling them?  Where do you want to be in “x” number of years?
2. It gives you a game-plan on how to accomplish those goals.  Part of a business plan is writing down where you want to be in the future, and creating a road map on how to get there.  Now, life comes up, and this road map can get speed bumps, detours, and diversions….but fix those as you need to and keep your eye on the prize!
3. It gives you a leg to stand on.  You will need to set down your standards in this plan, and you can use these to back you up if a question arises later.  If a customer complains about your hours, you can point out where you told them/displayed them in your agreement or on your property.
4. It helps you plan your fees.  Some people don’t like the “B-word” – BUDGET.  But budgets aren’t necessarily a bad thing.  It helps you determine how much you need to charge people in order to cover your expenses.  Hey, no one wants to be in the red, right?
5. I helps you with marketing.  When you know who your ideal clients/customers are, you can market directly to them, and therefore return a greater profit.  Depending on what type of marketing you do, the initial research for this ideal client and set up can take some time; but once you get past that, marketing will come quicker and easier each time you try something.

A word of advice:  if you are starting a brand-new business plan from scratch, work on bits and pieces of it at a time.  Otherwise, you will get overwhelmed VERY quickly.  You can find templates for business plans online, and decide which parts may take shorter or longer amounts of time.  Then, schedule that time and tackle it!

Alright now, who’s pumped up about writing your business plan?  I know I’m ready to go start reviewing mine 🙂  Let’s all put on our “big girl panties” and get started today!  Who’s with me? 😀