By Sheila E at August 25 2019 17:11:26
The time of the year to huddle all of your business colleagues in a room to hash out the key initiatives for the upcoming year. The time to throw everything up on the wall and try to get everything done in the first quarter. "This will be the year that all plans will be met" is the battle cry! Every vision, idea and strategy gets bantered about _ shouts of "there are no bad ideas!" fill the air. The room is electric with visionaries exchanging ideas on how their idea solves all issues, yet year after year, it seems that plans never actually come to fruition.
In many cases business plans are very important but so much of the time it's a plan to try to convince someone else that you know what you are doing with your business like banks, investors, partners, etc. Now it's true that a well written business plan can also be a major benefit to your success as well if done right. It can guide you and keep you on track and can be the vehicle to get you were you want to be especially with so many outside forces now days that bombard you. A plan can be extremely important to your success especially when you look at the statistics that says 51% of small businesses fail sometime during their first 5 years.