| Business plan development is considered a necessary | | | | Keeping the Team Consistent |
| evil by many entrepreneurs - it is the process of | | | | Another major reason to plan is to keep all team |
| creating a document which will help them pitch to | | | | members on the same track. Without a written guide |
| investors and lenders. However, funding aside, you will | | | | setting out the mission and strategy to achieve that |
| improve your chances of business success if you take | | | | mission, different managers may develop their own |
| business plan development seriously. | | | | ideas about the priorities of the company and end up |
| Planning Does Help | | | | working at cross purposes. To serve this purpose, the |
| It is a simple "out" for entrepreneurs to throw their | | | | business plan must be shared between the managers |
| hands up, saying "If so much of business is about flying | | | | at least. The managers must all work to pass on |
| by the seat of my pants, reacting to opportunities and | | | | guidance to their staff based on the plan. |
| threats and they arise, and changing plans continuously, | | | | Setting a Reflective Tone |
| there is no reason to plan for my own purposes. | | | | It is extremely easy for entrepreneurs and small |
| Certainly, a plan will be required by funders, but that | | | | business owners to be caught up in the action of |
| plan does not have to have any similarity to the tactics | | | | running their businesses on a day-to-day basis and |
| which are used in the end." | | | | consider reflection on where the company has come |
| However, planning does help, even if the plan needs | | | | from and is going to be a luxury. Being serious about |
| adjustment down the road. A plan can zero in on | | | | business plan development from the outset sets |
| alternative strategies which might work and throw out | | | | reflection as a priority for the company, and a business |
| those which do not fit the company's intended brand, | | | | launched on this foundation stands a better chance of |
| customer markets, or competitive situation. Without a | | | | continuing to use planning as a tool going forward. |
| written plan, the company is in danger of trying out | | | | When taken in balance with action and awareness of |
| strategies which seem to make sense on the surface, | | | | the present situation, reflection and planning can serve |
| but really lack a good fit with the company in the | | | | the business well. |
| long-run. | | | | |