All so true! An ugly factoid: "60% of the businesses that failed had no business plan. " ~ SBA study of companies that went out of business. Seems like a simple enough solution for success. I've been working with small and growing companies for 25 years and we developed BizPlanBuilder business plan software to help entrepreneurs create the blueprint for their entire venture. Even the financial models are usable by non-financial people, yet they yield investment-grade projections. Doing everything you recommend is easily within reach, easy to do and worth the effort. http://www.jian.com
Seattle, Washington
Planning for Small Business Success
What is one of the critical differences between successful businesses owners and unsuccessful businesses owners? It’s not how much money they start with, or where they come from…
"The general who wins the battle makes many calculations in his temple before the battle is fought. The general who loses makes but few calculations beforehand." Sun Tzu
What is one of the critical differences between successful businesses owners and unsuccessful businesses owners?
It’s not how much money they start with, or where they come from…
It’s not their level of education...
It’s not who they know…
The majority of truly successful business owners have one thing in common…
They are really good at deciding exactly what it is they want, creating a detailed plan for getting it, and putting that plan into action.
You see, successful people don’t just wait around for things to start happening…they make things happen. And not just any old things—the right things.
So how do you know what those “right things” are?
I like to say “The road to success is paved with clear intentions.”
I know I’m taking a few liberties with a well-known (and not nearly so positive) phrase. But I just couldn’t resist…
Besides which, it’s true.
In order to reach your goals, you first have to have some. And they have to be crystal clear.
Because if you don’t know where you are going, who knows where you might end up??
Sounds logical enough, right? Yet it is amazing how many people don’t follow this simple rule when they’re trying to start, or grow, a business.
Yet once you know exactly where you want to go, it’s much easier to develop a roadmap to get from point A (where you are now) to point B (where you see your business in the future).
Here’s a simple example: Let’s say you want to make more money.
Ask yourself…How many clients do I need, and how often? Who is my ideal client and why? Where could I find them, what would they want to buy, and why? How much do I need to sell to meet my financial goals?
Then take it one step further…
Imagine what your business would be like once you reach your goal. Would you have more employees or an office manager? Would you develop new products or services? Would you have a bigger office or more time off? What would you do with the extra cash?
Whatever the end result would be, try to imagine every possible detail.
Good so far? You’re half-way there.
So, here comes the most important, part…
Write down what you want.
And don’t just nod your head and say you will (which is what far too many—generally unsuccessful—people do). Grab a pen and a piece of paper right now!
You don’t have to include all the details here as long as they are in your head. Just write a simple, one-line statement like, “I want to develop a steady stream of 30 sales per week through referrals, a newsletter and my Website so that I can make $3000 per week.”
That’s it. Easy as pie.
Now start listing all the ways you can think of to turn that goal into your reality. This is the basis of a good plan.
Best of all, just doing this simple exercise is often enough to make things start to happen. Because now you can make all your business, sales and marketing decisions with your goal firmly in your mind.
In other words, whenever you have to make a business decision, you can (and should) ask yourself, “Does this take me one step closer to my goal, or one step further away?” If it takes you one step closer, then chances are it is the “right thing” to do.
Learn more about the author, Stacy Karacostas.
Comment on this article
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Posted by Ruth Hartmann, Seattle, Washington |
Nov 13, 2008 Hi Stacy,
Great article! Summarizing our plan in one sentence with a specific weekly sales goal and our path for achieving said goal. Having this type of clarity, makes it a lot easier to take action on a day to day basis.
“I want to develop a steady stream of 30 sales per week through referrals, a newsletter and my Website so that I can make $3000 per week.”
Cheers, Ruth
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Posted by Stacy Karacostas, Seattle, Washington |
Nov 13, 2008 Love it Ruth! So glad I could help. Burke, thanks for the ugly factoid. People avoid planning like the plague, but I always say "If you don't know where you're going, or how you're going to get there, there's no telling where you might end up!"
Thanks for the comments! Stacy
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Posted by Jack Duncan, Lakeland, Florida |
Sep 30, 2009 Stacy, you are right! It's amazing that the people who wouldn't go on vacation without a road map (or GPS), hotel reservations and a written itinerary (not to mention knowing how much its going to cost) will try to run their business without a business or marketing plan. Even small businesses with a business plan frequently keep it in a drawer and don't use it to make good business decisions. Having goals without an plan to achieve them is a recipe for frustration. Not following your plan and making adjustments usually leads to wasting precious resources. Not healthy for a business these days. Your article reminded me to review my goals, take a look at my current position and evaluate my plans. Thanks for your help!
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Posted by Stacy Karacostas, Seattle, Washington |
Sep 30, 2009 Hi Jack, Thanks so much for your on-target comments! I'm so glad I could inspire you to review your plans and make sure your business and marketing are still on course. Best, Stacy




