Few business people would argue that a business plan is an essential element of success. Too large a number of businesses however do not commit a plan to writing and fewer still refer to it regularly in the management of their business. Why is this?
Many believe a written plan is too time consuming and really just an exercise perhaps required by their lender.
Some believe that they have a plan in their head and it is really their entrepreneurial “gut” so to speak that is the only thing that is really required for success.
Others believe their product or service is so unique it will sell itself which a common curse of the gifted technologist.
The facts are:
- Written business plans can be simple documents and the key operating metrics few.
- Plans that remain unwritten in an entrepreneurs head can be easily and regularly modified making results totally unpredictable and eliminating real accountability.
- Developing the latest greatest piece of technology or software is no guarantee of business success and gifted technologists take a real risk of being blinded by their creation and not fully understanding the business and marketing challenges they face.
The Barnett Consulting Group understands all the challenges to developing and managing to a written business plan and can help implement this business discipline with minimal pain and disturbance to the day to day business.