If you want to drive from Chicago to Albuquerque, do you just get in a car, start driving, and see what happens? Driving very fast in no particular direction and expecting to arrive sooner or later? Unlucky. If you’re a rational person, you’ll start with a roadmap or GPS, and you’ll probably refer to more than one to compare and consider your options. You will ask people who have made the trip before giving you advice. You will find out how long it will take, what are the waypoints and milestones, which route best suits your purposes. You will make sure your car is in good condition so it doesn’t break down on the road and leave you stuck in the middle of nowhere.
Then you’ll customize your roadmap, marking the cities where you’ll rest and refuel and the junctions to watch out for, and the names and/or numbers of each road and highway you’ll take. You’ll print out that map and keep it by your side throughout the journey, checking it frequently to make sure you’re heading in the right direction. Or you can program your GPS with each important waypoint and keep it in your line of sight at all times to check your progress and mileage.
Trying to run a business without a business plan is as crazy as trying to drive from Chicago to Albuquerque with no map, no directions, and no idea how to get there or how long it will take. In fact, running a business without a plan is even worse: it’s like driving blindfolded! Will kill you. But that’s exactly what most business owners think they can do. And that is one of the main reasons why they end up stuck. They run aimlessly in circles until they run out of time, money, and energy, risking burnout or even bankruptcy.
But YOU are not going to be one of them, because YOU are about to create a bulletproof plan and budget and keep them by your side in the seat the whole time you are behind the wheel.
A business plan not only helps you stay on track, it also helps you prepare for battle. It becomes a kind of summary and basis for the entire business. It describes what the business really is, why you’re doing it, who’s on your team, your strengths and weaknesses, and most importantly, how much you’re aiming to earn and what you’re going to do to get it.
If your business model requires investment capital, you may already have a business plan that you created to show potential investors. If so, ask yourself this question: is it a plan you actually use day to day or something you dreamed up to make the business look good on paper that you haven’t looked at or thought about in the last six months?
If you think you don’t need a plan because your business model is too simple, or because there’s no need for investment capital right now, think again, soldier. Even if you just drove from home to the grocery store, doing it blindfolded would be suicide.
Kick butt, earn money and have fun doing it!
craig zuber
