I was cruising to my grandson’s Lacrosse game and listening to talk radio. The show was hosted by a financial consultant and he was talking about young people who graduate from prestigious schools with prestigious degrees and have no plan and no job. He then quoted research that stated that only 2% of MBA graduates have a plan for the future. That is a staggering statistic. I find that more often than not when I work with organizations, no plan is in place.
Do you have a plan for your business? Do you take time to plan? If you have a plan, do you have a plan to implement that plan? Or, are you just wishing and hoping?
When I begin to coach a new client, I ask where do you want to be in 3, 6 and 12 months. Many times they never thought to plan even in a short term.
Here are my 7 easy steps to begin a business plan:
1. Ask yourself where you want to be in 3-6-12 and 24 months (goals)
2. Write an executive summary (describe you biz, who are you and what do you do)
3. Think about your position in the community (Position yourself for a share of the market)
4. Design an outline with benchmarks (a sliding scale of accomplishments)
5. Look at the strengths and weaknesses of your competition (build on that)
6. Describe Inside Operations - how will your company function day to day
7. Design a budget including income and expenses
I like to use the word “action plan” instead of plan. Put this document into action, make it a living document, visit it once a month, change your course when things go wrong (and they will).
To degree or not to degree is not the question, with or without the degree, without a plan you have no idea where you are going! Think about his, “Never look back unless you are planning to go that way.” Henry David Thoreau, “Unless commitment is made, there are only promises and hopes; but no plans.” ― Peter F. Drucker
Carol serves as a featured writer for the Home News and the Lehigh Valley Chamber Blog.
Carol is an accomplished professional speaker, coach and educational consultant specializing in innovative leadership, outrageous fundraising, million dollar marketing, and building organizational alliances throughout the country. Carol’s creative leadership with bullet proof ideas for recruiting MORE MEMBERS, MORE MONEY AND TER LEADERS. www.caroltalks.com 610-442-4545 firstname.lastname@example.org. Like me on Facebook at Caroltalks and CarolCoaches! Carol S. Ritter, Immediate Past President, National Speakers Association Philadelphia