Business Plans For Small Business – 3 Compelling Reasons Why You Must Have One

Business plans for small business people is an interesting phenomenon. Most business owners know they should have one but various research indicates only about 56% of small business enterprises has a current one. This article discusses 3 compelling reasons why you should have one if business success is your prime motivation, which is must be for all of us with our own business.

Read on to uncover the myths of business planning and the easy solutions to create one.

MYTH NUMBER 1: Business Plans for Small Business People Seem Difficult to Construct

After personally completing over 146 business plans for many companies big and small, I have seen the difference it can make in a switched on organization. The most effective plans are those that only take about a day to fully construct. Any more than this the plan is likely to be too long, too complex and harder to implement.

So would you take one day a year or even each quarter to construct a relevant specific plan that will provide motivation to you and your team, strategic direction on what you need to implement, and to give you a much higher percentage chance of attaining business success?

Now there are some great resources and tools on the market that makes creating a new plan such an easy way to go. These are neither expensive nor time consuming so really there is no excuse for not doing one.

MYTH NUMBER 2: Business Plans Implementation is often neglected

Business plans for small business are easy to implement if you look at the following structure. The best way to implement your new plan is to complete a yearly one of only 5-12 pages depending on the complexity of your small business.

Then create a quarterly 90 day plan which is only 2 pages long every quarter. This makes planning a breeze.

The longer yearly plan sets the goals and gives more detail but the shorter plan is just as powerful as it is the action plan needed for implementation.

The best results in implementing strategy is when you look at your 90 day plan of action each week and put time aside of about 3 hours a week to plan and take action.

This means you have a yearly focus broken down to quarters but implementation is done weekly. A sure fire rapid way to achieve maximum business success.

MYTH NUMBER 3: To Start Planning Seems Difficult

Planning is essential for success. Even the statistics shows over 70% of businesses that succeed over a 5 year period have a written plan. Conversely the 80% plus statistic of business failure shows a very low percentage of people in this category have a written plan.

Bottom line: You are absolutely more likely to succeed if you have a current written plan or you are more likely to fail if you have not.

To start planning just look for a business planning template online and get started. These days a better option is to purchase for a very small fee planning software that even has what others in your industry have completed before you. This makes it extremely easy to plan successfully as you use the example for a guideline and change it to suit your individual circumstances.

Business plans for small business are easy to implement if you use the right tools, cheap to construct and a vital skill for you to reach the heights of success you deserve. If the fruits of your labour are currently now what you desire, then I commend you for completing a powerful business plan of action so you can rightly reap the rewards of all of your hard work.