Devising Business Plans: Staying on Track

Every business must have its own business plan if it is to succeed. If it doesn’t, the business in question will become convoluted and run aimlessly to a point where profit is undetermined because business owners won’t know where they should be. This is why a specific business plan is so important to devise at the onset of starting a business: What do entrepreneurs plan on doing with their business? In which direction is the business intended to go, how and why? What kind of timetable is necessary to meet these and other objectives? All these questions and more should be answerable and answered before anyone plans on starting a business. The more specific the plan, the better.

The business plan is synonymous with a road map. This map illstrates points allong a given route to a set of desired or necessary destinations over a particular period of time.
Time line of the map can ensure that business owners have direction along each step of the way, through each point, until goals and objectives are met.

Sometimes, however, unforeseen circumstances set in and adjustments have to be made to that business plan to prevent the business from crashing. This consideration is is more common to occur than not. In this case, establishing a set of possibly variable points and/or destinations is preferable to having only one to allow for flexibility. When one or more paths become obstructed, the business has another pre-established path to follow to get to other desired or alternate map points and/or destinations. The more flexible the map is, the easier it is to navigate and maneuver. Many business plans are sketched out from six months to over ten years, sometimes twenty or fifty.

Many hazards, such as the tragedy of 9/11, require changing business plans drastically to accommodate loss incurred by the said tragedy. This will likely include the economic aspects of the business as well, not just human resources or physical means. A new starting point and possible path lines must be established, along with viable destinations.

It goes without saying that business plans are likely to be altered during the process. This is because, as businesses grow, perspectives change, as do values and direction. Such a circumstance isn’t only expected, it’s encouraged, because expansion is an important part of company growth necessary to accommodate the inclusion of other things as time goes on. Flexible business plans make this all possible and easy to achieve.

Anyone who is serious about starting a business should have a clear and specific object in mind and a stage-by-stage process regarding how to get there. Further, knowing how to effectively sketch this process out on paper will ensure that the company stays on track from beginning to end.