Business Consultant Business Plan: Leave the Holes

Today we are going to talk about your business consultant business plan and I am going to challenge you to leave the hole. Let me explain what I mean. As consultants we do a lot of thinking. Our job is to think on behalf of our clients, but when it comes to our own business we think too much. Whether you are creating your first business plan or fifth generation new growth plan, I am going to challenge you to leave the hole. Don’t try to think through all the iterations before you actually roll the plan out. Don’t try to come up with every contingency, every plan A, B, C, D, E, F and G. Do your best to come up with sharp thinking, trust your thinking, and then roll the plan.

Old Mindset: Holes are bad and you must fill them. The old mindset that most of us have is that holes are bad and you must fix them. There is a fear that comes along with holes. We don’t want anybody to assume we haven’t thought our plan all the way through; we don’t want the public embarrassment. However, one thing about holes is that holes don’t make mistakes. If you allow your fear of failure to drive you, you will rush to create a new process to solve for a problem that may not exist at all. That rushed process can create plenty of mistakes. But if you have the courage to leave the hole then no new problems will arise. You can manage the situation with more patience and savvy.

Also, consider that a hole is a legitimate data point. Customer complaints are data. Lost revenue is data. Low employee morale is data. Even if you get a zero as the specific output, that is a data point as well. The holes you find are prompts to ask great questions. Think about how the work is supposed to be done. If you realize a hole, this is an opportunity to brainstorm around how the hole got there and solve for the root cause.

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Business Planning in Relation to Business Growth and Management

For any company to succeed it is imperative to do business planning. The reason I am stating this is because most small business owners do not have a written plan. A company that has a plan has better chances of surviving than one that does not. A business plan should include a mission statement and a description of the business values.

Before starting a company include in your business planning an issue like market analysis to know the current trends and draw a marketing plan on how you intend to reach your target market. Choose the marketing tools you intend to use and be flexible in case you need a new approach. Also, have a financial projection to ensure a steady cash flow.

Put in place sound management structures to make sure there is smooth business operation. As you prepare, include structures that will enable your staff to be innovative and come up with new business ideas, this will encourage business growth. Rather than viewing creativity as a time consuming venture, device ways of assessing and implementing good business ideas.

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Writing a Business Plan – 5 Reasons Why You Should Write a Business Plan

If you are in the process of starting a business or considering expanding an existing business, most advisors, and books written on the subject, say you must have a Business Plan. You may be doubtful given that it means you need to take precious time out of your busy schedule to put your plans on paper.

But do you really need a Business Plan?

A survey carried out on 400 UK entrepreneurs by SimplyBusiness revealed that 54% of business owners don’t have a Business Plan. Shocked? I was. Based on my experience when dealing with both start ups and seasoned business owners I thought the figure was on the low side! Only 54%?? Come on. I can count on one hand the number of business owners who have a Business Plan.

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