Why Not Having a Business Plan is Like Driving in Circles

I find it amazing that many small businesses do not or have ever had a business plan; to me this is like getting in your car but not knowing how to get where you’re going and just driving in circles.  In order to successfully grow your business, you should have a business plan; quite honestly a business should not open its doors until it has one.  Many small businesses mistakenly think that a business plan has to be elaborate with lots of charts and spreadsheets, and this is not necessarily the case.   A business plan can be a simple two or three page document that simply out lines where you are, where you are going, and how you are going to get there.  Now most businesses do know where they want to go, they just don’t have a plan on how to get there. Think of your company as a car, and think of your business plan as your GPS.  If you take the GPS out of the car, you may have an address, but no idea how to get to it. Continue reading