The Do’s and Don’ts of Owning a Business: The First “ To DO” Have a Business Plan!

So you have been thinking of starting a business or you have one already and things are not going like you thought it would. Do you have a business plan? Having a business plan is really quit essential!

 

When you first thought of starting your own business, you envisioned what you wanted, what you wanted to achieve and why you wanted to do it! So actually in your head you laid out a business plan and with a goal in mind. Did you write it down?
Whether you’re currently are running your business or thinking of starting one, have you need to take the time to put your business plan down on paper! Now if have a home business this really doesn’t need to be so formal. A good place to start is in a note book or a composition journal. My choice a composition journal, because I like journaling, I am a bit old fashion, you can use what you like! It’s the digital era, so put can put it on a word document; whatever just do it! With a brick and mortar type business, I prefer a much more formal written plan, and one updated copy should be kept with your corporate by-laws at all times. With a home business should you corporate, you should do the same!
Now I have to admit that when I started my first business, I never had a real written business plan. Looking back this was a big mistake. Did I have a plan of action? Not really because I was too busy learning the business from the first owner. That was part of the deal, training of one month! I was very scattered, say the lease (More on that later). Having a business plan would have made my life allot easier!
See the problem of not having a written down business plan is like traveling somewhere you have never been before without a road map. You’re going to get lost, and very frustrated! What’s worse you may never find your way back. In business they call that failure! So you say you have your plan all in your head. That’s nice, but you see thoughts come and go, and they don’t always come back in the same order. Not unless you really sit down and prioritize them.  Writing them down in order of importance will help you remember them more clearly!
So speaking from personal experience,  I know I should have written out a business plan. Instead I signed up for the “School of Hard Knocks” Also remember you have to keep updating your plan if you want to grow. A business plan never ends, it “Always” keeps evolving!

 

So if you’re really serious of starting a business or have one already and don’t have a plan…it’s never too late to start one! So “Take action”, so start writing…

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