“A trip to Hawaii would be a vacation of a lifetime. Maybe I’ll just get on a plane destined for Hawaii today and see what I can do there,” – said no one ever. If you go on an exciting trip like that, you would want to have every detail outlined in itinerary to make the most of your investment and time. You also might want to know the answers to the following questions: What time is my flight? Where am I going to stay? What am I going to wear? What sights will I go see?
It is unfortunate that many small businesses start their businesses this way. They begin their exciting business journey without identifying their purpose, goals, and objectives. These items and more should be outlined in a business plan. A business plan establishes a map for your company’s future. Without this guide it will be more difficult to measure progress, and your business may drift away from the originally intended goals.
If you did not look after today’s business then you might as well forget about tomorrow.
– Isaac Mophatlane
It is important to set aside time to analyze your business concepts to see if they are marketable, and would be a sound investment of your time and money. Wonderful ideas might float around in your head, but they need to be lassoed like a wild horse to keep them under control, and validate they flow with your business plan. Perhaps your small business may be in the same situation? It may be helpful to find a consultant or business mentor that can review your business model.