Business “Blueprints†For Success
February 9, 2007
Too many times I hear objections when suggesting to fellow contractors that no business should operate without a written business plan. Just as every project has a detailed set of plans that must be followed for the desired outcome, so should your business. Think of the business plan as a blueprint, and use it to plan your path to success.
The best option is to write a formal plan before business begins and update it whenever there are changes. It will help the business stay on course during those times when you are busy dealing with all the common stresses of the construction or remodeling industry such as material schedules, labor issues, and time constraints.
There are outlines of a formal business plan available online that will guide you step by step through turning your ideas into a well written formal plan. A good plan takes time to complete. Don’t feel pressured to sit down and write one start to finish. It isn’t uncommon for a highly defined plan to take weeks even months to complete.
Existing businesses can also benefit from a written plan when seeking financing, expanding, for auditing and quality control. The real value of doing a business plan is not having the finished product in hand; rather, the value lies in the process of research and thinking about your business in a systematic way. The act of planning helps you to think things through thoroughly, to study and research when you are not sure of the facts, and to look at your ideas critically. It takes time, but avoids costly, perhaps disastrous, mistakes later.
Your business plan is the blueprint based on the goals you want to see achieved and how you plan to make them happen. Plan, Implement, Review, and Revise, four simple steps to building and maintaining a solid business. By taking a few moments each day to work on your business, you can control the course the business will follow.
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Great Article, Robin!