Are You Planning To Succeed?

By Author: Gail Buckley
Total Articles: 1
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Are You Planning to Succeed? by Gail Buckley Okay, so you've got your sights set on starting a business online, you've explored your niche options and you've come up with a nifty idea for the perfect *in demand* product. Now what? Just how do you go about turning your new business idea into reality?  The best way by far is to start with a plan. Few successful ventures or achievements just happen by accident. Yes, dedication and hard work are important in building a business, but if you don't have a plan to guide you, how do you know where all your energies and efforts are taking you?  Heed the lesson of Alice in Wonderland. "Would you tell me, please, which way I ought to go from here?" said Alice.
"That depends a good deal on where you want to get to," said the Cat.
"I don't much care where," said Alice. "Then it doesn't really matter which way you go," said the Cat. Alas, all too many small business owners are a lot like Alice. They are in such a hurry to get started that they don't give much thought to where they are headed. Or they feel they can keep track of everything in their heads without the ...
... need to write it down in plan format. While this may indeed be the case initially, once you're up and running and things aren't going as smoothly as you envisioned, you'll wish you had spent a few extra days back when every decision wasn't costing you. In its most general sense, business planning is all about taking your dreams and turning them into reality. A business plan defines the goals of your business and describes the means you'll use to attain those goals. It's your vision of where you want your business to go and how you're going to get there.  Who Should Create A Business Plan? The short answer: Anyone who plans to be in business for any length of time. The longer answer: You should create a business plan if you're considering any of the following: - You want to start a new business. - Your business has grown. - You want to introduce a new product. - You want to enter a new market. - You want to acquire or partner with another business. Many people think that the only reason to create a business plan is to convince potential lenders to provide financial backing. This view is more than a little short-sighted, however.  If you're just starting out in business, a written business plan can help you organize all the pieces that will have to come together to make your business a success. A business hoping to expand its operations in some way can achieve the same benefits. A well-established business trying to grow out of a business-as- usual rut can use a plan as a modeling tool to assess risks and examine various marketing options before committing to one. Formulating a written plan will force you think about where you want your business to go and how you're going to get there. It will become, in effect, a roadmap for you to follow as your business grows and develops.  Just as it helps to follow a proven guide in getting where you want to go or building a home the way you want it built, it's important to follow a written plan to achieve the business goals and objectives you set for yourself.  Beyond this, the planning process forces you to understand more clearly what you want to achieve, and how and when you can do it. It obliges you to take an objective, critical, unemotional look at your entire business proposal.  The structure a written plan provides and the research it requires make it more likely that you will consider all the relevant factors involved in your business concept and that nothing important gets overlooked or left out of your market analysis and strategy.  A business plan can play a vital role in helping you to... - avoid mistakes or recognize hidden opportunities. - be realistic about potential profits and expenses. - focus on the direction in which you want to take your business. - assess your competition so you'll be better able to differentiate your business to attract new customers. No matter how good your business idea is, your analysis of the overall market situation may convince you that you can't profitably pursue your idea right now. It may prove too costly, too competitive or just too chancy.  The more likely outcome of your planning, however, is a business plan that you can use as your guide as you begin or continue to conduct your business.  In addition to bringing sharply into focus and clarifying every aspect of your potential business's development and prospects, the benefits of a written plan include: a) providing a blueprint to help you manage your business operations - a logical framework within which your business can grow and develop. b) providing a benchmark against which actual performance can be measured and reviewed. Since you'll know your break-even points, you'll be able to better judge where you are and be able to adjust operations as needed to achieve your stated goals and objectives. c) providing a vehicle for tracking the progress of your business; a means to measure and monitor your business's performance over time.  d) providing a starting point and a reference point for any and all future planning. e) providing a valuable communication tool. Your completed business plan is an effective means for sharing your ideas and goals with others and may provide the basis for securing financing or other support for your business, as well as for building profitable partnerships. Even if you feel that your business doesn't require a written plan right now, if your goal is to prosper online, a clear plan will eventually become a necessity. Being prepared for such a time is important, since the need for strategic planning will only increase over time.  And think about this - once you've established a documented planning process, you can use it over and over again, improving it each time by incorporating the knowledge and experience you've gained.  Believe me, the small amount of time and effort it takes to create your first plan (especially with the help of "Plan To Succeed") will be more than repaid by the valuable insight you gain. Preparation of a plan may not absolutely guarantee success, but lack of a sound plan will, almost certainly, ensure failure. =============================================== (c) 2002 by Gail Buckley Gail Buckley, author of "Plan To Succeed Online," a brand new, all encompassing online business planning course, offers a FREE,  internet marketing opportunity & resource coordination service at http://www.websuccessmaker.com. Visit this unique entrepreneurial "HUB* site to get up to speed with all the cutting-edge tools,  information & resources you'll need to succeed online.