Why is a business plan important?
Many people long for the American dream of financial independence and business ownership. One of the first steps to the achievement of any goal is a well thought out plan. To start a business you definitely need a road map to make the journey more effective. With the economy and world changing everyday; a business plan helps to anticipate the effects of many of these changes. Have you ever written a business plan? If not, what is holding you back?
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I believe a business plan is a requirement for any business that hopes to be successful. A business plan is the who, what, why, how and where of a business. Who: the purpose of your company. What: the company's products and services.
Why: the company's objectives and goals and mission statement.
How: marketing and financial plan
Where: business requirements and plans for growth
Preparing a business plan not only provides direction for the potential owner..however, it also enhances opportunities for success.
For an entrepreneur without previous business experience, a business plan is essential to have a path to follow. I took a 10 week business class last fall on writing a business plan. It was overwhelming; but now I am reviewing my notes, my class book, and my previous business plan, and it is actually beginning to make sense! However, I need constant support and guidance because I feel a lot of fear about pursuing this endeavor, even though I am aware of my talents and about the services I offer.
Like the teacher said in class, "we can't do it alone." And I believe that we are not supposed to do it alone. There is a lot of women power in our class (OK, testosterone to, guys.)
Buena suerte!
Today I met with a woman whom I had asked to be my mentor. It was great! And it did not have anything to do with the half margarita that I drank while chatting. I spoke to her about my fears, my new understanding of my business, and about how we both perceive that mentor/mentee relationship. She brought 3 business articles for me to read and I am making copies for all of us. She is actually the Vice President of the factory where I was teaching ESL to employees. I have seen her interact with her staff during these past 4 months and I was very impressed. I encourage everybody to get a mentor. In my case, I need the constant kick in the derriere to compensate for the fear, but keep in mind that this is a reciprocal relationship where both parties learn and grow through their interaction with the other.
I will see you on Thursday!
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