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A Good Business Plan is for Life

Terry Lane - Wednesday 22.04.09, 15:50pm

The dream of becoming self-employed or the boss of your own small business can leave the entrepreneur in us all not always addressing the issues that a well written business plan should.

The problem I found is that my several years of experience gave me the confidence to know I could deliver the services I offered, and my general ability to ‘get the job done’ assured me I could manage my own time.  But what I didn’t cater for is my lack of experience and knowledge of how to run small business and to use my business plan as a guide and management tool.

I pretty much learnt the hard way, and spent more time and energy on writing and rewriting my business plan than I had intended. Seeking expert advice would have allowed for me to have a well-oiled business plan in much less time.

In the current economic climate, though there have been UK Government statements to the contrary, the majority of banks and investors are still more reluctant to lend money to small businesses than they were 24 months ago.  So if you are looking to setup a new company or your business needs to move to the next level of growth, then I recommend getting professional advice to help with your business plan.

There are hundreds of companies offering help to UK businesses right now, and you will be able to get a good price for a quality service.  Remember, they’re in a recession too!

What you require is a custom business plan written by or with business experts who understand your individual requirements.

You may consider writing a good business plan is something you can undertake yourself, and you may be right.  But in business, time is money; and in many cases the cost of employing someone else’s time works out cheaper when you take into consideration your own hourly rate.  Something many self-employed business people tend not to do!

Writing a good business plan, one that is written in such a way to appeal to investors and banks, as much as be a monthly guide for you to follow, is a specialist area.  But remember, a good business plan is for life.   Once you have a business plan for the next 12 months or so, you need to continually update it.  So many small businesses start in business with a well thought out, well written business plan for the next 12 – 36 months, only to find they haven’t considered it to be a rolling business plan.  And when they reach the end of their initial business plan they are faced with a blank page!

So, consider your business plan to be a plan for life and if you’re serious about generating online business success, consult with business plan experts and use their time to allow you to concentrate on the business success.

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