Self-Written Business Plans Are Best For Managing

Published: Jun 14, 2005

Application

Many business plans are written for acquiring funds from investors or lenders. For these, the business plans are often tossed aside once the funding has been secured. What a waste!

You get a greater return on the amount of time, energy and sunk costs invested on a business plan when the plan is used in operating the business. The return is directly related to the business plan's inclusion in strategy revisions, setting of objectives, financial and production controls, operation procedures and all other aspects of the enterprise.

A business plan written by the owner/manager(s) is more likely to be used as an operational document for several reasons.

The manager's confidence is bolstered by using the business plan as a meaningful resource.
The manager fully understands the plan and accepts it's conditions and directions.
The manager has a tool for maintaining a focus on the vision and goals.
A functional business plan serves as a base for review and revisions.
A business plan is a quick reference for meetings, training and promotional initiatives.
An accepted business plan is like following a coach's instructions.
It's far better to follow a template when you are the creator.

A self-written business plan is a better fallback alternative if the funding is not received.

Stories

Stories from members will add great value to these maxims.

Please post your story by emailing it to max@unclemaxsays.com.

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Outcomes

A more knowledgeable manager.
A clear path to follow.

Self-Written Business Plans Are Best For Managing

Application

Stories

Outcomes

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