For the 60 percent of business owners who don’t currently have a business plan, the line ‘if you leave something in your tray long enough it will disappear’ could be the truth. When it comes to developing a business plan these days the old SWOT analysis as we once knew it seems irrelevant.
Sure all business owners need to plot how they’re going to achieve success, but by the time you’ve worked out what the strengths, threats, weaknesses and opportunities are in relation to your business, the goal posts have completely changed.
How business is done has completely changed over the last decade. Who would have ever thought a few years ago that within a matter of hours the entire reputation of your business could be in ruins just by someone bad mouthing your business name on a social media site such as Twitter or Facebook? Or that a thriving business empire could be built on the back of a 20 second utube video clip?
Mind you, if you have to borrow capital from a bank for your business, the same old fashioned dinosaur ‘bottom line’ focused business plan relating to size, turnover and profit is still required. But for most entrepreneurs these days planning a successful business is designed with a more well rounded approach including lifestyle, giving back and achieving personal and professional goals as well as profit. The planning for this style of visionary business needs a rethink of how business plans take shape.
So don’t get too hung up about not having a traditional business plan. As long as you have a vision and it is down on paper you are more than likely on the right path that will lead you to success. Have a think about it – how many owners of traditional business plans revisit them on a daily basis?
From my point of view there’s a lot to be said for having your top 10 business goals for this month written in lipstick on your bathroom mirror. It’s in your face and it will go a long way to shaping your attitude and mind-set to how you approach the working day.
Lynette Palmen, Founder and Managing Director ,Women’s Network Australia. The nation’s leading network for business and professional women.www.womensnetwork.com.au
Contributed by
Lynette Palmen.
Lynette Palmen AM is the Founder and Managing Director or Women's Network Australia. She started WNA 19 years ago to offer support, inspiration and services that would inspire women to succeed in their career and business endeavours. WNA is now the Nation's premier networking organisation for business and professional women. T: 1800 052 476.
Thank you, I agree completely and without my whiteboard and mirror I have no plan. When they are out and up it is so easy to see what is important and to just burn through the tasks at hand.
My other favourite is post-it notes to project plan – each step goes on a post-it so they can be easily moved around and played with at will!
July 16th, 2009 at 12:45 pm
Thank you, I agree completely and without my whiteboard and mirror I have no plan. When they are out and up it is so easy to see what is important and to just burn through the tasks at hand.
My other favourite is post-it notes to project plan – each step goes on a post-it so they can be easily moved around and played with at will!