It’s no secret that businesses which develop a business plan to guide their decisions and actions have a higher success rate than those that ‘wing it’.
But what ingredients do these successful companies include in designing their business plans for long-term success? Surely, more than what the average entrepreneur who outsources writing their business plan to someone else does.
You see, the fatal mistake of the average business owner is that they don’t see WHY business planning is so important. They often just see it as a ticket to getting a business loan. This type of business personal clearly works the business from day to day and month to month, with little foresight into what opportunities and risks face their business and industry.
Visionary entrepreneurs, on the other hand, plan far ahead and in detail. The only risks they take are informed ones. They see more than the dollars and cents, and they understand the mechanisms that make business work for them, their customers and their employees.
I’ve put up an article that details those ingredients. It’s probably the best small business advice one could get about the basics of business planning. Read about it at the below link.