The Australian Small Business Blog

Monday, April 25, 2011

Business Plans - Essential or Useless?


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General Eisenhower once said: "Plans are useless but planning is essential".
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Dr Greg Chapman is the Director of Empower Business Solutions and The Australian Business Coaching Club and is Australia's Leading Advisor on Emerging Businesses and provides Coaching and Consulting advice to Australian Small Business Owners in Marketing & Business Strategies Planning & Systems. He is also the author of The Five Pillars of Guaranteed Business Success and Price: How You Can Charge More Without Losing Sales.

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The Australian Small Business Blog

4 comments :

Arthur said...

Hi Greg,

Business Plans are Essential.

Business Plans are a formal documentation of the planning process.

Whilst some Owners will claim they have never prepared a Business Plan, you will find that because of their industry experience and ‘Informal’ planning processes, they have in effect completed a great deal of the business planning, but haven’t documented it in a formal Glossy document.

Many Owners have produced thriving businesses on the back of a few scribbles, diagrams and figures on A4 paper, which is their business planning process.

Business Plans are like anything else, the more you do the better and quicker you get at them. You find out what works and what is necessary.

No one said that business plans need to be long, complicated and boring documents.
It should really be a simple, fun and exploratory exercise, shedding new light and discovering new horizons.

Business Plans can be a good way of getting a group involved, brainstorming and generating new ideas or even reaffirming important aspect such as market size.

Do you need a Business Plan?

If I was a General Going to War or an Owner starting a business with considerable monies on the line I know what I would be doing.

Ella said...

Business plans are definitely essential. According to website blog Bizology (http://www.bizology.biz) businesses are much more likely to survive those first 5 crucial start-up years with a business plan.

It helps in determining where capital will go, and where the owners will go with their businesses too. I can't fathom owners going ahead without one.

Nice article Greg.

Marc said...

Creating a solid business plan is very essential to attain business goals. I think it would also help to seek small business marketing consulting to get business advices and to maximize profit and revenue.

Chris said...

As we all know, business plans determine the path of a company. Thus, it is so important to create a good plan before starting a business.

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