Sunday, September 7, 2014

The Value of a Business Plan

There have been several thoughts and arguments made for the development of business plans, both for and against. You here countless stories that the Steve Jobs of the world didn't sit down and write out a business plan before they created Apple. He just had an idea and a belief, and went for it. I can relate to that notion. Sometimes you just have to go for it. You can plan forever, but nothing happens until you start doing. But I will say that it is a good thing to have a plan while you're on your way to doing. For many entrepreneurs a business isn't just a business, but a dream and goal that they've seen visualized in their heads, and it's also part of the life that they dreamed up for themselves. That's why it's a good idea to have some semblance of an idea of where you're going, and that's where the business plan comes in. One of favorite entrepreneurs and investors, Darren Hardy, put's it like this, "make your business plan fit your life. Not the other way around." All that to say the business and its plan should fit into the ultimate life that you would like to have. Another one of my favorites, Guy Kawasaki, believes that business plans are valuable, but that they should be enchanting and clean.

Darren Hardy is the publisher of Success Magazine and Guy Kawasaki is a former Apple evangelist and current chief evangelist of Canva.