Your Business Plan Doesn't Mean Sh*t Anymore
What is the point of making a business plan? There are way too many external factors that change on a daily basis to withstand a rigid business plan. Entrepreneurs flourish from inventiveness and creativity, which is the complete opposite of what a business plan stands for.
Business models create an inflexible vision of the direction in which a company should head toward. This places restraints on the ingenuity of these people's goals and ideas. Small businesses need a wide range of flexibility in order to become successful. Isn't that the point of startups, to go somewhere no company has gone before? How are you able to do that if you are limited by a plan?
“Success is not final, failure is not fatal: it is the courage to continue that counts.”
One major aspect of a business plan is the financial projections. How can you figure out the financial projections of a company that has yet to be created? You can't. It's all trial and error — that is both the beauty and the downfall of startups.
If you are sticking to a plan and are not willing to steer away from it at times, aren't you just limiting yourself? Business plans are intrinsically limiting in this aspect, for this reason alone. The best thing to do is to create a wide concept of what you want your business to entail. Look at the demographic that you want to reach and figure out the best medium to reach them through.
“If I told you I've worked hard to get where I'm at, I'd be lying, because I have no idea where I am right now.”
There is a huge difference between planning, strategizing and implementation. When you decide to create a start-up business, you already have an idea in mind and that idea is enough to get you going. Startups are a time to be creative, try several different strategies that you and your team think could benefit your company. Do not stick to one solid idea, try many different options and see which works best for you; it is all about trial and error.
There is no guaranteed future for startups, regardless if you create a business plan or not. The harsh reality is that you cannot predict the future. You can try all you want, but there are too many uncertainties surrounding this sector to have a set plan. There is always change occurring that will outgrow any plan you set out to create. In all honestly, these plans are a complete waste of valuable time, energy and resources. Your time is much better spent working on the business itself rather than its plan. Spend all of your time on actions, not written work.
“It had long since come to my attention that people of accomplishment rarely sat back and let things happen to them. They went out and happened to things.”
There is no assurance that a business plan will lead to success. Stop wasting time creating a plan and go out there and make your “plan” a reality. Try different strategies and adjust accordingly with how they function in the real world. You will always learn more from actually doing rather than planning.
You cannot rely on a plan to garner success; only your actions can take you there. This will only take away from your focus at the task at hand. Your time should be spent on actually building the business, making money and lucratively managing it.
Subscribe to Elite Daily's official newsletter, The Edge, for more stories you don't want to miss.