This post will be short in keeping with its theme.
Business plans are a great idea, I would say an essential item; however, they are misunderstood and underused; often ignored. When I was working in the Friendly Society sector in the early 2,000s some of those organisations were archaic and I used to give talks about modernising, including having a business plan. I would start off with a preamble then bring out a document from under the lectern and blow the dust off it (I had covered it with fine talcum powder). That always got a laugh and lots of nods when I explained that most business plans sat on the shelf and gathered dust. It’s not surprising; most business plans are not fit for purpose, being weighty tomes full of words often cobbled together using a totally inappropriate template. Most people, including template producers, think ‘the more the better’. NO! Less is more.
I am a big fan of seeing everything on one page. The Business Model Canvas allows you to do this – templates can be downloaded for free under a Creative Commons license from Strategyzer AG. You can use it to have discussions about important elements of the business and work out a plan of action. Now there is a key word – action. Business plans should be living documents that are regularly consulted and updated. Those big static documents are for the bank when you want a loan and nothing to do with running a business.
Honesty Box
The seed of an idea for these business blogs has to grow and I nurture it until it is ready to harvest, then I prepare it so you can digest it. If you found the content useful please consider popping some money into the honesty box. Unlike buying eggs at the farm gate, you cannot put the cash in a box because you are reading this online. You can click on the Buy Me a Coffee link below which will take you to a page where by magic (nifty software) a small amount of money will disappear from your account and appear in mine. Don’t worry you are in control all the time. If the post wasn’t helpful, please leave a comment suggesting how it can be improved.
If you like what I say you can buy me a coffee if you want to. Pay for two and I can have cake as well.
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Business Thoughts 