Is Writing A Business Plan A Waste of Time?

In just a few days, on Saturday, October 22, SCORE Ventura presents a "how to" workshop titled  

"Build A Better Business Plan"  

at the Greater Conejo Valley Chamber of Commerce, 600 Hampshire Road, Suite 200, Westlake Village, CA, 8:30 a.m. to 3:00 p.m.

If you are unfamiliar with SCORE, it is a national organization of more than 300 local Chapters driven by a network of retired business executives from across the Unites State's broad fabric of industry types. They meet one-on-one, typically at Chambers of Commerce offices, with both aspiring business owners and individuals already in business who are seeking to further develop or change their business in some way. The one-on-one services are at no charge. There is a small fee for the workshops where SCORE experts dig deeper into specific subject matter providing more "how-to" and "hands-on" guidance.

With my passion for Small Business and some skill in Internet marketing, I agreed to help get the word out via the Internet about this and other SCORE workshops in its on-going series.

But first, . . .I had to ask a few basic questions such as. . .

Why would/should someone come to this workshop which is about business plans (not the sexiest of topics really). Who are we talking to and what should we be saying to compel them to show-up?

First off, it can safely be considered that we must be speaking to individuals interested in starting, growing or changing a business in some manner. But a business plan. . .do they really need one?  I asked our SCORE Experts. They quickly responded with a resounding "yes!".

Here's what they say. . .

"A business plan forces you to think out all the facets of your business. It gives you the tools to evaluate how you are doing and is a must to acquire financing. Learn how to set up your business goals, analyze your market, and forecast your earnings. During

this session you will actually start or update your existing business plan. Workbook provided.

Additionally, a Business Plan will help you achieve greater success and profits from your business -- where you run it rather than being a captive to your business -- by having you identify your real goals for income, and then getting you to lay out all the costs and efforts needed to get there. Creating your own personalized Business Plan will help you think through the key aspects of your business -- how you will market, what your costs will be, who and what will be needed for you to achieve your goals -- before you go rushing without realizing what you're up against. An effective Business Plan will help you capitalize on the strengths you have and compensate or accommodate for your weaknesses, while helping uncover significant opportunities and threats you may not have considered.

You wouldn't leave home on a road trip without a map. Why would you run a business without a map, when it's so much easier to achieve your goals by planning out all the elements and resources in advance?. . .(long-time Sales/Marketing/Advertising Executive, James Bond)

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In building a plan, it is a good idea to "build and test-drive" your ideas with experience SCORE professionals before launching into business. This way, you get to refine the focus points and overall strategies. . .Financial Executive, Rick Andrade

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A business plan is important because:
1.  It is your calling card.
2.  It helps you get funding.
3.  It serves as a management tool for your business.
4.  It serves as a compass for the direction your business will take in the future.
5.  It helps you achieve the things that you want to achieve.
6.  It is your mission, your guiding light!   (Human Resources Compliance Consultant, Pat Douglas)

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A business plan is a road map to follow and a foundation to build a business on.

Without it, the owner has no organizational structure. . .(CEO/Business Consultant, David H. Sussman)

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 A business plan serves as a constant reminder to pay attention and review all aspects of your business on a regular basis, (monthly,quarterly). . .(long-time top Business Executive, Barry Kraus)

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Business plans can be for any period of time – months or years.  They provide a benchmark of where you should be financially. . .showing whether what you've planned is happening.  If not (you could be losing money versus making a profit). . .It forces the planner to make necessary changes or face going out of business; having to write off the investment.. . .(long-time Business Executive Joe Krupansky)

Please feel free to add your own answer or comment on the question - why is a business plan important when starting, growing or changing a business?



Click link to learn more and sign-up for this and other workshops 
http://ventura.score.org/


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