Bill on "The 3rd Most Common Reason Businesses Fail"

Friends, in a previous post, I posed the question. . .Is taking the time to write a business plan a waste of time? I'd put this question out to the experienced Counselors of SCORE Ventura. As I reported, the respondents came back with a resounding "yes" to taking the time to write a business plan and the answers keep coming in. Here's another from long-time business leader, Bill Gootnick. . .

"Failure to plan is a plan for failure". 

"It is amazing how much control you have when you know what you are going to do in advance"
Lack of control and monitoring of your business is the 3rd most common reason that businesses fail.  You need to have some bench market to compare to see if you are achieving your objectives.  A Business plan gives you that.

"Are you pro active or reactive?"  Do you want to just jump in and see what happens? 

"Why do you have time to do it over, when you should have planned and done it right in the first place".
A business Plan is not just for start up businesses, you should use it as your guide, review it monthly and update it every year.

A business plan will allow you to anticipate what is going to happen and be prepared. 

The written business plan is not as important as the thinking process that you have to do to set your goals and objectives. . .(long-time business leader, Bill Gootnick of SCORE) 

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