Your Business Plan is Your Company’s GPS System

If you have ever driven without a paper map and relied completely on the internal satellite and voice commands of a GPS, then you understand how critical it is to have a plan.

You might still be wandering around or lost if you didn’t have the instructions!

So if you have been avoiding writing a plan (thinking it will take too long) or revising your first business plan, rethink it and consider the business plan as your company’s GPS

The plan is really a tool used to guide you in your daily operations and will help you keep your eye on your long term destination.  (Having used to GPS to drive from New York to New Orleans I can attest a GPS can go a long way!)  And if you happen to hit a pocket of traffic, you can use the plan the same way you readjust on your GPS and find an alternate route. Plus it never hurts to have everything in writing if you want to seek funding.

Perhaps you want to launch a new product.  Spend some time identifying competitors and costs to build the product.  On a daily basis, you can monitor your competitors online and through social media to see where their ongoing strengths and weaknesses are.    As well, you’ll have a benchmark price in mind when you need to negotiate with vendors for inventory.

Use the business to guide your daily, quarterly and annual operations.  By spending some time planning on the front end, you’ll gain time in the long term and guarantee that you’ll be much closer to hitting your sales goals at the end of the year!

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