Coaches Beware: Business Plans Don"t Work... Without a Strong Business Vision
When you start up in business, one of the first things that you "should" do is to write a business plan.
But hands up who has felt dread or even panic at the thought of writing a 20 page document that starts with your mission statement and synopsis, before finishing with detailed cash flow projections for the next 5 years?
And for those of you who have written a business plan, hands up who has filed it nicely in your top drawer of your filing cabinet, never to refer to it again?
Business plans, essential that they are, can just feel too "corporate". When you have decided to work for yourself and set up a business from home, most business plan advice out there can be just too darn complicated.
(The worst business plan advice I ever saw was the recommendation of the number of pages to write. The answer given was between 20 and 30 pages long!!)
Now, I am not for one minute recommending you just go out and start a business on a wing and a prayer - not unless you have money to lose and time to waste. A business plan is essential in making sure you know exactly where you are now, where it is you are heading and how you are going to get there.
Just think of it as a journey planner for your holiday. You wouldn't just turn up at the nearest airport hoping to catch a plane that will get somewhere near the villa that you have booked. You would know exactly which flight you where on, what time you had to check in at and know how you were going to get from the airport to your luxury villa on that private island (OK - let me dream!)
But the problem with business plans is that too many overwhelmed by the process and often are a little daunted by those 20 page templates you can download from the internet.
So, if this is you, don't do a business plan. Spend the time on creating a strong business vision.
A strong business vision is far more valuable to you as a home business owner than a document sitting in your top drawer. A strong business vision will give you the desire, the inspiration and the determination to get you to where you want to be.
How do you create a strong business vision? Here are some simple steps you can take.
1. Describe your ideal working week. If you could wake up on a Monday morning and know that you have the ideal week ahead of you, what would that week look, feel and sound like. Who would you be working with? Where would you be going? What hours would you be working? And the list of questions can go.
2. Where will you be in 12 months time? Following on from this ideal week scenario, write down some of the specifics that relate to your dream. For example: the number of hours you will be working, the number of clients you would be working with, the amount of money/turnover/profit that you will be creating. The more specific you can be with this, the easier it will be to turn these simple thoughts in to goals.
3. Create a SMART goal. OK, goals may sound scary to some of you but they aren't if they are truly of your own making. Goals are simply specific dreams to aim for. And if you can create a SMART goal you will be on your way to creating a strong business vision. (A SMART goal means that the goal is specific, measureable, attainable, realistic and to a timescale.)
4. Make your goal visible. Decide whether you can relate to images, words, numbers or sounds better. Which ever format you prefer, choose this medium to display your goal. For many of you, images and pictures work the best. Most entrepreneurs (yes, I know you think you aren't one, but you are starting up and growing your own business, aren't you?!) are visual people, so think more powerfully in images. Find a photo, magazine picture or lots of images if you prefer that represent your SMART goal and put them up in your office so you can see them everyday.
5. Start to live and breathe your goal. Close your eyes and imagine how it would really feel when you are achieving your goal. What sounds do you hear? What emotions do you feel? The more in tune you are with your goal, the stronger your business vision will be and the more likely you will do whatever it takes to get you there.
6. Not working? Then get the right vision. Some of you out there may go through these steps and not feel the connection, the drive nor the desire to make your business work. You may still feel a lack of confidence or even find yourself making lots of excuses. It's OK, you know. It's only because you haven't given yourself the opportunity to find your real and true vision.
© Karen Skidmore, 2009
But hands up who has felt dread or even panic at the thought of writing a 20 page document that starts with your mission statement and synopsis, before finishing with detailed cash flow projections for the next 5 years?
And for those of you who have written a business plan, hands up who has filed it nicely in your top drawer of your filing cabinet, never to refer to it again?
Business plans, essential that they are, can just feel too "corporate". When you have decided to work for yourself and set up a business from home, most business plan advice out there can be just too darn complicated.
(The worst business plan advice I ever saw was the recommendation of the number of pages to write. The answer given was between 20 and 30 pages long!!)
Now, I am not for one minute recommending you just go out and start a business on a wing and a prayer - not unless you have money to lose and time to waste. A business plan is essential in making sure you know exactly where you are now, where it is you are heading and how you are going to get there.
Just think of it as a journey planner for your holiday. You wouldn't just turn up at the nearest airport hoping to catch a plane that will get somewhere near the villa that you have booked. You would know exactly which flight you where on, what time you had to check in at and know how you were going to get from the airport to your luxury villa on that private island (OK - let me dream!)
But the problem with business plans is that too many overwhelmed by the process and often are a little daunted by those 20 page templates you can download from the internet.
So, if this is you, don't do a business plan. Spend the time on creating a strong business vision.
A strong business vision is far more valuable to you as a home business owner than a document sitting in your top drawer. A strong business vision will give you the desire, the inspiration and the determination to get you to where you want to be.
How do you create a strong business vision? Here are some simple steps you can take.
1. Describe your ideal working week. If you could wake up on a Monday morning and know that you have the ideal week ahead of you, what would that week look, feel and sound like. Who would you be working with? Where would you be going? What hours would you be working? And the list of questions can go.
2. Where will you be in 12 months time? Following on from this ideal week scenario, write down some of the specifics that relate to your dream. For example: the number of hours you will be working, the number of clients you would be working with, the amount of money/turnover/profit that you will be creating. The more specific you can be with this, the easier it will be to turn these simple thoughts in to goals.
3. Create a SMART goal. OK, goals may sound scary to some of you but they aren't if they are truly of your own making. Goals are simply specific dreams to aim for. And if you can create a SMART goal you will be on your way to creating a strong business vision. (A SMART goal means that the goal is specific, measureable, attainable, realistic and to a timescale.)
4. Make your goal visible. Decide whether you can relate to images, words, numbers or sounds better. Which ever format you prefer, choose this medium to display your goal. For many of you, images and pictures work the best. Most entrepreneurs (yes, I know you think you aren't one, but you are starting up and growing your own business, aren't you?!) are visual people, so think more powerfully in images. Find a photo, magazine picture or lots of images if you prefer that represent your SMART goal and put them up in your office so you can see them everyday.
5. Start to live and breathe your goal. Close your eyes and imagine how it would really feel when you are achieving your goal. What sounds do you hear? What emotions do you feel? The more in tune you are with your goal, the stronger your business vision will be and the more likely you will do whatever it takes to get you there.
6. Not working? Then get the right vision. Some of you out there may go through these steps and not feel the connection, the drive nor the desire to make your business work. You may still feel a lack of confidence or even find yourself making lots of excuses. It's OK, you know. It's only because you haven't given yourself the opportunity to find your real and true vision.
© Karen Skidmore, 2009
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