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Are you taking your business down the right path? How do you know?
I’m Denise O’Berry and you’re watching the little big show – your place for bite
sized tips that can have a big impact on your bottom line.
Are you -- like 70% of small business owners -- working without a plan?
It’s tough to grow a business if you don’t know where you’re headed.
Many small business owners don’t think they need a plan because their not seeking funding.
But that’s just dead wrong! Here are three myths that need to be dispelled
about strategic planning for small business. Number 1. It has to be formal -- Not so. The
value of a strategic plan for your small business is in putting the ideas down on paper, then
creating action steps that will get you where you want to go.
Number 2. I'm too small to create a plan -- Not so. Even a one-person business can benefit
from a strategic plan. A strategic plan can help you make good business decisions so that
you ultimately reach the goals that you're seeking. It can help you with time management
and budget and making decisions about what things to invest in, what classes to take,
who to joint venture with - just a miriad of things that can help you grow your business
so that you can have it be the business you want it to be.
It's a really good check and balance tool. Number 3. A strategic plan is like a ball
and chain -- Not so. It's your plan. You can do with it what you want. So many small business
owners feel like once it's on paper, it can't be changed. What a bunch of baloney! That's
just wrong. It's your plan. You can do with it what you want.
Your plan should be an active document that gets reviewed on a regular basis. At the minimum,
every month. Your business will be more successful if you take the time to captures your hopes
and dreams in concrete terms. Your plan doesn’t need to be some fancy
document. It needs to be in a format that you will use. That's the key.
Now it’s your turn. What do you do to plan your business future? Do you have a tip you
can share or help you can offer? Please tell us about it in the comments below.
If you liked this this video, please make sure you hit that like button and subscribe
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And if you’d like more great tips and resources, head on over to deniseoberry.com and sign
up for email list. You’ll be glad you did. Thank you so much for watching! See you next
week. Okay, so me to a small business owner. "How
much time did you spend planning your next vacation?"
"Oh, I spent about two or three months. It was a really important vacation."
"I see. Alright, so how much time do you spend planning your business?"
"Plan my business! That's crazy to have a plan for my business."
"Arrrgh!"