Make Your Business Plan Work For Your Small Business

Large companies do it all the time. The big bosses decide to hire some expensive consultants, spend a week at some 5 star resort and emerge at the end of the week with a new business plan for the corporation. It's usually called something exciting like "New Directions for Success" or "The Strategic Way Forward." They congratulate themselves on a good job and head for the bar. The following weeks will see much activity as the new gospel is passed throughout the company but the enthusiasm soon starts to fade. Within six months, all that remains are a few half baked and disjointed aspects of the plan which now rests, pretty much forgotten at the back of the filing cabinet.

As a small business owner you have a huge advantage over the big boys. You can craft a plan for your small business that is lean mean and effective. Most of all, you can have a plan that becomes a day to day blueprint for the successful running of your business.

Here are 6 practical guidelines that will help you write a dynamic, working business plan for your small business:

1, Have commitment to your plan

If your small business hasn't got a plan then it's got little sense of direction. Would you go on a week's holiday with only a vague notion of heading somewhere warmer and a hope of having a good time? Or would you carefully select your destination, choose suitable accommodation, select your route and decide how you're going to get there? Your small business plan represents your future so give the process of planning the importance it deserves.

2, Planning is not a do it yourself project

Don't come down from the mountain clutching your plan like a prophet. Involve your employees in the planning process from the start. That way you'll create enthusiasm and ownership from them when it comes to putting the plan into action. Your employees will contribute goals and ideas of their own that will ultimately help engage them in making the plan, and your business, a success. Also, think about putting your draft business plan in front of a professional to get some expert third party opinion.

3, Make people accountable

Your small business plan needs to be about action so identify the individuals who are to be held responsible for performing the action points laid down in your small business plan. Consult with your people throughout the process and make sure you get agreement on goals, actions and results.

4, Plot your waypoints

Your business plan will have objectives, goals and targets but what are the waypoints that will signify progress towards them? Have your plan broken down into small, achievable steps. Think Google Maps: all turns and significant waypoints are laid out in detail. Do likewise for your small business plan in order to stay on route.

5, Plot the timeline

Have achievement dates established for all your goals and objectives. All of your employees needs to know the timescales for delivering their individual action steps and goals. And make sure that timescales and achievements are constantly reviewed.

6, Be flexible

The economy and markets change, employees and customers come and go. Today's small businesses operate in a fast moving and dynamic world. Your business plan is an immensely valuable tool but it's not set in concrete. Always review your small business plan and be ready to make changes when needed.

A business plan is vital to the success of your small business but it does take commitment and determination to make it work for you. Always remember that your plan is a daily work tool - don't leave it rusting in the toolbox. Keep your small business plant sharp, well oiled and, above all, use it and it will serve you well.


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Mike Newman is a noted business turnaround expert, entrepreneur and business coach. His wife, Trish is an award winning, international business leader. Together they offer no nonsense, practical advice to small business owners. Their website offers business coaching services, marketing tips, resources and success strategies for small business.