Don’t Plan to Fail

Too many new consultants fail to establish a sound business plan right up front. They know it’s not smart but they do it anyway. My gut is that it’s because it’s just too damn annoying and time-consuming to work out such minute details and track them.

And that’s the rub, managing to create a very solid business plan that actually delivers value, but not spending months doing it.

A good plan is a process, not a static event. One of the biggest mistakes any business owner makes is to create a strategic business plan in the beginning of their company, then leave it in a drawer forgotten and useless. A good plan is dynamic, meaning it is built to be changed or modified as the business grows. Its structure is one that is flexible, and to me the most important part is that such flexibility is quick and painless as if it sucks to change it, it usually doesn’t get changed.

For years now I’ve personally benefited from being able to develop a very strong business plan for my own businesses, but not having to invest countless hours to get it done. I’ve done that by using the “One-Page Business Plan”, based on a book of the same name written by Jim Horan. Since the two most important parts of such a plan are content and speed, this has been my solution of choice. I have no relationship with Jim or his business by the way. I just recommend what I think works.

If you’re an expert in building business plans, and that’s one of the things you will be providing to your consulting clients, than by all means listen to your own expertise. However, if this isn’t something you’re an expert in, I highly recommend you not spend hours researching, learning and inventing your own wheel. Instead just invest $39.00 and purchase the One-Page Business Plan (Professional Consultant’s Edition) from their website.

That website:

Once you get a plan – wherever you get it – just be sure to use and follow it, as it is definitely something that will greatly add to your chances of success!

Do you use a formal business plan and if so how often do you use it?

About Jay Niblick

Jay Niblick is principal and co-founder of Innermetrix and best selling author of What's Your Genius and The Profitable Consultant. Learn more about Jay Niblick here and connect via Twitter, Facebook, Google+ and LinkedIn.