Comments on: I Hate Business Plans

By: Adil113

Adil113 — Fri, 25 Sep 2009 08:44:35 +0000

Hi,

Yes today most of the businesses failed, because no one gave importance to learning; only having a good idea is not always enough. Learning is the everlasting process.

I totally agree with you, it is not necessary if you have a solid idea then you will succeed. There are so many things you have to look when you are starting any new venture, just having an good idea is not enough, you need to have knowledge and strategies and proper strategy execution is far important then just having a strategy under your belt, and most crucial part is you have to craft yourself according to the needs of the market and without learning its not possible.
I personally like your post; you have shared good insights and experiences. Keep it up.

By: Frank

Frank — Tue, 29 Jul 2008 18:53:11 +0000

I can understand the idea of hating business plans but love business planning. Business plans need to be only as detailed as the purpose to which it placed. If you are raising capital (debt or equity) you will need a formal business plan. If you do not like to them, then hire someone to do it for you. For internal purposes, a “bullet-level” business plan for each of the major sections (marketing, operations, management, financial assumptions) and financial analysis is all that is needed. I use a business plan in my business because I use it as a to do list that helps me stay connected to goals.

What do you really need to know from a business plan? I need to know right now what I need to do now, to make my business succeed. Because all you ever have is now. Perhaps planning is the best use of now.

Frank Dobner
http://www.thestartupsource.com

By: Angie A. Swartz, Six Figure Moms Club

Angie A. Swartz, Six Figure Moms Club — Sun, 27 Jul 2008 16:11:54 +0000

A favorite client quote, “Angie, the best coaching advice you ever gave me was, “If writing a business plan isn’t your thing, then don’t write one”. This client was banging his head against the wall because he had a block about the writing not the plan. He was intimidated by the process of sitting down at this desk and writing. I suggested he buy a voice recorder and go to the beach and talk about his vision. It worked well for him and he was able to move his business forward. This book will be freeing to many folks that have the same issues with business planning. I work with a lot of business owners and executives and often see clients cringe when I mention business plans. There’s just something about those words that seem to instantly increase their stress levels. Clients move to thinking allnighters, pulling my hair out, wasting time when I could be working, things change anyway so why bother, I don’t have time for that, et al. These same clients who can’t focus on their business plans continue to wonder why they can’t seem to get clarity on their business and why they can’t get sales to the next level. Thanks for giving them another option and thanks for giving me another tool!

By: Paul Simister

Paul Simister — Sat, 19 Jul 2008 07:48:52 +0000

Just to be contrary but also to continue the debate

I love business plans because they provide a record of intention at the time.

So often there is this huge gap between what we say we will do, what we do and what results we get.

A business plan gives you the chance to look back and reflect on why things didn’t go as you expected.

A business plan gives you a chance to learn and adapt your future behaviour.

A business plan stops your mind playing tricks on you as each day your plan evolves and you forget what you thought.

A business plan captures some of those brilliant ideas that you still haven’t put into action so that you can bring them back to the table.

I love business plans, I love business planning…I hate people failing to take purposeful action.

I hate it when people won’t decide on where they want to go and drift aimlessly.

I hate it when people don’t measure and monitor the business.

By: Eugene Chan

Eugene Chan — Fri, 18 Jul 2008 15:20:42 +0000

Hmmmm, good question….I hate it because I don’t think I have time to do it (or do it well), but when I look back afterwards, I realize how important it is.

Business planning is like writing, even if I don’t refer to it again, the act of clarifying makes it stand out stronger in my mind.

By: matsonian

matsonian — Fri, 18 Jul 2008 08:00:36 +0000

I hate business plans… NOT! What I hate is the reality that business plans don’t help you plan your business, they ONLY help you present your business to financiers. If you want a plan that really helps you develop your idea into a successful venture, stay away from Business Plan Pro and try QuickPlanner Plus. It is good to see that Tim Berry is marketing himself well and keeping up with the era of FastCompany planning, but Business Plan Pro was a headache when I tried it four years ago, and it is still a headache now.

By: Stephanie

Stephanie — Thu, 17 Jul 2008 18:42:59 +0000

I hate business plans but I love business planning because it can totally uncover the unlimited potential of where I can take my business.

By: Wendy Blomseth

Wendy Blomseth — Thu, 17 Jul 2008 18:26:12 +0000

I hate business plans but, as someone once said,
“failing to plan, is planning to fail.”