Feedback Form
Home Features Mastermind Forums About Advertise Blog Network Contact Be An Author

Planning Your Business

Planning Your Business

Planning Your Business
In the beginning, there is an idea. The idea is wrapped around a belief and the belief is a catalyst for taking the first step to becoming a small business owner. You weave in gall, tenacity and an unwavering commitment to taking the idea to full realization and the next thing you know, your boutique in the mall opens its doors, your specialty restaurant has its grand opening or your internet site is launched without the accompanying bells, whistles and bouncing smile faces. You’ve just became a member of a charter group of people who are primarily responsible for keeping the economy functioning.

How did this happen?

Well, if you’re like the many who endured the terrible 1 – 3 year start up scare, you made sure that there was a well-thought out, financially sustainable business plan. As much as personality, charisma and genuine likeability may get you to the table of financial investors, once you’ve gotten past the abstract conversation common to the first few minutes of a business lunch, those who like the idea will want to know how you plan to make it work.

Planning is the rational, tangible component of an untested idea. It also happens to be the one area where most enthusiastic business dreamers commit their most fatal flaw. A business plan does more than just put the idea into words, but it also provides a clear path to putting the idea into motion. As is often mentioned to me, when working at small business seminars, the planning mode is ‘Boring’ and requires the idea person to do more than just talk a good game. I suspect that the gist of the ‘Boring’ indictment has more to with the process of moving from an abstract thought process to a pragmatic one that involves numbers, steps and timetables. Despite the level of discomfort that comes with trying to put ideas into words, the proof of this crucial step can be seen from either side of the car when driving on the I-275 corridor.

Comerica Vice President Small Business North Central Dora Brown says, “Planning and preparation is essential to starting a business since the idea is to try and anticipate the unknown. The business plan lets us know how well the process has been thought out. Have they looked at the best case and worst case scenarios? How well have they researched the industry and its competition? How do you stack up against the competition? How well do you satisfy the five C’s of competition (character, capital, conditions, competition and collateral)?

Planning is a necessary part of idea realization. It is the one aspect of launching a small business that is designed to keep the owner focused and connected to the end result. During those times when the unexpected occurs, the business plan, typically, has built in contingencies for weathering the storm. There are numerous ways to approach the process without it having to feel so burdensome.

• Visit with a small business owner and ask to see their business plan. Most are more than willing to help and do not mind talking about their own ups and downs.

• There are planning templates designed to reduce the time spent in creating a framework for your idea.

• Contact the Michigan Small Business and Technology Center, 313-967-9292 and schedule an appointment. The service is free.

• Enlist the assistance of graduate students at a local business school as part of a class project.

• Work with someone who is the ‘yin’ to your ‘yang’. My business life was always made better by that person who could think in ‘details’ to my ‘painted picture’


Businesses, like plants, do not grow overnight. I recall the insights of a former neighbor who, routinely, was featured in local home and garden magazines for her prize winning colorful floral displays. She said that she always planned two years ahead of what she had currently planted. The secret is in knowing what to do today in order to be ready for tomorrow. She was always fond of saying, “I just work my plan.”

Web sites
http://www.bplans.com/
http://www.sbaonline.sba.gov/starting_business/planning/basic.html
http://www.businesstown.com/planning/creating.asp
http://www.businesstown.com/mindspring/planning/creating-developing.asp





Planning Your Business - To learn more about this author, visit Lee Meadows's Website.

Like this article? Share it with your friends

Article Feedback
 Article Feedback No article feedback found.
  Leave Your Feedback
article feedback

Article Feedback
David Barr
David Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website

Anne Barr
Anne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website

Casey Gollan
Casey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website

Kim Castle
With nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website

Jeff Foster
WebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas.  We specialize in internet consulting & internet marketing
- Visit Jeff Foster's Website

David Acheson
David Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns.  David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website

Leanne Hoagland-Smith
Are your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website

Cheryl Matthynssens

Cheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur.  Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well.  A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles.  She opened up a small affiliate site - The Balance Guide-  to help others find resources for mental and emotional well being.  Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com

- Visit Cheryl Matthynssens's Website


To learn more about the Evan Elite Author Program please contact us.

About The Author


Lee Meadows
(Visit Lee's Website)

Lee Meadows is a Platinum author on EvanCarmichael.com
About The Author

View Author Blog
View Author Blog

View Author Video
View Author Video

Free Downloads


Lee Meadows's

Complete
List Of
Small-Business-Consulting
Articles

Name
Email
If you enjoyed this article, get Lee Meadows's Complete List of Small-Business-Consulting Articles For FREE!

More Lee Meadows
Managing away from core incompetencies
Retaining Your Customers
Leadership that sustains engagement
Bad habits in organizational culture
Generating Ideas
SelfAppointed Subversive Spokesperson SASS
Management 101
Self Awareness
How to Manage Meetings
Leadership Lessons Heard
Free Downloads


 
 
 


Evan Elite Authors
David Acheson  
Stephanie Robey  
George Ludwig  
Evan Elite Authors

Become An Author
Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details.
Become An Author

Evan's Latest Video
Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media
Evan's Latest Video

Business Opportunities
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"

How to Start An Online Business

Click Here To Learn More
Business Opportunities



Evan's Newsletter
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
Name:
Email:
Evan`s Newsletter

Free Downloads
Professional Networking Icon Professional Networking
Million $ Interview Icon Million $ Interview
Business / Personal Plan Icon Business / Personal Plan
Reference Check Form Icon Reference Check Form
Building Business Relationships Icon Building Business Relationships
Free Downloads - Complete List

Entrepreneur Tools and Guides
More PR Resources
More PR Resources
Press Release Builder
 
Top 50 Raising Capital Blogs To Watch In 2008
Top 50 Raising Capital Blogs
Top Blogs To Watch In 2008
 
Entrepreneur Tools and Guides

SEO For Africa
SEO For Africa
Ayetan Teko Anfoin, Togo,
Ayetan Teko
Anfoin, Togo
SEO For Africa

If I Were A Startup...
Jeff Roick, $1.4 to $6.5 Mil in 2 years
Jeff Roick
$1.4 to $6.5 Mil in 2 years
Razor Suleman, $143k to $5.4 Mil in 5 years
Razor Suleman
$143k to $5.4 Mil in 5 years
If I Were A Startup... - Complete List

Famous Entrepreneurs
Jenna Jameson, Club Jenna
Jenna Jameson
Club Jenna
Ted Turner, TBS
Famous Entrepreneurs - Complete List

Entrepreneur Advice
Tom Peters, In Search Of Excellence
Tom Peters
In Search Of Excellence
Jay Conrad Levinson, Guerilla Marketing
Jay Conrad Levinson
Guerilla Marketing
Entrepreneur Advice - Complete List

Popular Articles
(Premium Authors)

     The 3 Big No-No's of Networking That Almost Everybody Makes (even you...)
By Michel Neray
     Cred-Ability: What it is, how to get it, and what to do with it.
By Michel Neray
     Differentiation-Based Leadership: Three questions that every leader must ask
By Michel Neray

Have A Suggestion?
Toronto Salsa Classes / Toronto Salsa Lessons Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
Have A Suggestion?

More Evan Carmichael
More Information