in the beginning, the idea of writing a business plan felt like such a daunting task. Sitting down to specify your target audience, and (gasp) putting together profit/loss projections honestly just felt like a burden. To be honest, the real reason we had such a hard time was we only had a general idea of what we were setting out to do. Nothing was clear cut or precise. Add to that we had ZERO business experience. So the thought of sitting down and really clarifying things felt, quite frankly, like being forced out of dreamer mode which is a really comfortable place especially when you’re unsure of yourself. Then one day we had a meeting, and soon after learned the true value in a business plan.
As we were flying by the seat of our pants and making it up as we went along we ran into a friend who said they’d like to introduce us to a possible investor. “Investor?” we said? “Yes” they replied. So we gathered samples of our goods and soon we were nervously waiting at the reception of the office of the money person (actually it was a man but we’re PC in these streets).
Soon we were sitting across from him and his poker face as we explained what the business was about. Don’t get me wrong, he was quite friendly. Some minutes into the presentation he seemed to be buying into the vision. He started talking about manufacturing in China, scheduling collections, equity and for some reason all that talk made the belly hurt (but that’s a story for another day). As we ended the meeting he asked us to send in a business plan.
So there it was again. The thing we had been avoiding for the longest we now had to do. It was the end of 2017, close to Christmas time. After some days with family, we left to work on the plan into the new year . In some ways it helped that we had some real data (in terms of revenue) to fill in the template we had downloaded. The interesting thing is once we got into it, it turned out to be a pretty enjoyable exercise.
Now, we submitted the business plan and no we didn’t bag the investor which, in many ways, was really a good thing. What we noticed is the year after business plan was our best year yet. When we looked at what we did differently, it was writing that business plan. Something happens when you That’s when we realised. Writing a business man is beneficial because something happens when you lay out a plan. It’s like etching your vision into your subconscious mind and in ways you can’t describe, opportunities come from everywhere and things just seem to go better. It sounds like magic but really it’s science. Now that’s the true value in a business plan in our experience.
So, don’t wait for an investor to knock on your door to sit down and get your business plan going. Even if you’re not clear on everything just do it up ot the point you can and continue revisiting it. It’s an exercise that focuses your mind and has a host of other benefits. Now what’s this got to do with life? All we did was write the plan and things got amazing. How about writing a plan for life each year? Not a resolution, an actual actionable plan. Treat your life like your business, because it really is.