Business
Planning - Frequently Asked Questions
What is a
Business Plan?
A business plan summarizes how owners,
entrepreneurs, and managers proactively
organize a business venture. It details
operational and financial objectives, and
it contains specific plans and budgets
showing how these objectives are to be
realized. It allocates resources and it
measures the results of strategic actions.
A business plan is a living document that
is regularly reviewed and adjusted.
Why do I
need a Business Plan?
Would you drive a car in forward direction
while only being able seeing sideward
and through the rear - view mirror and
this without knowing the road, without
having a map, and with only a vague idea
where you are going?
Would you start or run a business with
only a vague idea of where you are going,
with decisions based on untested assumptions,
and without a clear strategy and objectives?
What
are my risks of not having a Business
Plan?
Well, it is as
simple as the proverb says, “if
you fail to plan … plan to fail”.
Without a sound business plan you
risk being outperformed by well
managed competitors.
In
a rapidly changing world and business
environment, how much sense does
it make having a Business Plan?
“Plans are nothing; planning is everything.”
(Dwight D. Eisenhower).
Circumstances can change, plans can change,
too. While it is prudent to have a plan,
planning is even more important than
the plan itself.
A business plan is a living document
that requires regular reassessment and,
if necessary, adjustment. It is developed
and to take advantage of the changes
of the environment.
Why should I
consider an Outside Facilitator?
Apart
from bringing in planning know-how
and experience, the involvement of
a outside facilitator can greatly
contribute to keep the planning process
focused, objective, and on track. As
neutral party, an outside facilitator
inspires "out-of-the-box" thinking
to tackle “sacred cows” and to challenge
the conventional wisdom within the firm.
The outside facilitator keeps meetings
moving toward a successful conclusion
without getting stuck in non-strategic,
operational issues. In times of management
downsizing and busy schedules an outside
facilitator is a valuable external resource
for services and expertise that is no
longer available in-house.
