Three Myths of Small Business Planning
1. There must be formal - Not so.
The value of a strategic plan for small business is in putting ideas on paper, creating action that takes you where to go and implementing those actions.
2. I’m too small - Not so.
Even a business person can benefit from a strategic plan. A strategic plan can help you make decisions about time management and budget. You can use its strategic plan to help determine whether to attend an event or advertise in a publication. It is a tool checks and balances.
3. A strategic plan is like a ball and chain - Not so.
It was his plan. Too many small business owners feel like once on paper can not be changed. Wrong! Your plan should be a living document that is reviewed and updated at least monthly, if not every week. You are the business owner, you wrote, you know what’s happening in your market - adjust as necessary.
