Long-Term Strategy
Once you’ve got an idea of what you want to achieve (your Vision) it’s time to work out how you get there.
Whether or not you call it a Business Plan (or Business Planning, seeing as it works best when it’s continuous) – it’s basically your guide on how you believe you’ll best achieve your objectives. There are so many variables it’s unlikely you’ll be able to follow it exactly, so as long as you cater for zigzagging towards your goals you increase your chances of success significantly more than by just letting your business run you.
Business plans have other benefits too – dealing with the bank if you need a loan, persuading other people to buy in, talking to bigger prospective clients who want to know you’ve got solid plans, getting endorsed by other businesses – and you’re not restricted to one version – once you’ve got the gist of it you can have a “private” version to withhold your secret recipe for success, and one for everyone else!