Recently I had a conversation with a fellow small business owner who told me: “I finally now know where I want my business to go. I want to be number one in my industry, and I want to double my revenue the next two consecutive years.“
When I asked him if he had a plan, he responded with, “I have a plan but I don’t have it typed out.”
The difference between a plan and an idea is simply one is a well thought-out idea that is written down. Electronic or paper, an idea turns into a plan when someone other than you can read it.
Unfortunately, small business owners often neglect their ideas by not turning them into plans. This time consuming, but critical, step creates a blueprint that leads the business to its end goal.
Plans can make or break an organization, here is why. When an entrepreneur, who is usually pretty creative by nature, relies on an idea, his end goal often will become distorted, evasive, and unattainable. It is the job of business owners to constantly look at a process and find ways to improve on what is already working. The idea that is planned out in the head of the entrepreneur will keep modify itself if the plan is never written down. To an employee looking to help the organization grown, there is nothing more frustrating then a goal that never seams to be consistent.
A plan creates a blue print that his colleagues, partners, and employees to follow. By allowing the other stakeholders take part in company’s direction, the owner delegates some of the responsibilities of micromanagement and short-term planning, leaving him more time for developing long term strategy.
Business owners shouldn’t shoot themselves in the foot by trying to implement ideas. Turn those ideas into plans; it makes implementing strategy so much easier. After all, Life of a small business owner is hard enough.
