Why Business Plans Dont Work And What To Do About Yours


Home \| Contact Us \| Discussion Forum \| Join \| Text Size \| Why join? \| Search \| Member Area

Home | Sample Articles | Why Business Plans Dont Work And Wha . . .

Why Business Plans Don't Work And What To Do About Yours

Michael Clark

I am often asked to assist with writing business plans. While a business plan is often needed when you are getting financing for your business, I find that most business owners don't find them very useful. Why not? Because usually they are written from a very long term frame (typically five years) and once they are written, they are put on a shelf and never looked at again. I'm going to suggest some ways that you can get more out of your business plan.

1) Review your business plan frequently. Business plans aren't meant to be static. They are mostly a long-term strategic tool, but to be effective you need to look at them regularly and update your strategies. How often? I'd suggest quarterly. Look at which of your strategies are working and which aren't. Do more of what works and less of what doesn't. Ask yourself why some are working and some aren't. What can you learn to make your business stronger?

2) Add a lifestyle component to your business plan. I have yet to see a business plan that includes your ideal lifestyle. Does a bank care about your lifestyle? Probably not. But you should.

Take time this week to add a lifestyle page to your business plan. At a minimum, include how many hours you want to work, where you want to work, how much vacation you'd like and what schedule you want. Then go through your business plan and make sure your business strategies support your lifestyle strategies. What you may find is that you'll have to add strategies for hiring additional staff, streamlining operations, and creating better business systems.

3) Turn your business plan into an action plan. Your business plan is all about long term strategy. It's the big picture about how you'll run your business. Take that long-term strategy and turn it into a short-term action plan. For each strategy you have in your business plan, write a short-term action plan. Include what the actual activity will be, what resources you need to do it (employees, money, time, equipment, etc) and write out a detailed plan for it including deadlines.

This plan should be for the next three to six months. The action plan should include every step you will need to take to accomplish each goal in your plan.

The first time you do these exercises may take between two and eight hours. It depends on how much detail you provide. My experience shows that the more detail you include the more effective your plan is. The next time you do this (remember to review and revise this quarterly) it will take a lot less time.

Each time you do this will build on the time before and your planning will become more and more effective. Now you've got a business plan that works.

If you'd like a sample business plan that works, please email me and I'll send you one that you can use as a model.

About The Author: Start up business resource guide and consultant, Michael Clark has been crafting best small business ideas for over 20 years. Michael is a serial entrepreneur having opened multiple successful small businesses over the last 12 years. For more small business success stories and business resource groups, visit his web site at http://biznbeyond.com. Email Michael at michael[at]biznbeyond.com (replace [at] with @)

Discuss this article in the forum

· How to write a business plan for your nursing business
· Consider these things before starting your nursing business!
· Month 1: A Month-at-a-Time Marketing Plan for Nurse Entrepreneurs - Nursepreneurs

Tip Archive

Join a Nurse Entrepreneur Network MasterMind Group

Recent Forum Posts

Recent Profile Posts

I absolutely love your site.

Dr. Donna Hebbeler, FNP
Anchorage, AK

"Wow! Whoopee! and Thank you! LeaRae, my coaching session with you was everything I wanted and needed. I had been spinning my wheels with regard to my business interests, leaving me both frustrated and weary. In a matter of minutes, you lifted my spirits, opened my eyes and got me thinking about my mission in a new light. Thank you for helping me change my focus. I no longer feel like I'm in a mental quagmire. My hat is off to you as a coach as well as to the Nurse-Entrepreneur-Network for all the information and support it gives to the enterprising person in all of us."

Cynthia Conklin, RN
Sharon, CT

"I talked to you this summer, and wanted to let you know how progress is going... You gave me alot of encouragement, and I wanted to let you know that even tho it is slow, [my legal nurse consulting] business is starting to build. I just completed my first entire case review, did 1 sub-contracting with possible testifying, and am now on my 2nd case as testifying expert and will testify. I emailed approximately 70 attorneys in the past 2 weeks, and the case I am now working on came from the emailing, and I hope that an attorney that responded is not scared off with my fee schedule. I hope that I will hear from more of the attorneys that I emailed and mailed out my packets to. Keep your fingers crossed and say a prayer that it works. I am really hoping that I can get this flying, so that I can spend more time at home with the kids.

I wanted to thank you for your encouragement, and please post this on your site if it is possible, as you have done a world of good for me."

Beth Trussell RN, CLNC
Akron, OH

"LeaRae Keyes is a world-class life coach I have been blessed to know since 2003. She is a warm, perceptive, genuine professional, with an exceptional gift for motivating others. Her approach seems quite effortless, yet it has been refined through years of experience and learning. She is a true pleasure. She is an inspiration in what she has achieved in her own life, and by her own example..."

Catherine Bobenhausen
New York, NY

"I'm so glad I found the Nurse Entrepreneur Network! LeaRae always has great ideas to share with other "Nursepreneurs." I recently finished the teleclass "Get Clients Now!" and I have to say that it was the most motivational and informative program I've done.

Just starting out in my business as an LNC, this program help me set goals and keep me organized. It also kept me accountable to my peers in the group each week. LeaRae is so insightful and has wonderful experience to draw from for those of us who are beginning our dream of being nurse entrepreneurs.

I would highly recommend ANYONE who is just starting their business, or even someone who's been in business awhile and feels like they're in a lull to take this class. They won't regret it!"

Danielle D. Shapiro, RN, BSN, CMSRN, LNC
Shapiro Medical Legal Consulting
Las Vegas, NV

Following a free complimentary coaching session: "Thank you for taking the time to address my concerns and questions regarding marketing techniques. Your keen insight into the art of becoming a successful nursepreneur is so valuable and helpful even to those of us who have been practicing as independents for years! I enjoy reading your weekly tips and have used them in promoting my business. You have given me the confidence to market my business, my services and myself with ease."

Kathleen Loeffler, RN, Legal Nurse Consultant
Medical Litigation Consulting Services
Carlsbad CA
www.kellnc.com

Following a free complimentary coaching session: "Thank you so much for your help! Your words of encouragement have really made me ready to keep trying. Your ideas are great, and I am going to try some of them this afternoon. I needed the boost of confidence you provided me, along with your great ideas. I can't thank you enough!"

Beth Trussell RN, CLNC

Following the Michael Charest Teleforum: "Thank you for letting me be part of the [free] teleforum this afternoon. It was inspiring. Michael Charest made it seem so simple (not easy), it boosted my confidence. I will be using the notes I took to help me sell my services here 'up north'."

Ellen Codner
Graphics Designer
Wascott WI
graphicsalive.com

"I have been out of the net for awhile. It seems just as I was getting up and running with my business, Uncle Sam came knocking and called me back to active duty. It is so refreshing to get your tips to remind me of what I am going to eventually get back to! Keep on keeping us nurses encouraged!"

Brutrinia D. Arellano, RN, BSN, CLNC
Amaris Consulting Group
Converse, Texas

"Thank you so much for your skilled ear, LeaRae! I appreciate the direction and thorough business knowledge you shared with me during [my free, complimentary] coaching sessions. You were VERY helpful!"

Laura Hayes
Organization Consultant
Strategic Organization Solutions
www.SOSfor.com

"I highly recommend LeaRae for anyone who is ready to take their business to the next level."

Pat Funk
Pat Funk Copywriter
Burnsville, MN
www.Pat-Funk.com

"LeaRae helps me... review and think about what I am doing, what my priorities are and how to develop action steps to reach my goals."

Lori Ann Clark
J4 Web Services
Cannon Falls, MN
J4WebServices.com

"Working with LeaRae provided me the support I needed to grow a strong and successful business. She helped me develop practical solutions to a variety of business problems. My profits have dramatically increased."

Melissa Becker
Legal Nurse Consultant
Minneapolis, MN