How important is the small business planning process? What form should it take? These are just a few of the questions likely to arise with the inexperienced entrepreneur excited to start a business and make their mark. But, hey, planning is usually part of the process in one way or another. Here’s a glimpse at how small businesses handle planning in many different parts of their operation, but first:
Basics
Do you even need a business plan? It might be a good question to ask before you start the planning process. But, truth be told, a better question might be, what form should your planning taking? For example, have you done solid market research first to better understand what form your business should take? Don’t stay in your apartment generating ideas and business plans. Get out there and test your plan. The New Business Idea
Why bloggers need a business plan. You’ll need a plan in business no matter what the size of your venture. A business blog is just another kind of business, not an exception to the rule. Getting started and just hoping everything will turn out alright is not a reliable strategy. Instead a strong, well-researched plan will yield success over time. blogworld
How To
A plan to go green. Sometimes planning in business is also needed when implementing a major change…like going green with your small business. The decision is not only a responsible one and good for the environment. It can save your small business some serious money as well. But as you can see from the post above, it’s also an involved switch that requires planning to implement properly. Get Busy Media
Building a solid defense strategy. You can count on the competition or someone else out there with an ax to grind eventually deciding to take a shot at your company or reputation. But what will you do when someone attacks your brand and do you have a plan in place to handle that eventuality? It may be impossible to anticipate all threats to your business, but having a plan to at least address the issue is a step in the right direction. Inc.com
Resources
Resources improve the planning process. Information is a key component of any good business plan and having those resources simply, quickly and inexpensively available is important too. Our sister site, BizSugar.com, introduces a new resource center you may want to consider. We hope you find it helpful. BizSugar
What’s your social media business plan? Social media is no longer exotic, this post from Bryan Cochand would have us understand. Business owners who understand its uses are making money and seeing great expansion. But if you’re one of many business owners still waiting to dip your toe in the social media waters, you’ll need a plan to get a small business online marketing campaign up and running. New Biz Blogger
Strategy
No matter what your projections, they’re probably wrong. The one place where small business plans fail, particularly in the beginning before a company is even making money, is in the world of projections. And most projections seem to be over optimistic, according to a recent study. This shouldn’t discourage small business owners in any way from making the best forecasts they can as part of the planning process. But being skeptical about even your own financial projections is also a good habit. BNet
When business plans change. Sometimes the business you begin with is not the one you end up pursuing. The trick is to know when (or if?) to change direction, change your plans and change your outlook. Sometimes it isn’t a very easy choice, but it’s one small business owners and entrepreneurs must face every day. So how do you know when to change plans and when to stay the course? Read on for some insights. Inc.com
Finance
What investors expect from your business plan? This does not apply to all small business owners, of course, but the classic application of the business plan remains as a means of attracting investment capital. And if this happens to be your purpose too, then it would be best to know what investors want. Here are ten essentials. Startup Professionals Musings
The building blocks of better projections. Though we all know (see above) that financial projections can be among the trickiest things to conjure, they may be necessary depending upon your plans for your business. Certainly when planning to sell or attract investment, projections will be expected. But how can you forecast more accurately and credibly to avoid obvious problems? Here are five steps to get you started. Open Forum
I agree, bloggers should also have a business plan, even a mission and vision statement. Business bloggers should also become professional, whether they earn big or small. One thing I also want to emphasize is that when we create a plan, we should invest time to make it better. And when we are done with it, we should stick to that plan, despite of the many distractions.