How to Use Business Plans

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True, business planning sucks because you can't predict the future.

But, here's the gem from a business plan:

  • You can use it to measure how much actual results differ from that plan.

Without it:

  • You don't know if you did really well.
  • You don't know if you sucked-to-the-suck.

You + Goals

For instance, take setting goals:

  • You set a goal to sell 1000 widgets.
  • You sell 500 widgets.

Setting that previous goal of selling 1000 widgets let you know that you underperformed by 50%.

  • "To do better, we must increase our pitches by 50%."
  • "Or, we must reduce our prices to sell more quantities."

Business plans -- in effect -- let you determine how well you do relative to how well you want to do.

Like an NBA team, you start measuring your wins/losses.

Set a plan. Measure goodness.

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Posted on November 06

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