The Value of a Business Plan? Priceless!

Recently I was fortunate to receive a free copy of Palo Alto's Business Plan Pro software. When I picked up my free code in July 2001, I knew having this software was going to be important. But it wasn't until this week I realized just how important!

I have worked on creating business plans for other organizations with the purpose of needing to raise financial capital and impress investors. My perspective regarding completing a business plan was definitely that it is a good exercise for companies of all sizes at no matter what stage they happen to be. It was from this premise I began "officially" working on my own.

Over the last two weeks I've been working on the different elements of the plan, and needless to say I have been amazed how much clearer I have gotten on my target demographic, their needs, and what it is I'm offering that sets me apart. One of the exercises is pulling together a market analysis summary as well as population numbers to support it. Being intuitive about the need and the population to support my concept meant realizing that I have always known and trusted the population to support me if my goals were there. I am only halfway through this exercise, and already it alone confirmed for me that in the greater Portland area there are more than enough potential clients to meet my desired client base. Yes!

Other than being a confirmation for me, what other role can this one element play? Confidence booster! After getting just this far in this the exercise, I noticed immediately my confidence in setting my desired client base increased 100 fold. This new confidence has allowed me to expand what my vision for Therapy in Transition is, who am I attracting, and what types of products or services I can begin offering.

I am not even halfway through the business plan, but already it is making a difference in how I am operating my business, what associates and possible collaborators I am calling forth, and what risks I am now willing to assume.

If you are small business owner, are just starting, or have been in business for a while but have not gone through the exercise of putting together a business plan because you see no real purpose, I encourage you to think again and revisit taking the time to complete one.

Until next time, embrace your inner wisdom.

Namaste,
Karen