Why Avoiding to Plan Prevents You from Making More Money

Why Do So Many Business Owners Avoid Planning?

Avoiding to plan prevents owners from making more money. So why do so many owners avoid to plan?

Every business owner starts a business with dreams of success. Unfortunately, the odds are not on their side.

According to Fundera, 20% of businesses fail in their first year, 30% fail in their second year, 50% fail after five years, and 70% fail by year 10.

Why are the stats so grim?

Research shows that nine out of 10 US businesses fail because of lack of general management skills and planning.

Entrepreneurs don’t plan to fail. They fail to plan.

If a business plan is so key to an entrepreneur’s success, why is avoiding to plan so common? Why does it get pushed aside? Why isn't planning a priority?

If you have skirted around developing a business plan (hoping your Online Business Manager won’t ask you about it), you are not alone. Here are some inaccurate assumptions business owners make about business plans, and the facts that will set the record straight.

Avoiding to Plan Reason #1: It will take too much time.

You envision the business plan process taking time, bandwidth, and manpower you can’t spare. There’s no room in your schedule for lengthy meetings or week-long retreats.

FACT: The business plan process doesn’t have to be time consuming. With the right person leading you (like an Online Business Manager) you can develop a solid business plan in a few hours.

Avoiding to Plan Reason #2: You don’t know where to start

You’ve heard about business plans, but you’re not sure what is supposed to be in them. You’re too busy putting out day-to-day fires to figure it out.

FACT: The best business plans are simple. There are free business plan templates and other helpful resources online, which is a great place to start. Additionally, an Online Business Manager and your business coach can get you pointed in the right direction.

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Avoiding to Plan Reason #3: A business plan is rigid and inflexible

You believe that a business plan will tie you to a path you’re obligated to follow. You will develop goals and plans you’re committed to meet.

FACT: A business plan is a fluid, flexible document that should be monitored and adjusted as your situation and business changes. Continually adjusting your business plan means it’s timely and relevant.

Avoiding to Plan Reason #4: It’s a big document that no one reads.

You think a business plan is a five-inch thick, hard-bound book that will take forever to write and even longer to read. You know it will end up collecting dust on your shelf anyway, so why bother?

FACT: You’re right. No one wants to read a document of that size, but that’s not what a business plan is. A useful, effective business plan can be two to three pages long.

Credit to photo source. Add the outside lInk.

Avoiding to Plan Reason #5: I'd Rather Just Do It

Inspired by Nike, you are excited, passionate, and want to get started with your business. Why get bogged down with the details? They will figure themselves out—you have dreams to get underway!

FACT: The exhilaration and elation of starting a business is understandable. But launching a business without a plan is risky – even financially dangerous – and you need a roadmap to be successful. Just as you wouldn’t take a cross-country trip without Google Maps or Waze, you shouldn’t start a business without a plan to guide you.

Take It From the Experts

Yogi Berra said, “Without a plan, even the most brilliant business can get lost. You need to have goals, create milestones and have a strategy in place to set yourself up for success.”

If you’re in denial about business plans, think you’re allergic to the process, or don’t know where to start, an Online Business Manager can help. We believe business plans are one of the most important tools in a business. If you don’t have one, we won’t make you feel bad about it (but you can bet we WILL ask you about it). We are here to help and support you in all aspects of your business – so you can be among those entrepreneurs who plan to succeed!

Schedule your free consultation with Healthy Business Manager today!

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Experienced heart-centered, online entrepreneurs are often stressed and exhausted because they juggle everything in the business. I manage operations, freeing the owner to focus energy on growing the business.