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A business planViews: 195
Jul 17, 2007 7:40 pm re: A business plan

Steve Novak
Here's my take. A business plan is a startup or early stage plan that defines the business. Every individual or group starting a business should have one. It helps you define the business, gives you direction, provides talking points, and gets you organized from the start.

For an established organization (for-profit or non-profit), a Strategic Plan is desirable. Strategic planning carries negative connotations for many people, but that's because it's not often done right and is not effective. The scope and detail will depend on the nature and maturity of the organization, and it's not an annual event that results in words on paper.

Regarding the comment that business changes too fast to make business or strategic planning worthwhile, I think because business can change so fast you need a defined plan even more. Entrepreneurs are always thinking of new ideas and chasing new opportunities. This is a strength, but can also cause many problems. With a well defined plan, you can then evaluate new ideas and opportunites against your objectives and weigh their merit and odds of helping you reach your goals. Without a plan in place, you're just running around guessing.


Steve Novak
President
PPR Management Services
Improving Profits by Improving Performance
www.pprmanagementservices.com

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