Small Business Planning -- Three Myths

Small Business Planning -- Three Myths
Copyright 2005 Denise OBerry

Are you -- like 70 percent of small business owners --
working without a plan? Here are three myths that need to
be dispelled about strategic planning for small business.

1. It has to be formal -- Not so.

The value of a strategic plan for your small business is in putting the ideas on paper, creating action steps that will get you where you want to go and implementing those action steps.

2. I'm too small -- Not so.

Even a one-person business can benefit from a strategic
plan. A strategic plan can help you make decisions about
time management and budget. You can use your strategic plan
to help you determine whether to attend an event or
advertise in a publication. It's a check and balance tool.

3. A strategic plan is like a ball and chain -- Not so.

It's your plan. Too many small business owners feel like
once it's on paper, it can't be changed. Wrong! Your plan should be an active document that gets reviewed and updated at least monthly, if not weekly. You're the business owner, you wrote it, you know what's happening in your market -- adjust as necessary.


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Denise O'Berry helps small business owners take action to
grow their business. Find out more at http://www.smallbusinessmatters.com