Creating a Meaningful Business Plan
Depending on how they are constructed, business plans can be a useful tool or a useless time wasting device. As time passes and you do not meet your goals and benchmarks, it can become a distracting and disheartening document. But charting your course and plan of action over the first several years of your company’s lifespan is essential to its long-term success, and doing so can prevent you from operating like a rudderless ship.
That is why it is important, before you invest too much of your time and money, to come up with a meaningful business plan that can serve as a guide. Contact the Des Moines business lawyers of LaMarca Law Group, P.C., at (877) 327-2600 to speak with an experienced attorney about the steps that you can take to get your business started on the right foot.
Business Plan Dos and Don’ts
Everyone is motivated by different factors. Moreover, disparate types of businesses need to make plans fitting separate aims and modes of operation. Failure to take this to heart as you are crafting your own business plan can lead to a variety of pitfalls as you mistakenly model your enterprise on another that does not accurately capture your own company’s position in the marketplace. To help you, consider these basic tips:
- Expect the unexpected – plan to build in buffers to deal with expenses
- Get specific, but not too specific – vagueness or hyper-focus can derail good intentions
- Cover everything – personnel, facilities, products, and everything else should be included
- Be unrealistic – though your business may rocket into the stratosphere, don’t rely on that to make payroll
- Be too conservative – just as overreaching can be harmful, so too can underachievement
- View it as etched in stone – flexibility is an important attribute of successful businesses, so if changes have to be made, make them
If you approach business like a game, it is a virtual certainty that you will lose. Thoughtful and serious consideration can gain you victory, however. Contact a Des Moines business lawyer from LaMarca Law Group, P.C., at (877) 327-2600.