A Fluid Business Plan
As a serial entrepreneur, the whole concept of a business plan terrified me. It felt like trying to design a rocket engine without any data or diagrams and with no real destination in mind…until I learned a simple trick.
Keeping your plan fluid prevents the paralysis ofoverthinking and the despair of numbers spiraling out of control. Costs vary.Bottom lines change. Supply chains disappear and rematerialize likeconstellations on a cloudy night. This step becomes the death knell tooverthinkers who want perfect words rather than doable words. Paralysis setsin, followed by defeat. But think of your business plan as a destination ratherthan a Bible. Looking at the map you discover a number of possible routes.Nothing says you must stay on the interstate. Keeping it fluid makes it aprocess. Like in the Pirates of the Caribbean, it’s not really part ofentrepreneurial code; it’s more like guidelines.
Dr. Jeffrey Cornwall, a guest blogger for TheChristian Science Monitor, agrees. He cites as one compelling example arecent Pew study which determined that 1/3 of all consumers now ownsmartphones, impacting the way they conduct business. Trying to stay tetheredto a business plan developed without that shift in demographics would be liketrying to reach a destination with a very old map.
A viewpoint cited by the HarvardBusiness Review is the realization that many successful businesses aredeveloped without any plan at all, despite the fact that the #1 piece of advicefor entrepreneurs is to develop a killer business plan before beginning. Beingable to travel by the seat of the pants allows for dynamic decision making andcognizance of emerging facts. Hence, the fluid business plan.
So what should it include? A clear description of thevalue of your new business. A clear answer to the obvious question of whyyou are the best qualified to make it happen. These two essentials form thebasis of all that follows. They give you a clear destination on the map andinspire confidence in your ability to navigate the uncharted byways to getthere. If you are looking for investment money, include a risk assessment and away to respond to unexpected twists in the road.
A few caveats: Do include your greatest asset. Do describehow you’ll evaluate the process. Address risks. Don’t get bogged down on everypossible disaster enroute. Don’t get married to the plan. Don’t consider it aone and done type of proposition. A fluid plan requires modification andreference to be sure your goal remains in sight.
The bottom line is simple: Your genius idea deserves a fairshot at success. Don’t get so hung up on the process that you forget to startthe engine, and don’t forget to keep the map handy. I’m on my seventhentrepreneurial venture. Each fit a season of my life and resonated for a time.I wrote corporate newsletters and put out a nonprofit monthly magazine forseveral years when our sons were small. When I found myself less tethered tohome, I spent ten years as a glass bead artist and traveled the country sellingmy handiwork at trade shows. When China flooded the market with cheap beads,things changed again. I loved working with friends to host Expos, but youngfamilies’ changing demands altered that landscape. Now I’m writing again,finding this a business suitable for this season of my life. Keep it fluid andadapt your goals to the landscape. Happy Business Building!
