Why business plans fail?
Do you know why do so many handcrafted business plans fail?
Many business owners perceive the business plan as “only on paper”, “unrealistic”, “waste of time “, and “I don’t need it yet!” “I am too small”.
What if we replace these excuses with:
“It is a working document, real, saves my time in the long run, sets up a direction for my business and helps me to grow.”
Anything in the drawer will not add value but take space.
So Why do business plans fail? Three main reasons are:
- The business plan is done once and put away in the drawer
- There are no clear targets
- The business plan is not realistic – it doesn’t include the full resources needed to reach the goal. I can plan to reach the summit of Mount Elbrus – but without the crampons, I would probably fail. Attention to detail is crucial. The company cannot jump from one million to 3 million without planning for extra resources.
If you do not update your budget nor adapt to changes – the numbers will only be numbers, and you are 100% right about it. You need to work it out and make it fit for your business.
Spreadsheets can look impressive, but if you want to update them manually – that is a never-ending task!
The good news is that we have a solution to this problem where:
The cash flow and a budget can be updated automatically in real-time. We live in a DIGITAL ERA – let us embrace it! imagine that:
1. The payments are reconciled in real-time, too, so your credit control equals perfection.
2. The budget is compared to actual data precisely.
3. The business plan is a working document that evolves with your business and doesn’t grow with dust!
Without a compass and a map, I would be lost in the mountains, especially in bad weather.
In business, there are many clouds, storms and the sun doesn’t always shine bright.
A business plan is your compass, map, and controlling tool for your business, your project, and your next adventure.
Contact us today for a completely non – obligatory chat to discover how we can transform your business from a historical dinosaur into a real-time, digital data creature!