Most small business start-ups have all read that saying at one time or another. Having never done a single business subject at any level of schooling, I was somewhat "diving into the deep end" when I first bought my Physiotherapy business.
I don't think I even knew what a business plan was. All I wanted to do was be my own boss. At the age of 24, not only was I only starting out on my journey as a physiotherapist, I was now going to be a business owner.
My first attempt at a business plan consisted of writing a few figures down on the back of an envelope (not quite text book...hey?). Before too long I had an accountant, solicitor and bank manager all trying to give me advice, as well as you know who....the parents!
Soon I was the Sole Director and Secretary of my new Company (pretty impressive...hey?).
The point of my story is that you don't have to spend years at business school or months and months preparing lengthy business plans before you dip your toe in the water and become a small business owner.
As I've mentioned in previous blogs, I'm not one to procrastinate on new ideas and business ventures. Whilst some people may see this as being fraught with danger, I prefer to get things moving and learn on the job. Besides, there are no guarantees that a carefully researched business plan is going to ensure success. Think of how many people have spent years and millions of dollars on business plans, only to fail shortly after commencing their new business.
Don't get me wrong. I'm not saying you should never do a business plan. In fact, I've prepared a few business plans in recent times. Firstly when I set up my second business (a pilates exercise studio) and more recently when I came up with the idea of my GripSox(TM) product, now being sold world-wide.
How many of you have written business plans? And, do you think they are essential for business success?
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