From The Editor | January 30, 2012

What's Wrong With Your Business Plan?


By Mike Monocello, chief editor

At RSPA Inspire, during this morning's day one education session, Brett Harward took some time to talk about business plans. While his material went into greater detail than I can share here, he did provide a handy list of ways that business plans commonly come up short. If you're creating a business plan, or find yours not working out as you'd like, consider the following points of failure.

‣ Procrastination
‣ Idea Inflation
‣ Fear and dread
‣ Spongy, Vague Goals
‣ Diluted Priorities (prioritize, have a #1 to focus on)
‣ Hockey Stick shaped growth projections
‣ Too much information (should be a 2-3 page working document)
‣ Not completely based on what you know
‣ No basis for ongoing improvement and learning

Do you have any additional thoughts or experiences to share? Do so below in the comments section.