Developing A Profitable Business Plan

Most people that start a new business do not start out or even end up owning a business. They start out and end up owning a job. One that if they do not go in one day for either reason or vacation, then nothing gets done. This is not a business. It comes about when an employee of a company does a job and then one day wakes up with an epiphany: “Hey I can do this for myself!”

This is the start of what goes wrong at the outset. The reason is: Just because you understand the technical work of a business, it does not follow that you understand a business that does that technical work. The technician, be it a hairdresser, a graphic designer, a shop assistant or a super-sales star ends up doing what they are good at, and fully understand, plus becoming book-keeper, manager, finance director, strategic planner and general bottle-washer. As such there is no business, just a job that you have tied your body and soul to: you and only you are the reason it works. This technician mind-set focuses on doing the business as they understand it based on the job they were previously employed for.

A business must start with a plan as to what it is intended to become and why.