Tuesday, June 3, 2008

SMEs - do business plans! (1/2007)

This is a highly debatable topic.

There are many business owners who are highly successful, yet they have never had a business plan. Similarly, there are many businesses that have failed because they never had a plan.

There will inevitably be research for both arguments. However, my personal belief is that while there may be many successful businesses who did not have a business plan, I believe that the reality is that we are in fact referring to a WRITTEN business plan when this statement is made.

I think a written business plan may not be crucial, but I am sure that all successful businesses had a plan, albeit that it was perhaps merely a mental plan. Most successful owners I have met had a clear vision of where they were going. That to me is indicative of a plan.

Rob Smorfittt

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