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Everyone embarks on small business differently. Some people, at least in the beginning, come in with a full plan for everything. Hence the words “business plan.”

Others kind of fall into small business and fly by the seat of their pants. They use experts a little. They probably have a banker that sets up their business account, perhaps they have other experts that they draw advice and direction from but they don’t have a comprehensive plan to do anything.

The Merits of a Business Plan

As a small business owner for the past 25+ years, I have to tell you I basically fell into the second category for most of my time as an entrepreneur. In the past 5 years or so, I have been slowly changing that out. I have always had a computer tech support person to rely on because so much of my business, even in the early days, has been based on using technology.

The best gift I gave myself (and my business) was to hire a marketing coach to mentor me on the principles of marketing especially in this online work at where we live in today. In the past year and a half, I have learned more about how to do things correctly and what was not working than in the prior 25 years.

At the same time, I stopped doing my own taxes and let an accountant take over. I am sure my tax software was doing a fine job but then I didn’t get the benefit of the accountant’s perspective or things like verification that resume services don’t need to pay sales tax. Before I even hired him, he confirmed that the advice I had gotten from CPAs in the past was incorrect by sending the copy of the e-mailed answer he got directly from the Department of Revenue.

Flying by the seat of your pants

You can fly by the seat of your pants and wonder why your business seems stuck. You can blame it on the economy and many do. But if you spend time actually running your business — not just keeping it going, you may find that if you had invested into some expert advice on one aspect or another of your business, you would be so much further ahead in the long run.

What results have I seen? My business now is generating significantly more best payout online casino income than ever in the past. Feast and famine still happen but at a different level than before. I’ve learned to start planning to avoid the impact of feast and famine by making sure I put cash flow savings in place to buffer the famine times. And I have learned to keep marketing consistent. It is easy to stop marketing when things are going well because we are too busy or when things are going poorly and we think we can’t face putting out a positive message. Consistency in marketing will level most of the feast and famine moments. Financial planning will level the rest. I don’t believe in blaming the economy. You have to take charge of your own destiny!

By admin