A Business Plan Just for Yourself?

“If you don’t know where you are going, you might wind up someplace else.”
—-Yogi Berra

One of the things I hate to admit is that I have registered at least a dozen domain names and then did nothing with them. I had all of the best intentions but, since I did not have a complete plan, I wound up someplace else. That place is known as “no-where.” I should have taken Mr. Berra’s advice, but I probably didn’t understand it at the time.

Not long ago, a spur of the moment inspiration from “no-where” gave me an idea for yet another domain name. I thought this name was just incredible, I couldn’t believe that it was actually available. So, in my typical, habitual style, I just went right ahead and registered that name. Then I wanted to kick myself for doing that again! I had no idea of what I was going to do with it. What a waste of time and money this type of spontaneous act can be!

» Read more: A Business Plan Just for Yourself?

Business Plan For a Small Business – What Purpose Does it Serve?

One of my favorite types of projects is working on small business plans with clients. There is an air of excitement as they work out their ideas and put their dreams on paper. I always think that I might be witnessing a birth of another future corporate giant. Some of those ideas are compelling, others seem unattainable, and yet the confidence and certainty my clients exhibit leave me with no doubt that they will succeed.

The Challenge of Writing a Business Plan
As excited as these entrepreneurs are about their ideas, for many of them the actual task of writing things down in a business plan format is very hard. They would rather get started already, develop their product or service, find a location – do all the things a typical small business owner does. They have such inner clarity about every single detail and yet communicating all of it in writing – in a business plan format – seems completely against their nature. It feels too structured, almost unnecessary.

Obtaining Financing
And yet, especially it today’s world, it is necessary. Most of the time the purpose for a small business plan is to obtain financing. No matter which group you are thinking of approaching – venture capitalists, commercial lenders, potential investors – they will all want to see a formal, written business plan.

» Read more: Business Plan For a Small Business – What Purpose Does it Serve?

Commercial Real Estate Agent Business Plan – Why You Need One

A commercial real estate agent needs a plan. In that way you can build your systems and focus on the things that need to be done.

It is interesting to note that many ordinary or new agents struggle with the entire job structure for some time until they find something that works for them. The longer they struggle the greater the frustration in getting clients and listings. They need a plan.

In this market you need quality clients and good listings. It is the good listings that will bring you better inquiry and over time that will help you with market share and completed transactions.

» Read more: Commercial Real Estate Agent Business Plan – Why You Need One