Seeking support

Do you have a team? Some critical friends? A mentor? 

If you have people whose opinion you value, ask them to join you in the business planning process. You do not need people who think you’re great. You do not need people who sit on the sidelines and don’t ask questions. You need trusted people that will actively participate in the planning process.

If you do have a team, then their input could be really valuable. You should set aside time – not in a cafe or your lounge room – but in a space where you can brainstorm ideas, capture them (documentation is important) and make some decisions. Treat this session seriously – you are not just having a bit of a chat and floating a few ideas!  

Think about what should someone be able to know from reading your business plan, such as:

• What I want to do?
• How I am going to proceed?
• How I am going to measure success?
• What research backs up my ideas?
• How much money I need?
• All the people involved? 

Not:

• How much money I need before I can retire? 
• What school I went to?
• How well I did in university?

As you develop your business plan, be mindful that you are creating a living document – you want to refer to and use this document regularly, not store it away in a filing cabinet.  Use your business plan as part of your ongoing business planning and revisit it if:

• Economic conditions change (rates of pay, interest rates, taxes)
• There is a new supplier
• There is a new competitor
• The market changes.