“The 3% of people with written business plans earn more than the other 97% added together!”
Whether or not you are wanting to sell a business, it is fairly well known that those business owners with a written business plan are far more successful than those who don’t. There’s one story that goes along the lines that a man was riding a galloping horse; when passing by someone, they shouted out “where are you going?!” The reply from the person riding the horse: “I don’t know, ask the horse!” Most people (not just business owners) have no idea where they are actually heading in life, most have some rough idea in their head but leave everything to chance on how to get there. Others really do leave things to chance often saying “when I win the lottery…..!” and carry on with the same old habits. And then there’s that quote from Henry Ford:-
“If you always do what you’ve always done, you’ll always get what you’ve always got.
Ideally, you need to have a business plan that is aligned with your own personal aims, where you don’t have to sacrifice “health for wealth”. Your plan should allow you to create a business that works without you, something that becomes a “saleable asset” where you can take time off when you want to, benefit from the cash-flow and ultimately, benefit from the increased value of the business for when the time comes to sell. But don’t just take our word for it. Watch what Brad Sugars has to say about Business Planning by CLICKING HERE.
Of course, producing a written plan that is realistic and achievable, with action plans that are SMART (specific, measurable, accountable and time-measured) are not always easy to prepare, when it’s your own life or business that you’re trying to plan out. It’s far easier to be objective telling or suggesting to someone else what they should be doing! Many business owners for instance, like the thought of selling their business but have given very little thought to what they might do, once the business has been sold. Many deals have crashed, not just because the sale process wasn’t properly planned out in the first place or because the business owner decided to take tax advice right at the last moment. The business owner often pulls out of the deal when it has suddenly dawned on them that they’re going to give up everything they’ve developed over several decades and have no idea what to do with themselves once the keys have been handed over. No wonder one prominent business broker states that their commission must be paid in full, if the business owner pulls out of the deal, once Heads of Terms have been signed!
The good news is that we can help! Our business planning expert is able to talk you through all the questions that you need to be asked and produce that all important written business plan – aligned with your own personal aims and objectives. You can get started now, by completing the form below:-