Do I Need a Written Business Plan?

I often have this question asked of me by small and medium sized business owners. The answer is a resounding YES! The Bible says that God created all things by speaking them into existence. It then says that we are made in God's image. I believe that this means we have an aspect of his creative nature. Look around you - everything from skyscrapers to micro chips has been brought into existence first by means of a writ en plan. I believe that each new invention - whether product of idea - comes from someone speaking it into existence.

For your business, the business plan becomes the mechanism by which you turn your vision into something tangible. The Bible clearly states that where there is no vision, the people parish. Your business is a living thing which must have a vision to survive. The act of putting this vision down on paper, where others can read and understand your vision, and assist you in achieving its implementation, causes it to become real.

I believe that many CEO's and decision makers do not write out their business plan out of fear. As long as the idea is kept in one's head, one never need fear failing. Once the business is reduced to a written plan, anyone who can read the plan can judge the CEO as a success or failure. If you do not have a written business plan, take some time over the next couple of days and put your vision down on paper. You can always modify or change your plan - in fact, reviewing and updating the plan is a key part of succeeding with your business. Above all, have fun as you breath life into your business.