Have you heard of Size 10 1/2 Boots? I’m not talking about boots you wear, but the marketing and business development consultants? OK, well they are a firm of consultants who help corporate organisations in the professional services sector drive business growth through change. Their website makes interesting reading, not least because they list all the shoe sizes of the team, but you can also sign up to receive free marketing top tips straight to your inbox!
Their most recent newsletter 10 1/2 things clients really want from a professional services firm is a great reminder of what we all expect as clients, and want to strive for as business owners, whether you’re a self-employed professional, or a large multinational organisation. What did make me stop and think was Tip 2, right there at the top of the list is, the business development plan.
A ha! That old chestnut! Those words that always appear in business coaching sessions, with banks and even with clients, and those same words that make us shrink back in our chair. “Why do I need a business plan” I hear you cry, “my business is up and running, it’s making money and building a strong reputation. Too late for a business plan now, I’m doing everything already!”
Stop. And think. Actually you do need one, even if you think you don’t!
The trap that many small business owners fall in to is they see business plans as a document that tells them how they are going to set up their business, how they are going to market their business to what sector, and what they’re going to do to make their business a reality. They get their first client and that’s it! No need for a business plan anymore as the business has started (and yes, I was guilty of this too!).
How about thinking of a business plan differently? If you originally wrote a business plan, you probably did so to get you on the right track (so you didn’t end up climbing the wrong tree), but what if your business plan now contained what your business does, how you do it, what you do for your business, your mission statement, vision and values? All the key elements of your business that you can refer to and change as your business evolves. Having a document that is written about the ‘now’ of your business reaffirms your ethics, your goals and objectives, your service or product, what benefits clients can get from working with you, and therefore, and most importantly, why they should work with you. It’s all there.
Not that daunting any more is it…?! And remember, not all business plans are the same, your business plan should reflect your business and tailored to you.
Why not set aside some time to revisit your business plan (or start from scratch…!). I’d love to know if you’ve ever had one, if it is still in existence, and how it has changed.
photo credit: HikingArtist.com
