3 Reasons Why You Should Dump Your Business Plan


3 Reasons Why You Should Dump Your Business Plan
Beth Worthy

Beth Worthy

4/2/2014

Dump Your Business Plan

Whether you’re in business school or you’re simply talking to the average business owner you’ll hear one common piece of advice when discussing starting a business: make sure your business plan is solid. While that might be common advice there’s a chance that it isn't good advice – at least not for you when you’re first getting going.

In fact, dumping your business plan might just be the best thing you can do to help your business get off the ground and grow in the first few years. Below, you’ll find reasons you should consider leaving that business plan in the desk drawer.

• Most start-up businesses simply don’t succeed in the first year, so your business plan isn’t going to do you any good. You might think it’s wise to stick with a plan hoping that your business will pick up six months down the road, but chances are it simply won’t. What you should be doing is thinking of ways to adapt your business each and every day to make it one that succeeds. You can’t build that into a business plan, and the ability to accommodate what customers and clients needs quickly could be the difference between life as a business in the second year or starting over.

Any Project Size, At Your Deadline.

Get Quality Transcripts With A 99% Accuracy Guarantee.

• Have a vision, not a plan. If you really want to succeed in the business world you need to be a visionary – somebody who is adapting the market to what it is they do and changing how people do certain things each and every day – not trying to chase what you think customers might want. You won’t know how to appropriately craft that vision if you stick to a business plan that will likely be stale before your company really gets off the ground.

• You need to be willing to take risks when you see opportunity. If you don’t do that you won’t ever make it in business!

Get Latest News & Insights Sent Directly To Your Inbox

Subscribe Now

Beth Worthy

Beth Worthy

Beth Worthy is the President of GMR Transcription Services, Inc an Orange County, California based company that has been providing accurate and affordable transcription services since 2004. She has enjoyed success at GMR for almost ten years now and has helped the company grow. Within two years of Beth managing GMR Transcription, it had doubled in sales and was named one of the OC Business Journal’s fastest-growing private companies. Outside of work, she likes spending time with her husband and two kids.