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Small Business Planning -- Three Myths

Are you -- like 70 percent of small business owners -- working without a plan?

Here are three myths that need to be dispelled about strategic planning for small business.

1. It has to be formal -- Not so.

The value of a strategic plan for your small business is in putting the ideas on paper, creating action steps that will get you where you want to go and implementing those action steps.

2. I'm too small -- Not so.

Even a one-person business can benefit from a strategic plan. A strategic plan can help you make decisions about time management and budget. You can use your strategic plan to help you determine whether to attend an event or advertise in a publication. It's a check and balance tool.

3. A strategic plan is like a ball and chain -- Not so.

It's your plan. Too many small business owners feel like once it's on paper, it can't be changed. Wrong! Your plan should be an active document that gets reviewed and updated at least monthly, if not weekly. You're the business owner, you wrote it, you know what's happening in your market -- adjust as necessary.

Denise O'Berry helps small business owners take action to grow their business. Find out more at http://www.smallbiz-bootcamp.com

In The News:

Washington state bug hunters have located the first-ever Asian giant hornet nest in the U.S., it was reported Friday.
Ahead of NASA's return to the moon in 2024, the space agency is teasing an "exciting new discovery" about the celestial satellite.
A tectonic plate "lost" for 60 million years hiding under the Pacific Ocean has been reconstructed by scientists.
A trio of space travelers safely returned to Earth on Thursday after a six-month mission on the International Space Station.
Following Tuesday's historic touchdown on the asteroid Bennu, NASA has released never-before-seen images of the OSIRIS-REx spacecraft kicking up rocks and debris on the space rock's surface.
A U.S. Navy sailor killed in the attack on Pearl Harbor has been identified and is set to be buried in Kentucky.
Talk about “masked bandits.”
2020 has been a turbulent year, to say the least, but an endangered white rhino is giving hope to visitors at the Colchester Zoo 
Marine researchers say there are more sharks in the ocean off Southern California now than ever before, according to reports.
NASA’s OSIRIS-REx spacecraft made its historic touchdown on asteroid Bennu Tuesday, retrieving a sample from the space rock that will be returned to Earth.

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