If you lead your own venture, there’s a good chance you invested hours upon hours in a meticulously-written business plan. In fact, many experts consider a business plan to be the backbone of success, but how many entrepreneurs actually refer back to the plan as they progress to new stages? Not surprisingly, many new business owners create a business plan merely as a way of attracting investors, or to fulfill financing and loan requirements.
While it’s nice to take time to set goals for your business before the ball starts rolling, formal planning is not all it’s cracked up to be. More important than the thick plan you may now use as a paperweight are your actual plans. Where do you see your business going?