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Three Planning Myths  by: Denise O'Berry Are you -- like 70% of 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. 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 business owners feel like once it's on paper, it can't be changed. Wrong! It 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. About The Author Denise O'Berry helps small business owners take action to grow their business. Find out more at http://www.whatspossible.com This article was posted on May 09, 2004 Read More Articles from the "Business and Finance" Category: Get In The Game With a Stellar Resume by Linda Matias Low Cost Secured Loans: A Cost-Effective Loan Facility by Aldrich Chappel Giving Yourself An Edge During The Interview Process by Lee Dobbins Are You Being Offered Best Personal Loans? by James Taylor Quick Personal Loan Tips by Paul Rogers 3 Big Reasons To Attend A Live Small Business Workshop by Kerry Beck Tips for Using Business Credit Cards by Morgan Hamilton When To Make Your Career Move To Self Employment by BB Lee Know Your Financials Like The Back Of Your Hand by Casey Gollan Stock Market Retirement Investment Plan by Charles M O'Melia << Back to "Business And Finance" Index

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