Build A Better Box

Ever gone to grocery store with no list? What happens? You buy $100 worth of "stuff", but forget the four things you went there for in the first place. The result? You make a second trip to buy the four items - and maybe even to a different store and at a higher price - but what else happens? You also wind up buying another $50 worth of extra stuff on impulse. And don't tell me you've never done this; we all have!

Imagine running a business this way? Yet, it happens all the time. How long do these companies survive? And if they do survive, how much better could they have been with a little strategy to their actions?

This is all seemingly common sense, but the notion bears repeating. A thought-out, well designed, and in-writing plan is something every business needs, but is something that far fewer people actually ever seem to execute. A plan defines a multi-faceted vision, and summarily outlines the path of tactics to arrive at the series of goals.  We don't always wind up getting there in the same way as we originally thought, but that's sometimes perfectly OK - and logical, actually.

Without a plan, it's like taking a family vacation with no formal thought as to the destination, no hotel reservations, no luggage, and no spending budget. How would such a family know for how long they'd be in the car, when they'd next eat, or how much money they'd require when they leave the driveway? What would they tell their neighbors and kids' schools when asked when they should be expected to return? What if they hate the trip, hate the [eventual] destinations, and hate each other in the process? In all likelihood, they'll spend quite a bit of time driving in circles, looking for a quick bite to eat, paying way too much for everything, running out of time, and generally running out of steam. In the end, they'll feel they've accomplished nothing, because that's exactly what they planned: nothing.

A common school of thought suggests that when defining a business plan, it's important to stay focused on a vision and to not stray. This is the "higher purpose" - our mission - when we set out to build a business, or simply build our station in life. The tactics, however, may continually change. Market factors, social and life changes, financial upsets (or windfalls), and other detours in the road all are cause to re-evaluate and redefine the journey. We can make attempts to control the flow of the journey as best we can, but a good business plan allows for contingencies. For corrective action.

The founders of Google, Microsoft, IBM and nearly any other large scale company could never have necessarily predicted their ultimate successes and failures, and by which exact journeys - great and small - they'd follow. But they generally stay alive and strong because they have a focus on a sense of vision, guided by core values, and driven by flexible execution. The same logic can apply to small businesses and entrepreneurs alike.

Just don't take a cross-country vacation with the kids without checking a few maps and reading some brochures, first! Like the saying goes, "Failing to plan is planning to fail."