A lot of experienced soloists encourage newbies to make business plans before they commence on their business pursuit. However, there are some soloists who just don’t make business plans but rather stays pliable or quick on the trigger. If you look closely, such approach can be absurd.
You see, if you are making decisions regarding marketing and other business-related issues, how can one create strategic plans or decisions? Without a business plan, your decisions will be for short-term periods only and tactical. Also, how much time can it take for you to decide on what you should do and what you shouldn’t if you don’t have the foundation for making that decision? In fact, how can you even come up with decisions?
According to behavioral science, there are a lot of options for humans which leads to doing nothing or doing things over and over again. The paradox of choice, as they call it.
Soloists should always, always, always have a business plan before they set sail and go on an adventure. The same goes to the little things that you’re planning to do. For example, traveling. If you enjoy traveling and you are bound to go to an unknown place, don’t you need to have to have a concrete plan in order for you to execute the whole adventure perfectly and at the same time, make great decisions? The same applies to small businesses or even large ones.
Devising new strategies, long-term plans are some of the most important things that you can write on your business plan. Aside from this, having the right foundation can give you a bigger chance to succeed on your business ventures. Soloists who are more into flexibility tend to be caught off guard and make wrong decisions that causes their business to fall into peril.
However, it is all by your own personal choice, whether you are the type of person who makes long term plans or just go with the flow, then go ahead. If you are a soloist and you plan to expand your business, you will need to attract more investors or partners for you to be able to expand and you can only do this if you have a business plan ready for them to assess. A business plan is the foundation of your business and potential partners or investors would want to know what you plan to do and fopr them to also give their judgement on your plan.
Having a foundation or framework for your business will allow you to be more creative and cook up new ideas that can help your business improve more. In order to do this, one should always have a good and clear starting point. As you make a plan for your business, just make a list and then do it. You don’t have to spend all your time creating lists, take action and everything will fall into place.