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Are business plans still relevant?
There might not be a prescribed formula to getting your business started, especially if it depends on social media traffic
When starting a business, it’s important to plan but flop e-one is that the content in the business plans has little to do with the reality that will actually emerge. For more perspectives, I asked ordinary people on the street how they managed to start and run their businesses without a business plan.
- “When I started my business, I focused on incorporate facts from real world testing to allow me to adjust course as necessary.” – Anonymous 1
The top three priorities for anonymous, who is a social media manager, are people, followed by people, and more people. Whether you have a business plan or not, in the social media space what you need to sustain your business revolves around people.
- “Mina bru wam, what I did was write down a marketing plan rather than a fancy 15-page business plan because I believe marketing is important in every business.” – Anonymous 2
Doing all these interviews made me realise that the common advice is to start small and be patient because you require the willingness of people to visit your YouTube channel or social media pages.
How you practically make money is more important than pages of excel spreadsheets showing financials that are simply too hard to predict at any stage of the business.
Most people feel a sense of accomplishment upon completing their business plans, but what does it really get them? Filling worksheets can never replace zeroing in on the passion and purpose of your business.
Last updated Friday December 17, 2021
