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Business Plan vs Napkin Plan
It’s a question that plays like the game of rock, paper, scissors — do you write your plan on a napkin, a piece of paper, on a rock, or in software? Which is the best?
Having celebrated 20 years in business in the entrepreneurship or small business ownership space supporting entrepreneurs in over 101 countries and, over 30 years of running businesses, I’ve learned a few things!
One of them is that you don’t need a business plan to start a business — but you do need a plan.
I’m not saying you shouldn’t write a business plan, or that you HAVE TO have one. I’m saying it helps to have one.
My experience has been that those who write it down have a much better chance of reaching their goals, whether that is on a napkin, paper, rock, or software.
Many studies prove that writing things down — whether you have the ability to do it yourself or have someone else write it for you — just seeing and hearing it over and over elevates the chance of reaching it.
I’ve always believed that the entrepreneur should write the plan themselves, and as I continue to grow but I am convinced it is important to be engaged in the process.
Your plan doesn’t have to be formal. You could download a free template somewhere, but my suggestion is to keep it simple and basic…
