Passion and pain; Chapter 2: Does your business have an economic right to exist? Do you have non-financial resources to tap into?
If you go ahead and fill in all the boxes, will this plan be the foundation of a great business? Can we say the same of business plans? Can the launch of your business be compared with facing your enemy?
The analogy is not that far-fetched. Business plans, much like battle plans, last only as long as the first ambush, and then you must think on your feet. This is a vital skill for entrepreneurs. You need to be like a battle commander, working through the night to plan your strategy for the next day.
Well, okay, not necessarily through the night, but successful entrepreneurs spend a good part of their hour working week on strategy and tactics.
In fact, new entrepreneurs can be forgiven for believing that, once they have a plan that ticks all the boxes, they are on the road to success. The reality is that, while it is essential to start with a good plan, it is equally important to adapt the plan to changing circumstances in the market.
Entrepreneurship is a tough battle — it can result in some of your most rewarding achievements, but you must be aware of the challenges and be prepared to tackle them with tenacity and versatility.
A good way to prepare for the onslaught is to start by thinking about how to drive your cash flow — the life blood of any business. New entrepreneurs should draw up several versions of a cash flow plan that factor in potential challenges, such as rising interest rates, non-payment by debtors, electricity cuts, theft of delivery vehicles, declining product demand, seasonal variations in supply and demand, and so on.
In this way you will start thinking ahead and begin to see how important it is to adapt your plan as you go along.
More important than a good plan is your talent for dodging bullets and digging new trenches, or for working through the night to come up with a brilliant new tactic. In the end, the sustainability and success of your business does not depend on your plan but rather the quality of your planning.
However, this process must go on through setback and rally, through advance and retreat, through victory and defeat. Planning does not stop until the war is over.
Raizcorp is the enterprise development partner of the Seda Small Business Stars business plan competition, in which four winners will be selected for a R Raizcorp development programme.Allon is the author of two bestselling entrepreneurial books – Lose the Business Plan and What to Do When You Want to Give Up.
Allon’s passion and focus on the development of entrepreneurs attracted the attention of the World Economic Forum (WEF) which, on 11 March , awarded Allon . Allon Raiz, CEO Raizcorp ; and author of two bestselling books – ‘Lose the Business Plan’ and ‘What to Do When You Want to Give Up’ “IntheFlow is a both a personal and very practical book introducing readers to the technique of mindfulness and its application in both personal and organisational life.
In his interview with Regenesys Business School, Allon Raiz discusses some important q.. Watch Video. Why lose the business plan Writing a business plan is a valuable thought process when considering where you want.. Watch Video. Allon Raiz is the founder and CEO of Raizcorp, the only privately held, unfunded, profitable business incubator on the African continent, supporting in excess of businesses.
Allon is the author of two bestselling entrepreneurial books, Lose the Business Plan and What to Do When You Want to Give Up.
Allon Raiz is a successful entrepreneur - he has built numerous businesses, many successful and some not. He is the founder of Raizcorp which nurtures entrepreneurs and grows profitable businesses. He has won numerous awards for entrepreneurship and innovation and has been invited to speak on business incubation around the world/5(1).
* Allon Raiz is the chief executive and founder of Raizcorp and author of Lose the Business Plan: Planning only the start in business Share this article with a friend.