Planning Your Business Plan (Part 8)

BusinessPlanYour I’s are dotted, your T’s are crossed, your facts have been double checked, your assumptions are well supported, you’ve found the delicate balance between vague and detailed…sounds perfect. Can’t fail, right?

I happened to be a very optimistic person, but if there’s one thing that all my experience has taught me over the years, it’s that there’s risk in all business. I hope I didn’t burst any bubbles. I want you to believe in yourself and whatever you’re trying to create…with every cell in your body…but no matter how perfect your Plan is, risk still exists. risk blocksI’m certainly not going to list the millions of things that can have a detrimental effect on your business, but we both know they’re out there. Here’s what I’m getting at: Know the ones that stand the greatest chance of occurring. Your Plan certainly doesn’t need to detail them out. Quite frankly, avoid them as much as you can. BUT…when the day comes to present or pitch your Plan, make sure you’ve done your homework. Have well thought out answers that clearly describe how you’ll minimize or eliminate those risks. Don’t stand there like a deer in headlights, or you and your Plan will be dead in the road.

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