Even if you are in business 20 years-write a business plan

Mortgage and Lending with Mortgage Magic

Currently at Sales Magic (http://www.salesmagic.biz) I am teaching a small business management class. This class, as the name says is for the small business person and in this class we have an architect, a CPA, project managers and even a Zen teacher.

Most of the class members have been self employed for years and I went around the room and asked if when they started their business did they use a business plan. The answer in every case was, "No.". Even when I opened Mortgage Magic which is a corporation, I did not use a business plan.

One student made an amazing comment. She said "I could not have done a business plan because I did not know then what I know now". Experience and time educates us.

I did not do a business plan but now starting from where my company is today I am going to write a business plan; a practical plan. The reason I say 'a practical plan' is because so many plans have a lot of words that lead to nowhere. Many plans are like school projects- then again some school projects have become major successes; (Fred Smith - Federal Express- Yale) The plan must be feasible.

With this short blog I will not attempt to describe the whats and whys and how's of a business plan but I will suggest that you get yourself quiet with a note pad and begin again. Even if you have a plan, dust it off and revise it. This is not a goal setting exercise. It is a business plan.

You will discover that you will work with more control and direction and feel more confident in your daily work activities. I encourage you to write a business plan even if you have been in business for years.



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Doug Jones

Mortgage Broker - NMLS 286668
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