Bad Business Advice

Feb 21, 2018

Just Because It’s A Movie Line …

It doesn’t mean it’s business advice.  The line I’m thinking of is “If you build it, they will come.”  In the movie, Field Of Dreams, the spirit of that line is that if you build something, it will be used.  This line is sometimes translated into business advice that I don’t think is accurate.

The truth is, if you build it, you will pay for it.  If you build it, promote it, hustle and work your butt off, they might come.  Putting up a sign on a storefront or launching a website doesn’t mean that people will buy what you are selling.  There are many things that go into making a business successful and one thing I know for sure is that having a plan is one of the first steps.  

 So maybe the quote I’ll share is:

If You Make a Plan, You Can Follow It

A business plan includes a lot of important details.  It will outline what product(s) or service(s) you are selling, how it’s created, what the costs are, how you will sell it and for how much.  It shows the profit margins, potential profit and a growth plan.  More importantly, I believe I business plan should start with your mission, vision and values.  You need to know WHY you are doing what you are doing.  This is a topic I’m really passionate about, so feel free to check out my post, Know Your Why for more on that subject.  

As a business owner, various opportunities will come your way so it’s important to be clear about what you are trying to achieve so you can measure these opportunities against your plan.  Not everything that comes your way is a good fit or a good idea.

Your Plan Needs To Include People

With business plans we typically think about the things in our business but what about the people?  This is a huge part of a business and something that needs to be considered just as closely.  

Take for example, real estate teams.  Over the years I’ve seen various teams come together and fall apart.  We’ve had people come and go from our team too.  Usually, it comes down an alignment (or misalignment) of values.  So it’s worth it to consider who you want to work within your business and what values you want to share with them.  This can apply to employees, contractors or partners.

Take the time to write a plan for your business and get clear about what you are doing, how you will do it, measure it and who will be involved.  The clarity that a business plan provides will bring you much more success than just hanging a sign or launching a website with no plan at all.

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