Business Planning: Preparation Is Key

Preparation of efficient strategies will be necessary for success whether planning for a “lemonade stand”, or wanting to run the lemonade stand from your “executive suite”. Now that the symbolic foundation has been laid for business, one can begin conducting day-to-day operations. I am quite certain than many successful people would agree that a certain level of preparation was associated with their achievements. Had they not been prepared to sacrifice that of which would contradict their vision, they would have not achieved all their great accomplishments. In this article I plan on creating a visual to emphasize the importance of preparation in the world of business. Visualize this scenario.

A wealthy, successful, and influential Independent Business Owner is “away” on business. This entrepreneur has a lot that they are responsible for while conducting “market research” in the area. While checking their itinerary for the day, this entrepreneur’s phone rings. RING! RING! RING! “Hello” the entrepreneur answers. “Mr. (Ms.)_______, I hate to bother you, but I JUST HAVE to inform you of this Lemonade stand I ran across. It is the best lemonade stand in the land.” The business owner responds sarcastically, “If you are pulling my leg, I’m taking you off the payroll.” The assistant then replies, “I’m confident this is the best lemonade stand in all the land” Now depending on if you are the lemonade stand or in the executive suite, a few things can happen here.

If you laid the proper foundation for your business structure, and have realistic goals, your lemonade stand should be in a position to at least negotiate on a real world level to prepare a better future for itself. One who values this business opportunity will have all day-to-day operations accounted for, and documented clearly in their business so they can present a mutual investment plan despite being in their executive suite. The planning process is very valuable to management. The information collected can provide additional preparation which will assist with making solid predictions that should positively impact the business in the future.

If you are a business owner who is properly prepared to invest in or manage a lemonade stand, this should turn out well.

Preparation will ensure an individual has constructed a concrete business plan prior to this moment. Maybe your father owned a lemonade stand when you were a child, or you once worked at a lemonade stand years ago in high school. Nevertheless, You have a genuine love for seeing a product go to the next level. With all these strategies and field research you are prepared to become a pioneer in the industry. Now if you just want to be the type of business owner that has poor work ethic, this will not work. Say this business owner just wants a lemonade stand because they had a conversation with another business owner the other day, this could be a huge waste of money.

If we pull back the layers and see no research has been conducted, this business will have some serious issues. If this business entity is on “shakey” grounds, and is relying on a plan that could not assist persons to the nearest exit during a fire drill, bad things will happen. Ultimately, If a business is poorly built, and is relying on a plan that can influence a fiction novel, some important changes must occurs. One thing is for certain; being knowledgeable of your structure and having a solid plan is pivotal for success. By understanding preparation one also holds the key to creating value for your products or services. As a business owner remember time equals money; therefore, it must always be accounted for.