186 | HOW TO WRITE A BUSINESS PLAN
Axiom: The business owner constantly makes
small corrections to keep the business on course.
The business may fail if the owner falls asleep at
the wheel. Complacency kills.
Advice: Establish an information system that
lets you know when the business goes off course.
You may also choose to have an experienced
business consultant review your business
periodically.
You May Be the Problem
and Not the Solution
“To live is to change, and to be perfect
is to have changed often.” (John Henry
Newman, as quoted in First Data Resources
ad in Credit Card Management, January
1992, Volume 4, Number 10.) Unfortu-
nately, most people aren’t very good at
analyzing their own strengths and weak-
nesses objectively and then changing their
behavior to compensate. They just go
ahead doing what they’ve always done,
regardless of the outcome.
Many businesses are started by people
who are very good at a skill that people
demand. But many of these people know
little about the complexities of starting and
growing a business and can be hurt badly
by their lack of knowledge about basic
management skills.
Axiom: Everybody has blind spots. Your blind
spots can determine whether your business will
succeed or fail.
Advice: Ask a friend who knows you well
where your blind spots are. You can’t afford not
to get help if they are critical.Plan Beyond Opening Day
To illustrate the importance of planning
for the operation of your business after it
opens, I’d like to share the experiences of
Molly, a friend and former student, who
wanted to open a bath supply shop. Molly
encountered a long series of depressing
obstacles on the way to getting the money
to open her business. But since she was
both stubborn and a fighter, each setback
made her even more determined. In truth,
before long, getting the necessary money
had become an obsession. Finally Molly
succeeded. Unfortunately, at this point
she became strangely lethargic. Molly had
put an enormous push into opening her
business, but she hadn’t prepared herself
for the gritty day-to-day realities of owning
a business. Now Molly lacked energy,
innovative ideas, and the knowledge of
how to compete in a changing market-
place. Her business closed in 12 months,
which was just about how long it took to
start it. She lost a lot of money and a lot
of pride.