Business plans - why don't they work?

When I talk to business managers and owners it is often when their businesses don't do too well. When I ask if they have any plans for their business oftentimes I hear "yes, we have a business plan".

No wonder they are not doing to well...

It is important to understand - a business plan is not operational. It is an analysis of the business, both internal and external, covering areas such as business structure, the founders, management team, product, competitive analysis, and financial forecasts.

Usually written for a new business and/or when seeking finance (investment or loan), it is does not say how the business is going to match the forecasts. For a new business it is no more than wishful thinking, because very little is known at the time of writing.

In order to achieve anything of value, let alone substantial growth there is a need for a practical plan, one that is based on reality, not forecasts, and is accompanied by an implementation schedule.

The answer is STRATAGILITY®.