Starting a Business Plan Collaborative, Part 2

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Yesterday, we met the Bodacious Business Planners, 9 wedding professionals from across North America who banded together to work on their business plans.  Kate Miller, of Kate Miller Events, who heads up the group, gave us some great tips on how to start a business plan collaborative.  We’ve found that by joining others to achieve our goals we have higher likelihood of accomplishing them.

Kate has also expressed some of the challenges that the group has faced.  These are challenges that we ALL face in writing our business plans.  So, let’s work through some of them:

Challenge #1: Finding Time

We are business owners who work a gazillion hours doing a gazillion things, how in the world are we going to find the time to write a business plan?  Well, the answer is simple: you don’t do it in one sitting.  Can you commit yourself to 30 minutes a day?  I can.  You can too.

Do you think people write a book in one sitting?  Do people lose weight overnight?  Was Rome built in a day?  No, No, No.

Here’s a story… I have a HUGE project going on in my office right now.  6 years of invite design, 1 move from California to Washington, 2 years of Get Hitched Give Hope, 2 years of motherhood, 1 year of Sage Wedding Pros and 1 move from Washington to Florida have left me with a LOT of paperwork and things EVERYWHERE.  My HUGE project is filtering through all of this.

Here’s the problem: I can’t take off the week it would take me to fully clean and organize everything.  So, I am committing myself to 30 minutes a day.  That is all.  And, to make sure that I only spend 30 minutes, I set the timer.  The timer isn’t as much about running overtime as it is about making me feel better about starting this task daily, “Oh Michelle, it’s only 30 minutes.  It’ll be fine.  Just get it over with.”

Similarly with your business plan: commit yourself to 30 minutes a day.  Set the timer.  No interruptions.  And just do it.  It’s amazing what you can do with 30 minutes of uninterrupted committed time.

Challenge #2: Being Committed

Ahhh… yes… maybe the challenge isn’t time, but it is commitment.  Well this one is easy: are you committed to doing this or not?  You must choose.  You must decide.  You either want to do it or not.  And, make sure your partners are committed too.  Ever have a gym buddy that talks you out of going to the gym?  Yeah – that’s not a good buddy.  Find someone who is committed.

Challenge #3: Staying Motivated

Why do people procrastinate?  Often it is fear of failure or fear of not finishing… or, possibly the feeling of being overwhelmed.  There is this idea that writing a business plan is akin to composing a symphony.  But, in reality, writing a business plan is simple and not difficult.  ANYONE can do one.  And, it doesn’t have to be the great American novel.  Donald Trump talks about writing an 8 page plan.  Participants of The Simple Plan would tell you that they spent 2 days with us and knocked out their plan in one sitting.  The business plan is written for your success, for your purpose (unless you are seeking financing or investment).  Only you need to see it.  So get over the perfection and just start with the first step.

Here’s what you first need to do: envision what the result of your plan looks and feels like.  (For general information on what a business plan looks like, click here.)  Having a vision of a completed plan can be challenging.  It’s not like envisioning what I’ll look like 30 lbs lighter.  (Just like a supermodel, of course!)  But, maybe the completion of my plan signifies something else?  Maybe identifying my 5 year goals and my financial roadmap will make me financially free.  And maybe that financial freedom will enable me to travel for leisure more often.  Use that as motivation!  Envision what the chain of events will look like: business plan = roadmap for the future = financial freedom = trip to Bali!  Be creative!

OK, Business Planners… Bodacious ones and the rest of you… go forth!  Build your plans!

NOTE: We’re having a contest this week…

Post a comment during any of our posts this week: Share with us something about your business, how you’ve collaborated with other pros, why you want to attend The Simple Plan, a tip for teamwork… let us know what you want to learn about business planning… anything… and we’ll pick one person at random.  The winner will receive a free ticket to The Simple Plan, Atlanta.  (We’ll pick a winner at random on Friday at 3pm EST.)