0
7 reasons why your
business plan will fail
!
!

(and what to do about it)
First, let’s
agree on
one thing:

Photo by: Jon Yates Creative Commons: Attribution license http://www.flickr.com/photos/95...
Plans work
Without a plan everything looks important and you
burn yourself out chasing "big opportunities.”
Without a plan...
He has a plan
Business innovator and
philanthropist, Elon
Musk left PayPal to
launch Tesla Motors,
SpaceX and SolarCity
an...
So does he
Craig Kielburger, cofounder of Free the
Children and Me to We,
uses social
entrepreneurship to
enrol a massive ...
So does she
Sheryl Sandberg, Facebook’s
COO, gained instant
celebrity (#6 on Forbe’s list
of “World’s most powerful
women”...
So does he
Blake Mycoskie, founder
of TOMS shoes,
popularized “one for
one” where for every
pair of shoes sold a pair
is g...
Your plan needs to be
simple
(like a cake)

Photo by: HolyCalamity Creative Common Attribution-ShareAlike license http://w...
A basic recipe for your plan
1. My mandate (what problems do I solve?)
2. My markets (who are the people/businesses I
serv...
But even with a plan
you can still screw it up.
Here are 7 reasons why your plan might fail
(and what to do about it)
same plan, different year.
Every year you have a chance to think bigger,
challenge yourself more and succeed better.
It’s ...
same plan, different year.
Every year you have a chance to think bigger,
challenge yourself more and succeed better.
It’s ...
Analysis paralysis.
In-depth analysis of past results is great if you
are fine-tuning a successful business.
But sometimes...
Analysis paralysis.
In-depth analysis of past results is great if you
are fine-tuning a successful business.
But sometimes...
No stretch goals.
Stretch goals challenge you to find solutions, see
opportunities, and be effective with your time.
If yo...
No stretch goals.
Stretch goals challenge you to find solutions, see
opportunities, and be effective with your time.
If yo...
overbuilt plan.
Creating a big, detailed document that you
never look at again is just an excuse for not
getting started.
...
overbuilt plan.
Creating a big, detailed document that you
never look at again is just an excuse for not
getting started.
...
no break down.
Big goals are great, but you need instructions.
Every major goal needs to be chunked down
into achievable t...
no break down.
Big goals are great, but you need instructions.
Every major goal needs to be chunked down
into achievable t...
The plan on a shelf.
Your plan should be a living document that gives
you direction and let's you know if you are on
track...
The plan on a shelf.
Your plan should be a living document that gives
you direction and lets you know if you are on
track ...
no rewards.
We are all motivated by rewards. Your plan is
no different.
Working harder, smarter, or even less has to be
ma...
no rewards.
We are all motivated by rewards. Your plan is
no different.
Working harder, smarter, or even less has to be
ma...
The 7 questions to ask
1. Twelve months from now, what do I want to celebrate?
2. What key measures give me enough informa...
Photo by: D. Schille Creative Common attribution license: http://www.flickr.com/photos/44307584@N05
THE REAL VALUE OF A PLAN
Is THE PLANNING PROCESS.
Block the time, brainstorm, challenge
assumptions, and allow your plan t...
Get a copy of Hugh Culver’s free book “Grow your expert
business-7 success strategies for growth, wealth and
influence as a...
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7 reasons why your plan will fail (and what to do about it)

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Learn the seven reasons why most business plans fail and what to avoid. Author, speaker, and professional facilitator, Hugh Culver shares powerful questions to ask yourself to avoid these mistakes. You will also get a proven one-page business plan template to use for your next plan (or to replace the one you just made).

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Transcript of "7 reasons why your plan will fail (and what to do about it)"

  1. 1. 7 reasons why your business plan will fail ! ! (and what to do about it)
  2. 2. First, let’s agree on one thing: Photo by: Jon Yates Creative Commons: Attribution license http://www.flickr.com/photos/95163523@N00
  3. 3. Plans work Without a plan everything looks important and you burn yourself out chasing "big opportunities.” Without a plan you lack direction and focus and have no way to measure progress (you can only measure what happened, not progress you are making.) Basically, without a plan you’re planning to fail. Photo by: Andrey Zeigarnik Creative Commons Attribution license http://www.flickr.com/photos/12643722@N08
  4. 4. He has a plan Business innovator and philanthropist, Elon Musk left PayPal to launch Tesla Motors, SpaceX and SolarCity and continues to make news as he aggressively explores hi-tech solutions for old world problems.
  5. 5. So does he Craig Kielburger, cofounder of Free the Children and Me to We, uses social entrepreneurship to enrol a massive worldwide following and fund charitable work in 45 developing countries.
  6. 6. So does she Sheryl Sandberg, Facebook’s COO, gained instant celebrity (#6 on Forbe’s list of “World’s most powerful women”) with the women’s movement created by her 2013 best-seller "Lean In: Women, Work and the Will to Lead."
  7. 7. So does he Blake Mycoskie, founder of TOMS shoes, popularized “one for one” where for every pair of shoes sold a pair is given to an impoverished child. His idea has inspired other brands to invest in social giving models.
  8. 8. Your plan needs to be simple (like a cake) Photo by: HolyCalamity Creative Common Attribution-ShareAlike license http://www.flickr.com/photos/toyochin/1382531438
  9. 9. A basic recipe for your plan 1. My mandate (what problems do I solve?) 2. My markets (who are the people/businesses I serve?) 3. Products & services (research, development, pricing). 4. Marketing goals and campaigns (media, social media, client list). 5. Administrative goals (office, systems, staff, outsourcing). 6. Financial projections by service/product.
  10. 10. But even with a plan you can still screw it up. Here are 7 reasons why your plan might fail (and what to do about it)
  11. 11. same plan, different year. Every year you have a chance to think bigger, challenge yourself more and succeed better. It’s like your home: why settle for new paint when you can have a better house? Photo by:Leigh Schilling Creative Common Attribution http://www.flickr.com/photos/leighschilling/3870493758 1
  12. 12. same plan, different year. Every year you have a chance to think bigger, challenge yourself more and succeed better. It’s like your home: why settle for new paint when you can have a better house? “ Ask yourself: Twelve months from now, what do I want to celebrate? ” Photo by:Leigh Schilling Creative Common Attribution http://www.flickr.com/photos/leighschilling/3870493758 1
  13. 13. Analysis paralysis. In-depth analysis of past results is great if you are fine-tuning a successful business. But sometimes getting started with a good plan and is more important then a perfect plan delivered late. 2
  14. 14. Analysis paralysis. In-depth analysis of past results is great if you are fine-tuning a successful business. But sometimes getting started with a good plan and is more important then a perfect plan delivered late. “ Ask yourself: What key measures give me enough information to build a good plan? ” 2
  15. 15. No stretch goals. Stretch goals challenge you to find solutions, see opportunities, and be effective with your time. If you want big results this year, you need some tension between where you are at and where you want to be. 3
  16. 16. No stretch goals. Stretch goals challenge you to find solutions, see opportunities, and be effective with your time. If you want big results this year, you need some tension between where you are at and where you want to be. Ask yourself: “ What is (at least) one scary goal I am ready to make happen this year? ” 3
  17. 17. overbuilt plan. Creating a big, detailed document that you never look at again is just an excuse for not getting started. The trick it to create a meaningful, road map of what you are going to create with realistic milestones. And no more. 4
  18. 18. overbuilt plan. Creating a big, detailed document that you never look at again is just an excuse for not getting started. The trick it to create a meaningful, road map of what you are going to create with realistic milestones. And no more. Ask yourself: “ What are the essential ingredients I need to get clear directions? ” 4
  19. 19. no break down. Big goals are great, but you need instructions. Every major goal needs to be chunked down into achievable tasks. 5
  20. 20. no break down. Big goals are great, but you need instructions. Every major goal needs to be chunked down into achievable tasks. “ Ask yourself: For every major goal, what do I need to complete (and by when) to achieve each milestone? ” 5
  21. 21. The plan on a shelf. Your plan should be a living document that gives you direction and let's you know if you are on track and making progress. Create a habit of revisiting your plans every week and then adjusting your goals for the following week. 6
  22. 22. The plan on a shelf. Your plan should be a living document that gives you direction and lets you know if you are on track and making progress. Create a habit of revisiting your plans every week and then adjusting your goals for the following week. Ask yourself: “ When I revisit my plan every week, what do I need to get valuable direction? ” 6
  23. 23. no rewards. We are all motivated by rewards. Your plan is no different. Working harder, smarter, or even less has to be matched with a reward that motivates you and has a pay-off. 7
  24. 24. no rewards. We are all motivated by rewards. Your plan is no different. Working harder, smarter, or even less has to be matched with a reward that motivates you and has a pay-off. “ Ask yourself: When I am successful, what is the win for me, my family, and my team? ” 7
  25. 25. The 7 questions to ask 1. Twelve months from now, what do I want to celebrate? 2. What key measures give me enough information to build a good plan? 3. What is (at least) one scary goal I am ready to make happen this year? 4. What are the essential ingredients I need to get clear directions? 5. For every major goal, what tasks do I need to complete (and by when) to achieve each milestone? 6. When I revisit my plan every week, what do I need to get valuable direction? 7. When I am successful, what is the win for me, my family, and my team?
  26. 26. Photo by: D. Schille Creative Common attribution license: http://www.flickr.com/photos/44307584@N05
  27. 27. THE REAL VALUE OF A PLAN Is THE PLANNING PROCESS. Block the time, brainstorm, challenge assumptions, and allow your plan to develop. And then stop. Now it’s time to put your plan into action, get focussed, and start creating results. More time might make your plan 5% better, but starting now could be a 100% improvement. It’s your plan, it’s your time. Now make it happen.
  28. 28. Get a copy of Hugh Culver’s free book “Grow your expert business-7 success strategies for growth, wealth and influence as a speaker, seminar leader, author, or coach.” www.expertsenterprise.com
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