1. Business & Finance

A Business Plan Sets the Course You'll Follow

Reader Stories: The Business Plan: A Relic or a Necessity for Today's Entrepreneur?

From Terrence Kelleman

Name, title, company, website 

Terrence Kelleman, Founder/Designer, Dynomighty Design

Describe your business 

A line of lifestyle products that mimic the modern urban lifestyle.

Do you have a written business plan? 

Yes. A business plan is more than a plan; it is an exercise that builds the ground work for success. Depending on the complexity of your business you might not need a huge 30 page document to seek investors but the work itself to develop a business plan sets a course for success that you could not achieve otherwise.

If you have a business plan, do you refer to it often? 

Yes. It becomes part of your everyday perspective on your business and affects many levels of decision making. Sometimes you need to reference your business plan to keep a fresh perspective on your direction and that is something that happens more on a monthly basis.

Advice 

  • Depending on the complexity of your business you might not need a huge 30 page document to seek investors but the work itself to develop a business plan sets a course for success that you could not achieve otherwise.

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