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Coach for Women Over 40 Says Have a Vision, Skip the Business Plan

Share Your Story: The Business Plan: A Relic or a Necessity for Today's Entrepreneur?

By annronan

Name, title, company, website

Ann Ronan, Ph.D., founder, Authentic Life Institute

Describe your business

Coaching for women over 40 who want to have home based businesses.

Do you have a written business plan?

Nope. I didn't need bank funding as my home based business has very little overhead. I did write out a vision of what I wanted my life and work to look like. Within a year, everything in my vision statement had come to pass! I vote no on a biz plan for most businesses.

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

I read my vision statement almost daily and rewrite it twice a year. I use it to keep focused on actions that are in alignment with the life I want to have and the skills and talents I enjoy using most.

Advice

  • I advise people to write out their vision statement using as many words related to their senses as they can. For example, what does your best workplace look like, what do you see out your ideal office window, what are you listening to, etc.

Mitchell York, About.com Entrepreneurs, says:

I agree on the vision statement. You may want to check out Keith Ferrazzi's Relationship Masters Academy, which includes excellent instruction on what he calls a "becoming" statement, focusing on what you are committed to becoming and in what time frame.

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