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Do I really need to plan my business?

by

coachinggenie.com

I have a love and hate relationship with planning my business.

On one hand, it feels very daunting and arbitrary. With things changing all the time, who knows what my life will look like next year?

I love going with the flow, listening to my heart, staying super flexible, and following whatever ideas inspire me.

On the other hand, I love the idea of planning out my revenue streams. I am not talking about a business plan – the kind you might present to a banker to get a loan. I am talking about deciding which products, programs, and events I’ll be offering in the next 12 months.

After I sold my previous business, I truly resisted planning.

For the first time in years, I had no tight schedule, no “musts” or “have-to’s”, and it felt very freeing. So I didn’t want to put myself back in a place where I had to hit goals, hustle, or put pressure on myself.

But after a while, I discovered that there are certain things I couldn’t do without a plan:

  • I couldn’t get JV partners (most partners require 6-12 month notice)
  • I didn’t feel confident and at peace about where my income will come from
  • My team couldn’t plan their time, vacations, and income – not good leadership

As a result, I found myself working too hard because I didn’t know how much I should be working to produce enough revenue to sustain myself and my business. So, although I truly value freedom and going with the flow, ironically I found myself experiencing the opposite.

That’s when I decided to create a simple plan that will now guide my daily actions and weekly focus, and keep the distractions away.

Coaching questions for you:

  • Do you have a plan?
  • Do you know how you’re going to make money in the next 12 months?
  • Does it give you peace of mind?

 

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