Business Success Strategy - The Importance of a Simple Business Plan

Business Success Strategy – The Importance of a Simple Business Plan

You should be able to distill your business plan onto a single sheet of paper. In fact, Business Optimization Strategist, Stephen Pierce says: “If a person cannot synthesise down to one piece of what is required of you to become successful then they probably don’t know what the heck they’re talking about.”

Two multi-millionaire Internet Marketers have taken this concept a stage further. Forget about a single piece of paper. They are able to write their basic business plan on a napkin.

A billionaire business man once handed Matt Bacak a napkin and asked him to write out his business plan. Matt Bacak started to unfold the napkin but the business man shook his head. He helped Matt Bacak to condense his plan to just one corner of the napkin and the result is that he now regards his laptop as his ATM machine.

In 2006, a friend challenged Ryan Deiss to write out his entire business model on a single napkin – not one to shy away from a good challenge – Ryan Deiss obliged.

Right on the spot, in the bar at the Hilton Anatole in Dallas, Texas he drew out his business model. It’s a business model that has earned Ryan Deiss many millions of dollars and what he refers to as his “Million Dollar Napkin”.

Now, naturally, you will need to flesh out your basic business plan so that you understand the details of what will make your business successful as well as being able to use your this document to raise capital, to recruit board members and to attract business partners. However, even then, you don’t need to write a tome of information.

When individuals are faced with a big, thick document they become overwhelmed. The individuals who will need to read and refer to your business plan, and that includes you, are busy people. They want information presented to them in a manner that they can quickly and easily digest so that they can make timely decisions regarding the information they have read and take appropriate action.

As a business owner you will need to do the same. If you make your business plan too complex instead of being a work-in-progress that you refer to, update and refine on a regular basis, it will be a document that just gathers dust. An overly complicated plan is therefore counterproductive.

There is another drawback to having a long, over complicated rather than simple business plan. Such a document is likely to be very costly to produce from both a time and financial perspective. Remember, no business environment is static. If you take too long to produce your document it’s likely that key elements of the information presented will no longer be relevant.

Another reason to stick to a simple business plan is so that your employees and team members do not feel intimidated by it. Their buy-in and understanding of the plan is as important as yours because they will be working with you to make your vision a reality.


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