Tuesday, June 3, 2008

Criticism Could Be Your Key To A Better Business Plan

 Subscribe in a reader

I was watching a recent episode of CNBC's "The Big Idea". I really like the show as they always have a lot of inspirational and educational leaders from the business community. Hosted by Danny Deutsch, they do their best to provide a variety of differing personalities in regards to how you can succeed in business.

In the episode that I am referring to, they talked a lot about criticism and help from others. What they specifically were referring to is trying to get the points across that if you are an aspiring business person or entrepreneur, do not be afraid to seek help.

I have learned this in my own business. As with all businesses, I developed a business plan. I developed a model by which my company would run, how it would run, how it would profit and so on. After I finalized the plan I really wanted to know if my business plan was viable. In other words, is it realistic and are the numbers accurate or did I make a mistake with them just to appease myself with what I wanted to see.

So how did I finally realize my plan was a good one? Very simple, I obtained some help in the form of business critics. I contacted various members of S.C.O.R.E., the counselors to America's Small business. I contacted the specific members in my area who were experts and knowledgeable about business plans. I asked them if they would review my plan to make sure I covered all of the bases, and that the numbers were somewhat realistic.

In all I contacted about 50 members, of which, about 40 of them agreed to look it over, with the other 10 not being able to, due to either time constraints or they did not have the expertise in my area of business. What came next was a flood of valuable information that helped me enhance my plan.

I received phone calls and emails from all of the counselors with such criticism (both good and bad) that it propelled me to make changes and fine tune the plan. I was told to do more research on my marketing techniques and be descriptive, up through, how I needed to outline a more decisive exit strategy.

Historically speaking, I have never been one to take such criticisms. As a former software engineer, to be told what you are doing is wrong, or won't work, doesn't sit well with most people who have developed software for a living. Those in the same line of work know what I mean.

What I found from all of this criticism was such a great wealth of knowledge, that it helped me fine tune the plan, make it better, and have me realize that, yes, others do know more than me and are willing to share that knowledge.

If you are an aspiring entrepreneur or are already in business, and you need to find some ways to increase sales, employee productivity or a number of other things, get the help of those in business that are currently successful. Many times a set of eyes on something that are not emotionally attached to it will give you a more clear vision of where to go. Contact S.C.O.R.E. (www.score.org) counselors in your area. I know it helped me, and I am sure it will help you also.

By: Bruce A. Tucker

About the Author:
Mr. Tucker is the Associate Director of http://www.Indocquent.com, an online advertising and social network medium where you can promote your business, products or services without pay-per-click prices or auction fees.

Published By: Indocquent.com- An online resource where you can promote your business, products and services around the world.

No comments: