Business Plan B
SHOULD A BUSINESS HAVE A PLAN B?
Business Plan B
Some things just don’t turn out the way we planned. Best laid plans and all.
The same goes for business.
That idea we conjured up one late night over several glasses of wine and a constructive brainstorming session, may very well not be the business you end up with.
BUILDING YOUR BUSINESS PLAN
As you build your business plan and put all your ideas, target markets, products and services, competitor and financial projections down on paper, you may find a variant business taking shape.
Perhaps the idea you originally had is evolving?
Perhaps now you are conducting your research, looking at your figures and you are reconsidering your options?
Perhaps a secondary idea is forming behind the scenes…
HAVING A PLAN B
Having a Plan B is not just a handy alternative – it’s good business. Whether you are in the planning stages your business, are looking to launch or have been operating for some time, it is wise to have an exit strategy should things not go to plan.
Having a secondary option up your sleeve – whether it is an add-on to your existing business or a completely new venture – is always a benefit.
Sometimes it takes a few practice shots before you score the goal.
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