- Posted by Alicia Monsalve 05 Jun
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Why you need a business plan
On a recent post from Wells Fargo video “Talking business” series, business expert Coco Soodek discusses the role a business plan can play in the success of a business. She explains how to make a business plan that really works for a particular business. Most importantly, she encourages businesses to revise their business plans in order to achieve new goals.
Here we present a summary of the ideas expressed by Soodek in her video:
“Draw it out on a piece of paper. Write what you’re selling, who you’re selling it to, who’s helping you do it, and how much money you need to get further. That’s it. That can be your business plan.”
“Use your business plan to determine whether your financial statements accurately reflect what you’re doing in your business, and also to evaluate how you’re doing based on these goals that you’ve got in your business plan.”
Many people get lost in this idea that they have to create a giant plan and then start executing on it immediately. That’s not actually how it works. The problem is nobody really teaches how to create a business plan.
Watch Coco Soodek’s Wells Fargo Talking Business video here.
Are you a business owner? Are you a business expert? Video blogs are an excellent way to present your business, your style, your ideas. Watch our video gallery. Give us a call to discuss video ideas for your business at (786)529-1430, or send us an e-mail: info@ByTheWaterMedia.com
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