Business is a crazy wave of detours and if you come in with a conditioned mind and a plan you are bound to fail.
In business you’ll need both your intellectual capability and emotional to be able to prepare the mind for the best and the worst.
While a business plan is to prepare you for business and it caters for some of your strength, weakness and opportunity in the industry of choice.
It can also damage your coping abilities. It has been stated often that most SME’s die before their fifth birthday and I think some of the dead SME’s die because of this.
Our minds are very tricky organs, if you train it and prepare it for success; it may not prepare itself for the shocking setbacks that business involves.
Like delayed supplies, having bad debtors, low seasons and sometimes customers losing interest in your product so you’ll need to go back and re-invent it which adds extra costs.
Crazy taxes and rent increments may all come out to fail you that is why you need to suck more on your creativity to stay in the game than on your business plan because business plans cannot clearly predict which month brings in few customers and which brings in more customers due to changing trends.
I have a formidable friend of mine who runs a public relations and advertising company and this is what she had to say about business plans.
After seven years of operation I asked her, Brenda do you have a business plan. She laughed out loud and said no.
I asked her why? She then told me when she was starting out she had a business plan which drew in people and they partnered with her but when the business wasn’t working as they had seen in the business plan it was so hard for them to imagine sticking out hard till they found a solution.
They cashed out after 6 months and she was forced to close business for two months.
While depressed and without any ideas on how to rise back again, Brenda decided to raise capital and get back in the game without a business plan to see how she fares.
I guess her plan worked out well because she has stuck out for long and says the game of business is quite different from what most financial advisers put out there.
Business plans are so crippling, she says, you cannot wake up in the morning and decide to innovate in a particular way or move into a new product because yet again you’ll have to develop a new business plan before you venture which consumes a lot of time and business time moves at the speed of social media.
“A business plan will close you in and your business within the boundaries that you planned for. It will satisfy your mind and the worst thing that can happen to creativity is satisfaction and contentment.
You don’t grow, you don’t improve. You become stagnant and nothing good comes out of stagnant water except for mosquitoes” she said.
You will deliver according to what it says and not what you really want.
My word is, follow your inner voice, risk hard, play harder, keep loss in mind and the death of your business.
Once you have that at the back of your mind innovation will become easier and you’ll have a flow of ideas every month.
Brenda Namutebi is the founder of Ibrand and works with various organizations like Victoria University, Cancer Institute and many more.