SERIOUS BEEZ 5
The business plan- Can we shift it?
What is a business plan? It is a document that explains what are the sales opportunities related to your new business projects. In this document you will tell which action plan you will set up in order to make the most of this opportunities and what does it mean financially.It consists in a point of reference for the entrepreneur and his team for the 3 years to come.
It is a document that you reconsider from time to time in order to update it and set up new goals.
Can we get of the business plan?
Shifting your business modele and change your concept along the way, many companies have been led to do it. In order to fight, a competitive environment, to seize a new opportunity or to push forward and improve a mediocre first idea. Shifting is a subtil art that you need to master. By dint of talking to bankers, experts, customers and suppliers, questioning is often unavoidable. The right word for it is to “pivot” that is make a structural course correction in your business plan. It can be in your price, functionalities, distribution channels, adding new services or different products.
To correctly “pivot” , it is necessary to have solid fondations, convictions and beliefs along with the capacity to listen to critics and feed backs from your different interlocutors.
This to continuously adapt your business. In the USA there is now a concept that is much talked about, the one of lean startup. These companies are testing regularly hypothesis, are confronting ideas to reality and base their development only with customer’s approval. They only lean toward the positive outcome without having direction or solid bases. Some lean start up are very much critiziced because they don’t have a good idea to start with, no values or DNA, and no coherent direction when it comes to new decisions. Pivot must be use rather to improve or complete an offer. The aim is not to behave like a wind vane, you would lost your customers but rather to fine tune, to test and to modify your project.
Guilhen Bertholet, manager at Invox (a Content Marketing Agency) explains us ” fostering a vision needs to be done with a long term approach, a certain serenity in the thinking that can’t be part of a Lean startup process”
As a business entrepreneur, you need to be prepare to shift and to evolve within the environment you are in.
Think out of the box, in a creative way because on the field, things change faster and faster according to the new technologies current pace. The life of a start-up and the one of his founder are by definition bumpy. To pivot is the very foundation of the entrepreneur state of mind and the key to success in starting your activity.
From the beginning, you need to inject a little bit of mental agility and flexibility in your company’s DNA in order to guarantee in a first place its survival and then its success.
It’s up to you to be an excellent forward thinker, to question yourself in order to take a decisive turn at the right time. All of that by keeping this passion that raise you up !