There is a myth that only startup businesses who seek funding need a business plan. Small business owners also believe that they can keep their plan in their head or they’re too small to need a plan. Call it a business plan, strategic plan, annual plan, or operational plan. The name doesn’t matter as much as how you use it and implement it. Here are two reasons a plan is important: 

Guide Your Growth: To grow a business, you will need to plan, practice and persevere. A plan helps you set priorities and manage your growth proactively. It helps you plan thoroughly and get organized. Strategy gives you focus, helps you decide where you need to focus your resources, and keeps you doing what’s most important. It allows you to be proactive in your offerings, reach your target market and keep ahead of the competition. And it helps you use your time efficiently and run the business smoothly. 

Delegate and Inspire: As your business grows, you may need to free up your time from the daily grind and focus on growth. A plan can set the tone for your business, set the procedures that need to be followed, assign responsibilities, and give your employees clear direction. It can be used to inspire your personnel to follow your vision. It can be used as a training tool and to track their progress so you can continue to stay on target. Planning is an ongoing process. If it’s organic, it will change over time as your business changes, grows, and you learn what is best for your business’ success. Set regular time aside to set goals, look at what’s running smoothly, and make decisions on what your next actions will be.