What is a business plan?
It is like Google Maps with best route suggestion
“Plan” — is a word that has more meanings than we can count. An action plan, a floor plan, a trip plan, a day-to-day plan, a review plan, a future plan. We often do an inventory for our day by understanding our aim, setting deadlines, objectives, and a list of things prioritized to be completed. What we are actually doing is formulating a plan on how to tackle that day. If you feel unproductive at times, do not go into self-pity or self-criticism. It will waste more valuable time and energy. As we can see, planning is something we do all the time, knowingly or otherwise
Here, the type of plan we are discussing is a business plan. A business plan is a map of your corporate operations that helps you evaluate and analyze the routes and pathways you can take to reach your desired destination. It helps you to fulfill your company goals and achieve the collaborative vision that you and your partner have established together.
Recall Benny? He is very substandard at making travel plans. If you ask him to choose between two almost similar paint sets, he will choose almost automatically. But if you ask him questions like which mode of travel to opt for? What and how much to pack for a particular journey? How to time it, what to do once the destination arrives? Which places to explore, how to cover as many experiences as possible? Well, you can see the anxiety on his face with his left eye twitching while his lips search for an answer. It is quite a terrible sight, and they never give him choices out of his domain. But you see Neha, his partner, is from a management and customer service background. She is “the Monica” of organizing trips, meetings, schedules, etc., and is efficient at making plans.
While making travel plans on paper is easy to do, they may not always be so smooth in execution. At that point, you must think on your feet and improvise to reach your destination. Remember that the journey is just as important as the destination. The people you meet and the places you see along the way are what make your travels enjoyable. Sometimes you might choose the easy way, and sometimes, time might take its trials. But when you reach your cumulative goal, you will not be clueless. Needless to say, it involves a lot of research. In the same way, a business plan is not only about reaching a target but about the directions you take to reach it. Your journey will define your company and help your plans take shape.
It is also important to know what to do after your current targets are achieved. Your business plan is built and shaped by the paths you take. Your learnings along the way now will define your next plan of action. This process will continue as long as your company is running, and your business plan will keep evolving at every step of the way.
So, ask yourself, how will you measure your success? What is your company’s ultimate goal? Is it money, fame, success, development, social well-being, or climate security? What are your principles and the essence behind your company? Remind yourself of all the reasons behind that ‘buzzinga’ moment and the targets you will put in place after accomplishing your prior set of objectives.
Remember, time is valuable and it does not stop for anyone. It is the only thing at present that has the power to shape your future and remind you of your past. This will make your present-day choices more precise. A business plan is also based on a time period. Whether it is one year or five years, it has a starting point and one or many destinations and possibilities, with several doors and roads to reach there. It details the operations of your business that will benefit it to reach its next checkpoint. Learning business lessons in due course of time is not about making your company perfect but about seeing your organization as it was meant to be. Keep your learnings from each checkpoint with you because it is this reflection and evolution that will make your plan a success.
Next, we will discuss why you need to write down your business plan.
About the Writer
Anchal Srivastava is an architect, urban planner, writer, researcher and scholar. She is a certified GIS specialist from IIRS, ISRO, Dehradun. She is a graduate of the School of Planning and Architecture (SPA), Delhi and Dr. A.P.J. Abdul Kalam Technical University (APJAKTU), Uttar Pradesh. She has experience working at the Town and Country Planning Organisation Delhi, Jabalpur Smart City Limited, Suresh Goel & Associates (SGA), APS Green Architects & Associates, and as the head architect at SSAP and Shantiniketan Buildtech Pvt. Ltd.
About the Editor
Nidhi Joshi is a writer, architect, and artist. She experiments with art, calligraphy, and all things Interior Design. She is a graduate of the Bharati Vidyapeeth College of Architecture, Mumbai. She has experience interning at PG Patki Architects.
About the Illustrator
Priya Bansal is an architect and a generalist, currently based out of Delhi NCR. She is a graduate of the School of Planning and Architecture (SPA), Bhopal. She has experience working with Studio Juggernaut.