Business Plan

I think most business plans are far too complicated. My first reaction to seeing most entrepreneur's plans is "Woah... that's a lot".

Five years ago, I thought a business plan had to be no less than 50 pages and look like a Fortune 500 10k.

A little experience (aka mistakes) and a lot of advice have reshaped my definition of a 'business plan'...

For most solo businesses, a business plan is a formal way to say "Here are the bets I'm placing about what I'm doing now and what I'm doing next".

Ideally, it's a living roadmap that aligns your energy with your vision.

With the speed of AI and the way the marketplace is changing, having a detailed plan longer than 12 months produces a hazy forecast (at best). Humans are notoriously bad at predicting the future because the past has shaped our pattern recognition and we're usually more concerned about the present.

Personally, I generate a broad plan 12 months out but focus my attention on 90-day chunks. I aim to set 3-5 key objectives for the next quarter, and create manageable milestones that keep me on track. This gives me direction in the long term, but allows me to pivot in the short term when needed. (Thanks to EOS for this model)

TLDR: Plans can powerfully align our day-to-day energy with future vision. More than any "how to", I encourage folks to have a planning philosophy that works for them. It should be clear enough to take action to start, but not scripted enough that you can't afford to smell the roses on the way.