Do you work on your business as much as you work in your business? Do you ever dream about having a good lifestyle but just haven't quite figured out what to do about it. Have you ever thought about seeing what your business would need to do to give you those dreams? Developing a growth business plan could be the answer. So, why should you make a growth business plan? Well in simple terms you need to know where you're going and how and when you're going to get there.
When you, and your partners if any, have all the core skills and industry knowledge you need to start right away without seeking experts, napkin notes may be enough to get going. Let's say you are already an expert in technology and social media. Then you, and your team, probably don't need a detailed plan to start developing a new app. You will draw on your knowledge and experience, and you understand that you might need to go back and do some more detailed and formal planning later. Certainly when you reach the point where you are looking for investors or lenders, you will move beyond those first casual notes. Until then, drawing upon your expertise can allow you to quickly jump into the market and perhaps gain a competitive edge by using a minimalist plan.