The True Cost Of Not Having A Clear Business Plan

As we head into 2015 I’ve been pondering why a lot of small and even mid-sized businesses fail to reach their full potential. Here is one startling fact:

“People who regularly write down their goals earn nine times as much over their lifetimes as people who don’t. Yet less than 4% of people write down their goals and less than 1% of people review them on an ongoing basis.” ~ Dr. David Kohl

That’s right. On average you will earn 9x more over your lifetime.

Business person with no plan, overwhelmed and needs help

If you make $50,000 per year in salary it takes you 20 years to earn $1 million. People with plans will make $9 million over that same period of time.

For many, to achieve this kind of wealth accumulation, this means running and growing a successful business.

Yet how many people end up selling their business for way less than a million dollars; maybe only a few hundred thousand. A far cry from nine times the average. Here is one big reason:

“I discovered more than 80 percent of business owners don’t have a business plan or a strategy for their business.” ~ Evan Carmichael

We’ve been in business over 14 years. During the first half of that time, we often fell into this category. We were reacting to the market. Trying to find opportunities without a concrete plan or destination. So we understand why you might not either.

We did pretty well: we implemented a lot of great software projects for clients; helped people understand their business systems; launched a cloud based tool (PenForms) and captured over 50% of that market… and we are still in business.

But I can’t look back over that period and say we achieved our full potential.

How about you?

Over the last 5 years, I realized that so many business owners are struggling to keep their business growing and building and executing a great strategic plan was just not in the cards for most.

This is why we created the Manifast Business Success System. To change the game for business owners who really want to grow; to reach their full potential without killing themselves.

Some Great Options For Your 2015 Business Growth

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By | 2017-04-03T11:02:38+00:00 December 2nd, 2014|Categories: Business Strategy, Manifast|

About the Author:

Doug Wagner is an entrepreneur, President and Co-founder of Sunwapta Solutions. Sunwapta's mission is to help businesses transform from surviving to thriving, sustainable growth. From strategy to implementation, this means marketing, sales, managing your brand and delivering consistent value. Get more clients and keep them.