One of the most important things any business owner can do is to establish the company’s direction and then keep it on course. But, this is no mean feat! It is so easy to get bogged down in ‘to do’ lists, details and daily tasks, rather than focusing on the big picture.
Don’t get me wrong… I’m great with lists, time management and all the rest in order to run efficiently and keep up to date with all my projects. However, taking time regularly to think critically about my business as a whole, about where I am today and how I’m going to get to the next stage in my development, is also really important. The E-Myth Revisited talks about working ON your business rather than IN your business as essential in this development. I’ve heard that dedicating one day/week to business strategy is a great starting point, but you must be disciplined and unwavering in your commitment.
As part of this, preparing a business plan is essential to help focus on the big picture, on what is next for your company. The business planning process forces you to look beyond your ‘to do’ list into the future and create a guide for your company’s future direction and success. It is a living document, changing, being constantly referred to and modified.
So yes, after 20 years practicing as an artist, and my first year working full-time in my business, I’m writing my ‘inaugural’ business plan! I’ve found that AbaF has really helpful resources including a business plan template and they are both arts-specific and concise, which works for me.
Wish me luck!
