Area Specialist Laguna Beach & Aliso Viejo CA: WHY A BUSINESS PLAN? BY RIEVA LEVONSKY VIA: LAUREN SELINSKY~

WHY A BUSINESS PLAN? BY RIEVA LEVONSKY VIA: LAUREN SELINSKY~

MEMBERS, BLOGGERS.... I KNOW. I KNOW. I KEEP PUSHING THE BUSINESS PLAN!!! AND AFTER TELLING CHARITA CADENHEAD, www.activerain.com/chcadenhead TO SPREAD THE WORD TO INSPIRE OTHERS TO GET A BUSINESS PLAN & ALL THE NEWBIES IN THE BUSINESS, SHE INSPIRED ME TO WRITE ANOTHER BLOG AND INCLUDE MY RESOURCE OF MY DATA.

SUCCESS RATE OF INDIVIDUALS

CRS(R) SAYS,  65% SUCCESS RATE WITH HAVING A BUSINESS PLAN FOR REALTORS(R)

SMALL BIZ TRENDS SAYS, 64% SUCCESS RATE WITH HAVING A BUSINESS PLAN WITH ALL BUSINESS'S

SO, WHY? KEEP PUSHING??? YOU ARE ALL NOW MY NETWORK BUDS~ YOU SUCCEED, YOU COME ACROSS REFERRALS, MANY OF US REAP THE BENEFITS AS WELL........ AS I BLOG-GED IN PREVIOUS POSTS>>> FOLLOW LINK AND LEAVE YOUR EMAIL AND I WILL SEND YOU MY BUSINESS PLAN> INCLUDES MY FINAL BUDGET TOO ;) 

>>> OCLAUREN BLOG: FOR ASK ME FOR A BUSINESS PLAN>>>>

http://activerain.com/blogsview/2002129/do-you-have-a-good-real-estate-busines-plan-template-realtors-r-pay-it-forward-to-my-fellow-ar-s

DON'T BELIEVE ME, I AM JUST A LITTLE OLE' REALTOR(R) WITH A FEW DESIGNATIONS HERE IN THE WEST COAST, BUT GO WITH THE SURVEY THAT WAS DONE AND CHECK OUT THE WHY?????

SO, RESEARCHING AFTER GETTING MY CRS(R) DESIGNATION FOR THE RIGHT BUSINESS PLAN I RAN INTO THIS ARTICLE FROM NONE OTHER THAN, RIEVA LEVONSKY, President and Founder of GrowBiz Media, a content and consulting company that helps entrepreneurs start and grow their businesses. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America 's entrepreneurs for nearly 30 years. She blogs at SmallBizDaily

ARTICLE:

The value of writing a business plan is often debated in the entrepreneurial community.

For every successful business that was launched with a well-thought-out business plan, it seems you can find an equally successful one that was launched with nothing more than some scribbles on the back of a napkin. In fact, the contrarian approach may be the one you hear most about - i.e., entrepreneurs dismissing a business plan as something they wrote and then stuffed in the bottom of a drawer.

Palo Alto Software founder Tim Berry (a contributor here at Small Business Trends) recently reported on some new data showing the value of business plans.  Palo Alto did a survey that asked thousands of its Business Plan Pro software users questions about their businesses, goals and business planning. The responses showed that those who completed business plans were nearly twice as likely to successfully grow their businesses or obtain capital as those who didn't write a plan.

More success with a business plan

Tim gave this breakdown of the numbers:

2,877 people completed the survey. Of those, 995 had completed a plan.

  • 297 of them (36%) secured a loan
  • 280 of them (36%) secured investment capital
  • 499 of them (64%) had grown their business

1,556 of the 2,877 had not yet completed their plan.

  • 222 of them (18%) secured a loan
  • 219 of them (18%) secured investment capital
  • 501 of them (43%) had grown their business

Of course, as author of the original Business Plan Pro software program and founder of Palo Alto Software, Tim admits he's a little biased in favor of business plans.  And people who respond to a survey by the company that made their software may be biased in favor of saying good things.  So Tim had the University of Oregon Department of Economicsassess the validity of the data. Eason Ding and Tim Hursey wrote a report on the data with the supervision of Professor Joe Stone. "Results suggest that planning with software is highly correlated with subsequent successes for a variety of firms," they wrote.

Regardless of the type of company, the growth stage of the company and the intent for the business plan, Ding and Hursey's analysis found that writing a business plan correlated with increased success in every one of the business goals included in the study. These were:  obtaining a loan, getting investment capital, making a major purchase, recruiting a new team member, thinking more strategically and growing the company.

The authors concluded:

"Except in a small number of cases, business planning appeared to be positively correlated with business success as measured by our variables. While our analysis cannot say that completing a business plan will lead to success, it does indicate that the type of entrepreneur who completes a business plan is also more likely to run a successful business."

And if I correctly interpret the last sentence in the quote above, the act of going through the business planning process may make you a better entrepreneur.

So there you have it:  you're better off WITH a business plan than without one.    In fact, based on the survey, you are twice as likely to grow your business or achieve funding if you have taken the time to write a business plan.

SO, THERE YOU GO!! WRITE A BUSINESS PLAN!!!!~~

GOOD LUCK IN 2011!!!!

   

  your real estate broker lauren selinsky 

  

 CA COASTAL ESTATES

 LAUREN SELINSKY BROKER | DRE01329427 

PO BOX 956 CORONA DEL MAR, CA 92625

                                            c.949.310.4960 | t.888.908.7770

                                               laurenselinsky@GMAIL.COM 


   ActiveRain FacebookActiveRain TwitterActiveRain YouTubeActiveRain Google+ ActiveRain LinkedInpinterest lauren selinsky orange county realtor no 1

© 2019 Copyright CA Coastal Estates Lauren Selinsky

Comment balloon 11 commentsLauren Selinsky Broker CRS • December 15 2010 07:37PM

Comments

One without a plan...will not stand...

My motto.

Ginger

Posted by Ginger Harper, Your Southport~Oak Island Agent~Brunswick County! (Coldwell Banker Sea Coast Advantage) over 8 years ago

I am over here looking for that Pay it Forward Post! Will be back!!! LOL

Posted by Joni Bailey, Your Huntsville / Lake Livingston Area REALTOR® (101 Main St. Realty) over 8 years ago

Love your MOTTO Ginger! ;)

Joni~ I just posted it! Thanks sweetie... Check it out....

Posted by Lauren Selinsky Broker CRS, "Your Real Estate Broker" #oclauren (California Coastal Estates) over 8 years ago

Thanks Lauren, I rec'd the budget for your 2011 business plan.  you are one of the small percentage of agents that will actually do it...everyone talks about wanting to do so much, but unfortunately the follow through is weak.  Those with goals have a higher level of success and those with WRITTEN goals are off the chart...best to you in 2011 Lauren.

Posted by Brin Realty Associates Team At Bean Group, Amherst NH homes and Southern NH real estate (Bean Group | Brin Realty Associates) over 8 years ago

Thanks Lauren,  Just received your budget plan and it is one of the best I have seen You are great for sharing. I can't wait to start off the New Year with a Bang!

Beverly Beck  www.BeverlyBeck.com  Prudential Florida Realty  Stuart Florida

Posted by Beverly Beck about 8 years ago

Thanks Lauren!  Thanks for sharing your 2011 Biz Plan - they are great.  All the best for 2011.

Posted by Lori Williamson (Royal LePage Signature Realty, Brokerage) about 8 years ago

Rene' thanks for the comments... So, true, so CHEERS to us for heading off the charts!!! ;)

Thank you Beverly! & Lori!! Much success for your year... 2011~~~

Posted by Lauren Selinsky Broker CRS, "Your Real Estate Broker" #oclauren (California Coastal Estates) about 8 years ago

I have an older version (2002?) of the Palo Alto business Plan software. It is rather involved. I agree, having a plan and reviewing it, using it, and keeping it updated helps keep you focused.

Posted by Mike Mayer (Mike Mayer, Broker/Owner - i List For Less Realty, LLC) almost 8 years ago

Absolutely Mike~ it keeps me reviewing and making sure I am doing what I have planned for the year! Did you update yours for the year? Let me know if you want a copy. ;)

Posted by Lauren Selinsky Broker CRS, "Your Real Estate Broker" #oclauren (California Coastal Estates) almost 8 years ago

 

Great business plan with a lot of time placed in the details.  Very effective tool for any business or person in business for themselves. Thanks Lauren for being so willing to share.

 

Posted by Ron Luis over 7 years ago

We just finished a website to help entrepreneurs:

http://www.businessplantemplate.com/

The site includes nearly 50 free business plan templates and is growing each month.

Posted by Jennifer Akoy almost 2 years ago

Participate