PSU Insight

Writing Your Business Plan

What To Do After You Write Your Plan

Writing your business plan can be a challenge. When will you be done? And when you're finished, what comes next?

Few speakers can shut down their businesses and devote their full attention to writing their business plans. Consequently, most speakers develop their business plans gradually, perhaps writing a few pages a week. At this pace, it could easily take a number of months to develop a detailed, fully-functional working business plan.

When you’ve finalized your business plan, what next? Once you’re pleased with your business plan, it’s no time to rest on your laurels. Do you have any trusted advisers? If so, show them your plan. If they’re not speakers, they may not understand the more detailed aspects of your plan; but they should nevertheless be able to understand your Business Summary and several other parts of your plan.

Whether you show your plan to trusted advisers or you keep it to yourself, you should regularly review your plan to make sure that you’re staying focused, and spending your time, energy, and money on the things that matter. And when your plan needs changing, change it! (Remember to record your changes in your Update Log.)

In other words, your business plan is never really “finished.” Both the world and the industry are continually changing, so your business must continually change also. And your ever-changing business plan will lead the way!

As you may have gathered by now, I’m a big believer in business plans, especially working business plans. A well-crafted working business plan will not guarantee you success in your speaking business. But it will improve your odds tremendously.

Granted, it takes time, effort, and commitment to develop a good business plan. A lot of it! But if you do it right, over time it will save you lots of time and effort as you run your speaking business more effectively… and profitably. And isn’t a successful speaking career worth it?

Plan to succeed!

Jim Barber