I’ll Show you mine, if you show me yours!
Are you ready and willing to show me yours? – Your Business Plan, that is.
Sharing your written plans with others outside your business is one of the best ways to bring clarity and insights to this document, yet many business leaders are often reluctant to do this.
The key is finding the right audience, someone you trust and is willing to challenge your thinking and provide fresh perspectives. Ideally, you also want someone who has a broad business experience, and not necessarily in your industry.
Some possible examples:
- Business leaders you may know in other industries who are not connected with your business in any way. Offer to review their plan and exchange ideas – “I’ll show you mine if you show me yours.” This could be done one-to-one or with a small group, spaced over time. (If you are involved in a CEO peer group such as The Executive Committee, you have access to this type of opportunity on a regular basis.)
- Senior business bankers
- Senior business accountants
- Other professional advisors, such as M&A firms, business coaches or consultants
- An advisory board (distinct from a formal board)
- A mentor or coach
You are looking for a coach’s perspective: Does this plan make sense to you? What parts need clarification? What’s missing? Where are my challenges, opportunities, blind spots?
This may be too large a task to complete is a single meeting and may be better tackled one section at a time.
Presenting your plan to others will require you to be more succinct in documenting the plan and will lead to much greater clarity. And, clarity creates confidence.
Don’t be shy, ask for help. I think you will find most people you ask will feel flattered that you reached out to them.
If you need help in structuring your working plan, please visit our web site, plangenie.com