Business VoIP Featured Article

Why a Business Plan Could Kill Your Success

June 24, 2013

By Susan J. Campbell, Business VoIP Contributing Editor

The launch of a new business or the reorganization of an existing business often demands the creation of a business plan. It’s often needed as a roadmap to help key decision makers and leaders understand where the business is going; and is typically required by a financial institution if funding is sought. But is the business plan the best way to drive the company toward success?


A recent video posted by business VoIP provider, Nextiva, included a video of Mike Michalowicz, author of The Pumpkin Plan. The video is short and sweet, but is full of sound advice for the business looking ahead to a successful future. Michalowicz suggests that the traditional business plan is not the catalyst to business success it was once believed to be, but instead could take you off course.

Companies still need a guiding document, however, to keep everyone on track and working toward the same goals. To that end, Michalowicz suggests the development of a vision document, a document that outlines where you want the business to end up at a certain period of time. Much like the traditional vision statement, the vision document offers an opportunity to outline where leaders want the business to go.

To clarify, the vision document is not necessarily outlining the path for getting to that destination, but is instead an opportunity to state the overall goal. Once that is in place, the company can develop the tacking strategy, a quarterly plan to drive activity toward that destination outlined in the vision document.

The tacking strategy covers activities for the next 90 days. Thereafter, it is revised every 90 days as you continue to work toward that vision. By using both the vision document and the tacking strategy, you can constantly adjust the environment around you to fit the direction you want to go. Things you aren’t expecting will happen, both good and bad. If you work within 90 day increments to make your vision happen, according to Michalowica, you’re a lot more likely to get there than if you had a business plan.

What does this have to do with business VoIP? Like all other elements of the business, technology and communications have to be evaluated according to the strategies put in place. If you develop a vision document and tacking strategy, what key initiatives have to be in place to ensure success? How will key players communicate? How will you drive collaboration? How will you control costs to strive for the competitive advantage?

All of these questions have to be taken into consideration. As you consider the role next-generation platforms such as VoIP can play in your overall operations, you’ll be better positioned to make that vision a reality.




Edited by Jamie Epstein

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