June 2009 I wrote an article entitled Gathering Dust questioning the validity of business plans in today's world. This Monday I read an article by Tony Wanless that echoed the same message. Wanless goes a step further in also addressing the less is best approach or Lean Thinking when it comes to starting a business.

The message being that today's entrepreneur isn't going to succeed if he or she blindly follows the old schools of thought around the starting and running of a business. With all the changes that have evolved in the world over even the last 25 to 30 years; the rigidity of formal business plans and even the need for a sustantial start up budget have become a misnomer.

Whether you are in the throes of a small business start-up or have had your doors open for a few years there are ways to ensure a steady growth. Every 4-6 months set new goals/targets to work on. Try new ideas on small test groups or use surveys, it is important to be connected with your customer or client demographic. Stay up to date through reading and internet research; many business owners don't even read the business section of the newspaper. Keep an eye on the 'big guys' in your field, they have the budget & staff to stay ahead of the trends. Maintain a business journal; a place to jot down notes, observations, ideas & miscellaneous thoughts

Once upon a time business persons were consumed with the theory of entrepreneurship, attending workshops, joining community business groups, networking with peers; today they should be spending more time down in the trenches of running their business. Balancing the learning with the doing is crucial to both profit and success.

While the formal business plan may have been pushed to the back of the file cabinet drawer do have a vision for your business. It is the visionaries who are shaping this century.

Gathering Dust by Jill Crossland, Business Coach

Tony Wanless's article in the Financial Post 'New game, new plan'