Your Business Needs A Business Plan

Edmonton Business Coach talks about why Your Business Needs a Business Plan

While many Canadians dream of starting their own business, says Edmonton Business Coach, Trevor Samons of Inspired Method Marketing. Fewer people actually take the plunge into entrepreneurship. And unfortunately, half of these small business owners ever succeed in owning their business for longer than five years. Yes, starting a business is easy, but succeeding in business is another story.

This is why your business needs a business plan. One of the most common reasons entrepreneurs struggle, is because they think that being an expert in their field, makes them an expert in owning a business in that field. Which isn’t true, according to Samons.

Just because someone is a doctor, lawyer, an electrician, plumber, doesn’t mean they know the skills needed to run a successful business.

Learn to Be An Entrepreneur

In fact, there are very few things that can prepare people for the skills they will need to run a business.  According to Josh Spurrell, of Spurrell & Associates CPA, “statistics show that business degrees don’t have much impact on the failure rate of businesses” says Spurrell. In fact, the best way to learn what you need to run a successful business is to become an entrepreneur, says Samons.

However, this is a difficult endeavour, because one small mistake might end up being costly. Which is why you need to follow a blueprint, or a plan. Just having a plan in place makes you more likely to succeed. And for those who are dreaming about owning their own business, taking that step in creating a business plan makes people 152% more likely to actually bring that plan to fruition and start their business.

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Even having a poorly written business plan makes business owners more likely to succeed. So why aren’t more entrepreneurs sitting down to write them? “It’s all about prioritizing, and doing what is needed” according to Edmonton Business Coach, Trevor Samons. “Many people end up focusing on the wrong things in their business, and don’t realize it.”

This is one of the best arguments for hiring a coach, someone who can help entrepreneurs understand what they should be focusing on in their business.

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Like creating content, talking to new customers and creating systems, processes in their company and writing as well as reviewing their business plan. Instead, they’re doing things like checking emails, and organizing their office, which won’t actually help them move the needle forward in their business.

Hiring a great Edmonton Business Coach like Inspired Method Marketing, can help entrepreneurs not only understand what they should be doing. But help hold them accountable to the tasks that they need to be doing.  Instead of a hiring just a consultant, who simply lets the business owner know what they can do to be successful.

Succeed In Business With A Coach

A business coach actually takes that journey with the entrepreneur. Checking in with them on a weekly basis, ensuring that if they do run into unexpected roadblocks, they get the help they need to get back on track. Ensuring the tasks they need to have done, such as meeting new customers or creating processes are actually getting done.

In other words, Edmonton Business Coach will not only help entrepreneurs understand that they need a business plan. But will ensure they get one, review and edit it as needed, and then follow it.

We know what you need to succeed

Trevor Samons, the owner of Inspired Method Marketing and Coaching is no stranger to knowing what a business needs to succeed. A successful entrepreneur himself, he created his company out of a desire to help other entrepreneurs utilize strategies that actually work.

When entrepreneurs are ready to work with an experienced team, the experts at Inspired Method are waiting. Call to arrange an in person or virtual consultation, and learn what makes them different, when it comes to succeeding in business.

Contact us!