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Description
December is the perfect time to reflect on the year gone by and plan for the future. For entrepreneurs and businesses, this month brings a unique opportunity to focus on creating a clear vision for growth and success—National Write a Business Plan Month. Whether you're launching a new business or seeking to improve your current operations, crafting a business plan is essential to achieving long-term goals.
History
The history of National Write a Business Plan Month is not widely documented, but it has become a recognized annual event that encourages business owners and entrepreneurs to dedicate time to creating or revising their business plans. Observed in December, this month is seen as a critical time to reflect on the past year and plan for the future.
Though the origin of this observance is unclear, it likely emerged from the recognition of the importance of business planning in the success of companies. Business planning has been an essential practice for entrepreneurs for centuries, but it gained significant attention in the late 20th and early 21st centuries as small businesses, startups, and even larger organizations began to focus more on strategic development.
The Small Business Administration (SBA) and other entrepreneurial support organizations, such as SCORE and local chambers of commerce, have helped popularize the concept by promoting the value of creating formal business plans. These organizations use National Write a Business Plan Month to provide resources, templates, and expert advice to business owners. It serves as a reminder to entrepreneurs that creating a business plan is crucial for setting clear goals, securing funding, attracting partners, and ensuring long-term success.
Today, National Write a Business Plan Month has become an established part of the December business calendar, where entrepreneurs across industries are encouraged to reflect on their goals, align their teams, and set the foundation for a successful year ahead.
How To Celebrate
- Schedule Time for Business Planning: Set aside dedicated time each week in December to work on your business plan. Break the process down into manageable tasks, such as outlining your company’s vision, defining your target market, and setting short- and long-term goals.
- Collaborate with Your Team: Business planning should be a collaborative process. Schedule brainstorming sessions with your team to gather insights, address challenges, and ensure alignment across departments. This will help your plan be more comprehensive and actionable.
- Seek Expert Advice: If you’re new to business planning or need guidance, consider seeking advice from business consultants, mentors, or online resources. Many experts offer business plan templates or coaching to help you refine your strategy.
- Review and Revise: If you already have a business plan in place, use this month as an opportunity to review and revise it. Look at what’s working and where you can improve. Adjust your strategies based on your experiences from the past year.
- Set Goals for the New Year: Use your business plan to set SMART goals (Specific, Measurable, Achievable, Relevant, Time-bound) for the coming year. These goals will provide you with a clear direction and help you stay on track
Amazing Facts
- Increased Success: According to a study by the Small Business Administration (SBA), businesses that take the time to create a formal business plan are more likely to secure funding and have a higher success rate than those that don’t.
- Growing Trend: As of recent years, there’s been a growing trend of digital tools that help streamline the business planning process, making it easier for entrepreneurs to create, track, and revise their business plans.
- Accessible Resources: Many organizations, including the SBA, SCORE, and local chambers of commerce, offer free resources, templates, and workshops to help businesses craft solid plans.
Why We Love
- Clarity and Focus: A business plan brings clarity to your goals, vision, and mission. It helps you focus on your business's core purpose and the steps you need to take to achieve your objectives.
- Structured Approach: By organizing your ideas and strategies into a formal document, you create a structured roadmap that guides your decisions. This helps you stay focused and make informed choices.
- Attracting Investment: Investors and financial institutions often require a solid business plan before considering funding. A well-thought-out business plan demonstrates that you are serious, organized, and have a clear vision for success.
- Team Alignment: A business plan is not just for the owner—it’s a great way to ensure that your entire team understands the company’s mission and their roles in achieving success. It fosters collaboration and alignment, making it easier to achieve your goals through effective teamwork.
- Risk Mitigation: By identifying potential risks and challenges in advance, you can develop strategies to mitigate them, reducing the likelihood of failure and improving your chances of success.
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