Results for business planning: 486

I've always liked the idea of turning back to fundamentals when you need a special boost--like when times get tough. A downturn is a good time to review fundamentals, keeping in mind that your business plan isn't good or bad because it helps or doesn't help your business grow and prosper.

Plans are wrong, but nonetheless vital. There's a paradox for you. It's a simple statement, one that I hope is somewhat surprising coming from a business planning expert; but it's still very important. And it gets right to the heart of what business planning is all about.

In a recession, it's important to know what adjustments to make to your business plan. Here are three fundamentals to remember.

Why is a business plan so vital to the health of your business? Read the first section of our tutorial on How to Build a Business Plan to find out.

Now's the time for bootstrapping--as in starting a business without outside investors. Despite the big downturn, and a tougher time finding investors, there are still businesses to start based on goods and services people need. And there's reason to start them, too: You've always wanted to; the market wants it; or, gulp, you've lost your job.