The Geometry of a Business Plan

People often compare business plans with road maps. In a column last year, I wrote that these times demand something more like a GPS system, which can “recalculate” those directions whenever we get off the path or the road ahead is closed.

I’ve noticed that many good business leaders have something in common with satellite navigations systems. Like the electronic device, they gather information from sources that orbit their everyday environment and use that information to guide them to places they have never been before.

None of those sources know very much about the business owner’s current location or where he or she is going. But they have stored a great deal of important information and they share – usually for free.

But like the satellites, the information they provide must be used together in order to be useful.

I’ve noticed that the successful business leader is often the one who can “triangulate” the bits of information and other input they gather from these contacts and turn it into useful information. Just like a GPS system that combines the data received from several satellites and identifies your position, these individuals can take two or more seemingly unrelated facts, skills, contacts or experiences and combine them in a way that creates a solid plan and a thriving business. Read more.

Source: Richmond BizSense by Stan Maupin. August 13, 2010.