What exactly is a business plan anyway?

Another client question on Tuesday’s call-in day – “Chris – how do I create a business plan when I’ve never done it before?”
 
 I asked what research he had done so far:
 
 1. had a look on the internet at downloadable packages;
 
 2. had a look in a local PC store at off-the-shelf packages:
 
 3. had a look at his local bookstore.
 
 He was bewildered and confused by the choices.
 
 This client has been in my core dental programme for 3 years.
 
 So I asked him the following questions:
 
 1. have you written a 3-year vision statement?
 
 Yes
 
 2. have you created personal and professional cash flow forecasts?
 
 Yes
 
 3. have you written operational systems for the practice?
 
 Yes
 
 So I shared with him a formula:
 Vision + Cash Flows + Systems = Business Plan
 
 He had already written it – he just didn’t realise that those disparate pieces of paper could be joined together.
 
 So, relieved that he has done 80% of the work, he is now off to polish his business plan.