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    4 Replies Latest reply on Jun 22, 2012 10:22 AM by sir draceus

    Business plan "completed" -  I think I'm fearful of actually following through with it... Some advice?

    joevis Wayfarer

      Hello! A little background:

       

      My mom and I decided to get in the real estate business about a year and a half ago. Noticing that we are in dire need of a guide, I began to develop and tailor a business plan for our business in real estate. I know for a fact that a business plan is never complete as a business will always have room to grow.

       

      I believe the business plan is ready to be incorporated into our day-to-day operations, however I have a few issues:

       

      1) I feel that the business plan is incomplete - even though I have my models in place and everything looks good on paper, I am constantly reviewing it for any missing peices. How do I get over my fear of executing the plan when I keep thinking that something is missing?

       

      2) When I do execute the plan, it will require training that my mom will have to go through; however, my problems are 1) She's always busy with cliental and 2) It will require her to change most of the ways that she operates on a day-to-day basis (e.i we do not record important information in a client file, instead we record it on scratch paper. I'm pretty sure everyone knows how bad of a system that is!) Although I can reason with her about the essentials of having a day off for training with our new tools - how would I go on with doing this?

       

      I guess I'm looking for a little advice and comfort in following through with this...

       

      any advice or constructive input that will help me take my mind off of this fear will be greatly appreciated!

        • Re: Business plan "completed" -  I think I'm fearful of actually following through with it... Some advice?
          Jeri Quinn Adventurer

          Question #1 - Analysis paralysis usually covers up fear of execution, just as you say. We learn by doing. The missing piece is what you will learn from moving forward. Take the first step. You'll discover what missing as you take each step. Ever hear the expression: Feel the fear and do it anyway? Take a deep breath and just get started.

           

          Question #2 - Did you write the business plan without your mother's input? Then why would you think she would implement it when she feels no 'ownership'? It's great she's busy with clientele. That means she's making money or on the road to making money. That's pretty valuable. I'm sure there are some mother - son dynamics going on here, too. She's probably never operated with a business plan or tracking technology for client opportunities. So you're asking her to change without showing her how she could be more effective or the business less risky if she learned and used the new tools you're suggesting. You have to get her commitment by showing her the value of chaging is greater than the value of not changing. So draw up your list of pros and cons.  Appreciate what she's done and dovetail the two together. Address the 'I'm the mother, I know best.' dynamic if you need to. Tell her what your competitors are doing. If she's really adverse, propose it as a one month trial until she sees how useful the new systems can become. Be prepared to coach her every step of the way until she masters the change hump. She'll probably be frustrated at first and ready to give up. You'll have to be very attentive. Six months or a year from now she'll wonder how she ever got along without it. Good luck!

          • Re: Business plan "completed" -  I think I'm fearful of actually following through with it... Some advice?
            Moderator Ilona Ranger

            Anyone else have any thought's on this ? If so please tell us about it right here.

             

            Ilona

            • Re: Business plan "completed" -  I think I'm fearful of actually following through with it... Some advice?
              Uncle Leon Tracker

              What great advice from Jeri.  I'll humbly add a few thoughts.

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              My first observation is that you completed your biz plan too late.  You're supposed to consult a road map BEFORE you pull our of the driveway.   Creating a Biz Plan forces you to consider many details that might not be considered by just "flying by the seat of your pants".  Sometimes, it even shows that the Biz you are planning may not be feasible.  If it frightens you enough to causse you to NOT proceed with the Biz, it has done its job well.

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              Your observation that the Biz Plan may not guide you completly is absolutely correct.  Remember a "plan" is just a plan.  It's not "etched in granite".  It's subject to change as circumstances change and opportunities develop.  A Biz Plan is NEVER static.  It's always Dynamic.

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              You also said: "we do not record important information in a client file, instead we record it on scratch paper."  ....that's why God (and IBM) created computers. 

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              It sounds as though both you and your mom might benefit from training.  It's very difficult to put aside opportunities to make a sales presentation, in hope of developing income.  But, realize that the training that you get tomorrow will benefit you next week, and next month and (etc. etc.).  It's yours to use permenantly.  And keep in mind that a wise business person never stops being a student.

              • Re: Business plan "completed" -  I think I'm fearful of actually following through with it... Some advice?
                sir draceus Wayfarer

                My advice is if you fear and don't do it, you will have failed. If you conquer that fear and send it in but it doesn't work, you've tried and have not failed.

                The only people who do not make mistakes are those who do nothing.

                Grab fear by the horns and bring it to the ground...don't ever, ever give up.

                Good luck