10 Dangerous Lies About Business Planning

“Business plans are a waste of time.”

That’s a dangerous lie.

“Don’t bother, because nobody’s going to read it anyhow.”

That’s another lie. It’s about running your company, not whether somebody else reads your document. 

The lies matter because they interfere with business planning, which ought to be part of your management.

Planning is supposed to be a tool to help you control your own destiny. Instead, many of us don’t plan right because we let some of these lies get in the way.

The list of 10 Lies About Business Planning is included in the video at the bottom. It’s a recording of the webinar I gave as part of Global Entrepreneurship Week, earlier this week.

What’s more important is that I talk about what you should do — instead of believing the lies — to make business planning part of your business management. The goal isn’t just listing lies: it’s steering your company, managing better, and having a better business. Control your destiny.

Would you take a trip without planning it? Would the plan be a big honking document? Would it matter to you whether anybody else read it? Would having a plan mean you couldn’t change it when a flight got canceled?

This webinar was sponsored by bplans.com (an entirely free site) and Palo Alto Software, publisher of Business Plan Pro.

(If you don’t see the video, you can click here for the original on YouTube)

This post originally appeared on Tim Berry’s blog and is republished here with permission. 

NOW WATCH: Ideas videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.