Close Menu
  • News
  • Home
  • In Profile
  • Finance
  • Legal
  • Technology
  • Events
  • Features
  • Wellbeing & Mental Health
  • Marketing
  • HR & Recruitment
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
X (Twitter) LinkedIn YouTube
Trending
  • Five ways to monetise your business EV chargers
  • New book on conquering fear of public speaking
  • 1 in 3 employees anxious about lack of first aiders at work
  • What SMEs risk when their IT provider gets bought out
  • Back to Work: Keeping your employees happy after their holiday high 
  • Are you flying blind on your most important business decisions?
  • Return fraud: what it is and how online retailers can protect themselves
  • UK Small Businesses Reveal Top 10 Strategies Driving Sustainable Growth
X (Twitter) LinkedIn YouTube
SME Today
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
  • News
  • Home
  • In Profile
  • Finance
  • Legal
  • Technology
  • Events
  • Features
  • Wellbeing
  • Marketing
  • HR & Recruitment
SME Today
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
  • Twitter
  • LinkedIn
  • YouTube
  • RSS
You are at:Home»Features»Just start! Why you should ditch the business plan
Entrepreneur concept on blurred abstract background

Just start! Why you should ditch the business plan

0
Posted By sme-admin on October 26, 2021 Features

Are you waiting for a bulletproof plan to start a business? Don’t.

Contrary to conventional wisdom, building a business doesn’t start when you create a formalised business plan. For me, that is an outdated and unrealistic idea. It means knowing exactly what you want from the start and what steps you need to take, and in what order.

Sonya Barlow
Sonya Barlow

Instead of structure and direction, a perfect business plan can become an unshakeable script that becomes a restriction before you even start and even make you fail quicker. Why? Because you are not giving yourself room to make mistakes, fail and try again, adapt, and move to the next challenge.

If the Covid-19 pandemic has taught us something is that things can change – fast – and we have to learn to adapt just as quickly. But, unfortunately, a bulletproof business plan won’t mean a lack of setbacks and disruptions. So, if you don’t need an elaborate, foolproof business plan to start, what does it take?

I attended business school but didn’t know the first thing about starting or running a business. It wasn’t until I had to face the challenges of starting my own business that I truly understood what it takes. Getting yourself out there, taking a chance on yourself, and adapting is what will propel you and your business forward. This is one of the hardest parts of launching a business: letting go of your own reservations and take that risk.

As an entrepreneur, and after interviewing other founders, I realised a few things. First,  you don’t even have to have everything figured out. Most of the stories of Unprepared to Entrepreneur are about people that started their journey by identifying a clear problem and formed an idea on how to solve it. They had a grey area – a term I use to describe a situation that makes you dissatisfied or frustrated – and wanted to do something about it.

Second, identifying your entrepreneurial style. Not every business has to be the new Netflix or Uber. There are different types of entrepreneurs. Knowing which one you are is key to keeping your business constantly evolving and innovative. Otherwise, you can lose your passion, drive and style because you don’t have a sense of identity, mission, values and principles that motivate your actions.

Finally, hard work, determination and, most importantly, embracing failure are essential to building a business and brand. However, in the media, we tend to see stories of wealthy and privileged founders, about the glamour of being an entrepreneur and being your own boss, big wins and successes and inaccessible quotes about the six-figure dream.

But, in most entrepreneurial stories, those of people from underprivileged backgrounds starting a business with little money or launching their side hustle into something life-changing, the truth is different. These stories talk about many attempts and failures along the way to becoming the business they are today. Personally, I love failure. It is merely a temporary disruptor that forces you to find a new path to achieve your goal. Failing will allow yourself and your business to evolve.

Unprepared to EntrepreneurSo what is the learning from this? It isn’t the bulletproof business plan that made an idea successful. It takes failing and facing rejection, learning and adapting, changing tactics, and not giving up to overcome the challenges of entrepreneurship.

Becoming an entrepreneur sometimes isn’t something you plan, but it is life-changing.  You just have to be open to taking a risk on an idea and yourself. Because not pursuing it will be worse than trying and failing.  So, ditch the business plan and just start!

 

Sonya Barlow is an award-winning entrepreneur, founder & CEO of Like Minded Females Network, and author of Unprepared to Entrepreneur – A Method to the Madness of Starting Your Own Business (Kogan Page) priced £14.99.

 

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Return fraud: what it is and how online retailers can protect themselves

UK Small Businesses Reveal Top 10 Strategies Driving Sustainable Growth

Why one simple metric can’t capture productivity

Comments are closed.

Follow SME Today on Linkedin and share all the topics you find interesting

The Newsletter

Join our mailing list for the best SME stories, handpicked and delivered direct to your inbox every two weeks!

Sign Up
Personal Pension offer
Events Calendar
    • Marketing
    August 29, 2025

    OneMetric forms strategic partnership with RevOps expert to drive UK growth

    August 28, 2025

    The Seven Phases of Festive Shopping and How to Target within Each Effectively

    • Finance
    September 3, 2025

    Five ways to monetise your business EV chargers

    September 1, 2025

    Are you flying blind on your most important business decisions?

    • People
    August 14, 2025

    A Life Worth Saving – A Tribute to Dame Stephanie Shirley CH, 1933–2025

    August 12, 2025

    Finance Director Returns As Judge For National Business Awards

    • Health & Safety
    September 2, 2025

    1 in 3 employees anxious about lack of first aiders at work

    July 1, 2025

    Temperatures Soaring: Is Your Workplace Becoming Unsafe?

    • Events
    July 22, 2025

    South West Expo Delivers Outstanding Event at Swindon’s STEAM Museum

    July 4, 2025

    £20k grant for female-founded SME up for grabs

    • Community
    July 11, 2025

    Building community, one cause at a time

    June 23, 2025

    Celebrating One Year In Fairford Supporting The Community

    • Food & Drink
    August 22, 2025

    How to get stocked by major retailers as an SME

    July 18, 2025

    Warning to Small Businesses Over New Food Waste Regulations

    • Books
    September 3, 2025

    New book on conquering fear of public speaking

    August 7, 2025

    Learning to Leave a Legacy in Business

    About

    SME Today is published by the same team who deliver The Great British Expos’. We have been organising various corporate events for the last 10 years, with a strong track record of producing well managed and attended business events across the UK.

    Join Our Mailing List

    Receive the latest news and updates from SMEToday.
    Read our Latest Newsletter:


    Sign Up
    X (Twitter) YouTube LinkedIn
    Categories
    • Books
    • Community & Charity
    • Education and Training
    • Environment
    • Events
    • Features
    • Finance
    • Food and Drink
    • Health & Safety
    • HR & Recruitment
    • In Profile
    • Legal
    • Marketing
    • News
    • People
    • Property & Development
    • Sponsored Content
    • Technology
    • Transport & Tourism
    • Wellbeing & Mental Health
    • ABOUT SME TODAY: THE GO TO RESOURCE FOR UK BUSINESSES
    • Editorial Submission Guidelines
    • Privacy
    • Contact
    Copyright © 2025 SME Today.
    • ABOUT SME TODAY: THE GO TO RESOURCE FOR UK BUSINESSES
    • Editorial Submission Guidelines
    • Privacy
    • Contact

    Type above and press Enter to search. Press Esc to cancel.