Business planning helps entrepreneurs work smarter, stay alert for roadblocks, test new ideas, stay motivated, help align expectations with stakeholders and investors, and even reduce stress,” wrote Robert Price, executive director of the Global Entrepreneurship Institute, in an article on the organisation’s website.
Writing a business plan forces you into disciplined thinking if you do an intellectually honest job,” he says. “An idea may sound great in your mind, but when you put down the details and numbers, it may fall apart.
Decades of positive psychology research has shown high levels of subjective well-being (the combination of overall life satisfaction and in-the-moment positive feelings) can translate into better physical health and a longer life. over 160 relevant studies and found that while positive feelings did not improve outcomes for people with certain diseases such as cancer, the evidence that happiness leads to better health is “clear and compelling.”
A customer plan is a concise document that outlines everything you will do to make your company the best in your industry. It’s written by studying your customers’ habits and needs, not your competition. At its center is a 10x goal—something that will make your company 10 times better than your competition by reinventing a business category and delivering a new consumer experience.