Almost every book about starting a new business begins by telling you to write a business plan. Many readers run in terror, others jot some notes on a pad and a very few sit down to write out a comprehensive strategic plan for their business.After all,
majority of business owners start their businesses without outside financing, so why do they need a business plan?
But, along way, with millions of great ideas pulsing in their brains, most business owners begin to write things down. They begin to devise strategies, set goals, create plans, lay-out timelines, etc. This is good … unless you get stuck in this stage like Bruce did.
"I don't believe I'm admitting this to you, but I can't find any other way around it. I have been struggling with this problem for whole time I've been in business, and I'm embarrassed to share it with anyone else. But, I know I'm holding myself back from being really successful, and I need some help to work this out," he told me.
I was truly surprised by his candor, but not by his problem. Bruce was suffering from what I had experienced myself .. perfectionism. And it was draining all of his energy. He started his financial planning company 2 1/2 years ago wanting to provide clients with informed and honest advice - things he felt were lacking in other providers in that field. But since then, he had gone from being idealistic and enthusiastic to being discouraged and disillusioned.
"I really thought I could make a difference and make money at same time. But my best ideas get stuck on page. I can't seem to get any one idea rolled out completely. By time I come up with idea, do some research, pull together some numbers, lay-out a plan and develop some marketing strategies, I have about 10 more ideas I want to pursue."
"It feels so invigorating when I'm thinking about idea and creating plan and strategy. I always think that idea I'm working on is one that will truly make my business take off. But as I look back over past two years, I feel like a complete failure."
"I started this business thinking I could provide a great service and make great money doing it. But, now I'm starting to doubt if I really have what it takes to be successful. I'm ashamed to talk to my wife about it after I told her how great I would be at this."
"I just don't get what I'm doing wrong. My clients really like me, and I do a great job for them, but I'm stuck at this sort of survival level and can't seem to implement ideas that I think would really establish my business. Maybe I should just go back to working for someone else."
"Is that what you want to do?" I asked him. He jumped in almost before I finished, "No, I really want to make this work. I just don't know what I'm doing wrong."
"Don't sell yourself short, Bruce. You aren't doing anything wrong. You've done a great job at establishing yourself as an honest and informed financial planner -- your clients told you so. You certainly aren't a failure, but I definitely understand why you feel so disappointed and frustrated. It sounds like there is just one thing that's holding you back -- fear."
