I recently went through the process of rewriting the business plan for Dream in Digital. It was a bit more time-consuming than I initially anticipated, but it was one of the most helpful exercises I’ve done in years. I have had ideas in my head for a while now about how Dream in Digital could transform from a simple commodity-style agency (web design, graphic design, email marketing, tech support, etc.) to a more strategic partner for founders & owners. It wasn’t until I finally took the time to stop "doing" for a moment and actually sat down and put the ideas in my head into a Google Doc, that things started to really click!

A quick search with Google’s Gemini says that around 80% of businesses fail, and only 33% of small business owners even bother to write a business plan. With that math, the "secret" to survival starts to look less like luck and more like preparation. Regardless of the numbers, I think it’s fair to say that there is not only a gap between active businesses and those who take the time to write a business plan, but many times, business owners only write a plan when they’re first starting out and/or they need funding and then toss it on a shelf to collect dust. The key isn't just having a plan then, but it's about having an active plan — for your active business! Think of it as a compass: it doesn’t do the walking for you, but it will always tell you what direction you’re facing, and help you walk towards the direction you desire.

1. Establish Your Principles: I’ve talked about this before in a personal context during a previous newsletter, but just as you need a “North Star” and a principled foundation for your personal life, you also need these same core pieces to guide your company!

2. Balance Strategy & Execution: Although I am promoting planning, I know first-hand how easy it is to fall into the “paralysis by analysis” trap. Do NOT do that! Spend a concentrated block of time on your plan upfront, then you can simply make incremental changes to it moving forward. This will help you balance the benefit of planning, with the importance of doing. Without that foundational plan, it’s nearly impossible to discern what’s actually moving the needle, and what’s just a loud distraction. Let your plan function as both your logic and your fuel to act!

3. Adapt with Purpose: In a fast changing world, it’s hard to know whether you need to “stick with your gut” or change quickly to keep up with the trends. I often find that the best balance is being able to be steady with your principles (WHY statement, mission, vision, values, etc.), but open to changing the details (products/services, operations/workflows, team structure, marketing strategies, etc.) based on market feedback and new trends. Your principles are the roots; your strategies are the branches — they should be able to bend without breaking the whole tree.