Businesses often start with a business plan. Because most people think that business plans are a big part of a company, it should be one of the first things that you need to create before you start your business. But that is not always the case. There are successful businesses that started without a business plan.
Business plans are formal writings or documents that contain all the information about your business, which you will follow or use as reference when you are building your own business. And even though a business plan is quite handy when building your own business, writing one down is not really necessary. Many business people are running their own business without one.
Because some people think that when it is time to go, you should just jump at the chance and take care of the business plan later. Well, this has been proven true by some businesses that had started out without a business plan but had flourished and are continuing to provide their products to their growing market.
Businesses with No Business Plans
Here is a short list of successful businesses that started without a business plan.
FootzyRolls, a company that makes rollable shoes, was built by sisters, Sarah and Jenifer Caplan. The two had thought that it would be great for women to have comfortable shoes that they can wear whenever they feel uncomfortable with their high heeled shoes. The concept began when Sarah thought that bringing bulky shoes is not a good idea because she had to bring extra large bags whenever she goes out, which ruined her style. She then began designing a shoe that will be rollable and would easily fit into her purse and she came up with FootzyRolls.
Even though they did not have a business plan for their business, the two siblings had made all the necessary documentations such as patent on Sarah’s concept and the legal matters involving their business so that they can protect their intellectual property.
After just a little over a year, the two had already sold $1million worth of FootzyRolls and are still expanding their business. This is the only time that they had started writing up a business plan so that they can expand their business properly.
One of the sisters said that business plans are not entirely necessary in building a business. It can come later. What’s important is that you take the chance and make the best of it when you know the time is right.
Kathy Kramer is also one of the owners of successful businesses that started without a business plan. She came up with the idea of her invisible belt product when she had problems wearing jeans because of her tiny waist. This resulted in a great product which enabled her to build a business and make it successful even without a business plan.
She also did not create any business plan and just started building her business by just following what she knew she had to do and by following her instincts. Now, her business is flourishing and she is able to make it bigger to accommodate her market.
BootyPop is another business on the list that started out without a business plan. Owners Lisa Reisler and Susan Bloomstone started out their business when they came up with the idea of providing women with a product that will endow them with an attractive behind, even though it is only temporary. The idea succeeded in grabbing the attention of ladies who want to have a bigger rear for the sake of fashion, which enabled the two to build their own business to be able to make their product available to the market.
The two also did not have any business plans. Although they planned what they had to do to be able to make their business successful, they did not write any business plans and just started going with the flow of their business.
Writing a business plan is considered a good way to have something to follow to make your business successful. But it can also hinder your business’ success. Because of this, formally written business plans are not applicable to all businesses. They can be a great tool but they are not mandatory to be able to have a flourishing business.