Seems like common sense doesn’t it? Having a sensible business plan in place sounds like the thing every company should have. So why is it that so many businesses don’t seem to have a sensible plan in place?
When we talk about sensible business plans, what we mean is something that is thought through, realistic and achievable.
We refer to this as The Eldorado
Remember that BBC soap that ran from July 92 to July 93? Big budget, first new soap on BBC since Eastenders, big build up, big promotion. Then it was shelved after just 12 months.
So what has this got to do with sensible business plans? Let me explain –
- At the end of it’s run on BBC, Eldorado was achieving viewing figures of 9-10m each episode
- When the video (yes, before DVDs…) was released it was Woolworths (remember them??) top selling video
- UK Gold broadcast the series in 1995, 1996 and 2002
- The set near the town of Coin is now a hotel complex popular with Brits for the reason in was Eldorado’s set
In other words, was the business plan realistic, was it a sensible business plan?
- In this case the expectations were probably too high and with hindsight if the show was given more time it could have worked well
- The core idea was good, it just needed fixing and polishing
- It had a customer base, a cult following which was loyal and supportive
Your Business & Your Sensible Business Plan
The key things to consider, and learn from Eldorado is that often your business has a place, a customer base and fills a demand. It is then about getting your expectations correct, being realistic and deciding what is achievable, when and whether your current offering will achieve this,
The other part is in setting timescales. How long will it take to reach set milestones, how long to become income generative or profit making.
We are not suggesting you start your own TV soap, but there are things to learn here.
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By David Farmer