5 Tips on Technology Planning
By Christine Banning, VP Corporate Relations SCORE

• Create a master plan for technology, just as you would draw up a business plan, a budget or a marketing plan.
• Design the plan so that it supports your business strategy and goals. Use it to guide technology buying decisions.
• Think of technology purchases as investments, not costs. And, remember, when you have an overall plan, your company avoids wasting money on unnecessary purchases or quick fixes.
• Start by determining your company’s needs. Look at what problems need to be solved and how technology can help.
• Get expert help to guide you. Check your Yellow Pages under “Computers-System Designers & Consultants,” or ask your local chamber of commerce. As always, get references.
  
  Test Your Small Business Plan
  So you’ve done a fantastic business plan. Now you can forget about it and focus on running the business, right? Wrong! Your business plan may take you in the wrong direction—or your business could grow in a way that makes your old business plan fit you as poorly as the old clothes you’ve relegated to the attic.

Give Your Business Plan an Annual Check-upYou!

should revisit your business plan at least annually, if not more often. At these annual “checkups” of your business plan, tweak your plan and understand how decisions you make are consistent with it, or are changing in reaction to the market. And don’t forget to consider e-commerce, if it makes sense for your business. Any plan that leaves out e-commerce leaves itself open to skepticism from investors, although there are some venture capitalists dedicated to funding more traditional businesses.

If the Plan Isn’t Working? We hope you would have done a good enough job with your initial business plan that you would not be abandoning the business plan entirely, but merely making some changes based on changing market conditions. For example, if you’re selling a product and realize that there’s a use for that product that neither you nor the manufacturer anticipated, you need to respond quickly and well to that. You want to make changes that are logical. You don’t want to deny your business the opportunity to change just because your business plan says you should be doing it one way, when another way makes more sense and is more effective.
But don’t abandon your business plan entirely unless you’re changing your business significantly. If you do, it means you did a poor job of planning on the front end. And how do you know whether to make that significant business change?
It’s a matter of doing some market research and doing some soul-searching to know whether or not this significant change is the right move for you. Look at your competencies relative to the market. Take a look at what the competition looks like; ask yourself whether you can produce the product or service and if you can deliver.

Do You Really Need a Business Plan?Is it possible to start a business without a plan? You can, but that’s doing things the hard way.There have always been people who’ve jumped into business without ever spending the time to create a plan. Some are successful regardless. But they would probably have been even more successful if they had used a plan. The road might have been a little less rocky and the stress levels a little lower, if they had taken time to anticipate the business’s ups and downs.
Once You Have a Plan . . .To save yourself the headaches and heartaches of a failed plan, it’s a good idea to test it prior to starting the business.

You can get valuable feedback from a:
· SCORE chapter
· Banker
· Relative or friend
· CPA
Just make sure that whomever you ask for feedback is neutral and likely to be constructive. For instance, a family member, in an effort to be supportive, may not mention things you need to hear. Go to someone who will ask you the hard questions.