Put Plans In Writing. We hear this over and over and we read about it over and over but the truth is: very few small business owners put anything in writing.

Topic for Discussion: Why does Harry give this advice?

Answer: Because he envisioned that the two companies he has been involved with would be big, not small. This meant these businesses would raise money and hire talent. This meant Harry was not about just Harry. He was always about building something bigger than himself. With that goal, a written plan is needed. Bankers, investors and even new hires need to understand where the company is going and a verbal description just doesn't cut it.

Harry and his partners wrote a business plan for their first catalog and they grew it quickly into a multi-million dollar operation. When Robert Redford came to Harry, Redford had already done a small catalog and mailed it to former guests of the lodge.

Redford wanted to bring in a person who would grow the catalog to something substantial which is the only reason Harry was interested in being involved.

You think about it: Are your plans in writing? If not, why not?