09/15/2026
Another True Story from Colley Avenue Copies
10 Things that I would have included in my Business Plan if Iknew better.
Time always teaches you.
1. I would have set mile stones including time lines. Without it I headed aimlessly towards my ultimate goals but did not realize that I could have gotten there with more focus using less resources by achieving smaller goals and following the time line.
2. Make sure that your business plan includes an avenue to scale up. Plan for your business to grow.
3. After incorporating. Plan for the IRS to audit you after two years. An audit in the first year doesn’t give the IRS enough material to audit. The call from the IRS is the scariest phone call I ever took. A simple thousand dollar mistake with interest and penalties turned into a forty thousand dollar bill and an audit every year for seven years. The IRS is especially focused on payroll taxes. You should hire an accountant to set you up with best accounting practices or take the sure path by hiring a payroll service.
4. Learn more about running your business A great chef doesn’t necessarily make a great restaurant. One of the most common reason that businesses fail is that the owner doesn’t know how to run their business or do sales. Never stop learning. seek out information Holly and I even took unpaid internships to learn more about what other businesses do and know. Set a defined time to do research and learn. There is no shame in Googling. It is better than no help at all.
5. Stay fit. Schedule time every day to improve your physical self. If you get sick and work at a reduced capacity, then your business will operate in a reduced capacity.
6. Have a plan to cross train your employees, especially yourself. This allows you to hire less employees and makes you less reliant when employees call in sick or leave.
7. Staff up as soon as you can. As the owner your time is valuable. Shift as much of the daily tasks as you can and do what you do best, running the business!
8. Watch your money, cost of materials change, and every penny counts.
9. Review your business plan periodically. Businesses have to grow with the needs of the clients.
10. Include an exit plan. We all grow old, including our business. You may want to move on or start something new.