“Time is now your enemy,” Hyman says. He is among many in business today who are convinced that “the dynamics of the market change so quickly” that spending months to perfect a highly detailed business plan simply isn’t worth the trouble.
Mandy Williams invested even more time — thousands of hours over the course of a year — developing a comprehensive business plan for an entertainment production company. But instead of helping her business achieve its goals, the plan ended up restricting its vision. “I don’t see the value of investing time in a business plan,” she says in retrospect.
Williams’ Houston-based company was born in 2004, when she began helping her sister, whose husband had lost his job, with money management and other life issues. The two shared e-mails, instant messages and phone conversations about personal finance, time management and stress reduction. Less than a month into her mentoring role, Williams realized her sister was not the only woman who could benefit from this kind of training.