So you’ve downloaded a business plan template and you’ve sharpened your pencils and got out your calculator. If you go ahead and fill in all the boxes, will this plan be the foundation of a great business?

“No battle plan survives contact with the enemy,” said Colin Powell, a former US secretary of state and four-star general. Can we say the same of business plans? Can the launch of your business be compared with facing your enemy?

The analogy is not that far-fetched. Business plans, much like battle plans, last only as long as the first ambush, and then you must think on your feet.

This is a vital skill for entrepreneurs. If you aren’t flexible and able to react quickly to the challenges that come your way, you risk being shot down. You need to be like a battle commander, working through the night to plan your strategy for the next day. Well, okay, not necessarily through the night, but successful entrepreneurs spend a good part of their 70-hour working week on strategy and tactics.

However, the importance of a practical, adaptable, “working” plan risks being completely obscured by the rigid business plan formulas demanded by banks, financiers and business plan consultants. In fact, new entrepreneurs can be forgiven for believing that, once they have a plan that ticks all the boxes, they are on the road to success.

The reality is that, while it is essential to start with a good plan, it is equally important to adapt the plan to changing circumstances in the market. Entrepreneurship is a tough battle – it can result in some of your most rewarding achievements, but you must be aware of the challenges and be prepared to tackle them with tenacity and versatility.

A good way to prepare for the onslaught is to start by thinking about how to drive your cash flow – the life blood of any business. New entrepreneurs should draw up several versions of a cash flow plan that factor in potential challenges, such as rising interest rates, non-payment by debtors, electricity cuts, theft of delivery vehicles, declining product demand, seasonal variations in supply and demand, and so on. In this way you will start thinking ahead and begin to see how important it is to adapt your plan as you go along. More important than a good plan is your talent for dodging bullets and digging new trenches, or for working through the night to come up with a brilliant new tactic.

In the end, the sustainability and success of your business does not depend on your plan but rather the quality of your planning. However, this process must go on through setback and rally, through advance and retreat, through victory and defeat. Planning does not stop until the war is over.

* Allon Raiz is the chief executive and founder of Raizcorp and author of Lose the Business Plan: What they don’t teach you about being an entrepreneur. Raizcorp is the enterprise development partner of the Seda Small Business Stars business plan competition, in which four winners will be selected for a R250 000 Raizcorp development programme.