Having a Plan is the only way to turn
your BIG IDEAS into reality?
We hear the following question all the time:
“Do I really need a Plan?”
The short answer is YES.
Running your business and/or introducing new ideas, products, services
without a plan is like driving your car at night with no headlights
– you know where you are supposed to be going but you can’t see the road ahead.
A Plan allows you to step back, CLARIFY what is currently working,
what needs to change and your objectives.
It also gives you CONTROL over your business and gives
you the CONFIDENCE to make educated decisions.
So what should be included in my Plan?
Your Plan should always include:
- Your vision in terms of what you what the business to be
- Your current financial situation
- Threats & opportunities facing the business
- Specific goals & objectives
- Identifying who your ideal customer is and what makes you different
- Detailed strategies how to achieve your goals including financial forecasts
- Actions required to make your dreams a reality including costs and timing.
In other words it is a ROADMAP for your business.
You are probably thinking like a lot of businesses that it is all too hard,
but that’s not necessarily the case.
FOR MOST SMALL BUSINESSES THE BEST TYPE OF PLAN
IS ONLY A COUPLE OF PAGES IN LENGTH.
It can be one of two types, depending on your needs:
- A formal document intended to present to a financial institution
or investment broker when obtaining finance
Or
- A fluid working document meant to be modified as the business progresses.
The next question we hear is:
“Now I have my Plan, what do I do with it?”
It is one thing to have aligned your personal goals with your business objectives
and created your Plan, but it is worthless without
REVIEWING YOUR BUSINESS PERFORMANCE on a quarterly basis to make sure
you are heading down the CORRECT PATH and REMAIN ON TRACK.
Any strategies that are simply ‘not working’ as a result of either internal
or external issues need to be re-assessed, adjusted or substituted.
Don’t forget – a plan can be achieved in a short period of time and
can be just a couple of pages – it does not need to be War and Peace!
For more information in developing a plan for your business check out our
Impact Program CLICK HERE.
or call us on (02) 8011 4855 or 1300 665 922.
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