Why do you need a Business Plan?
Running a business means wearing many hats and juggling many balls – without dropping any. In amongst all this, it’s very easy to lose sight of where you’re actually going, especially if you aren’t clear in the first place and then don’t have a map to track your progress against.
As a business owner you need a clear vision of what you want your business to achieve for you personally. Then you need goals for your business that make sure it delivers your personal objectives. Your business goals will determine your strategy. Your business plan forces you to articulate all of these and then develop the road map for how your will actually deliver it.
When you’ve developed your business plan you can review it regularly and change it when necessary. You can also communicate it to others in your business and get someone external to coach you and hold you to account as it’s all too easy to fool yourself!
What do we find?
Many business owners want their businesses to grow and are frustrated by a lack of growth. Others find their business is growing and they are now faced with new challenges that they feel ill equipped to face.
There are many stresses placed upon a business when it begins to grow; common areas include leadership capacity, recruitment of key skills, operational capacity and cash-flow. All of them can stop growth in its tracks; but lack of cash can kill an otherwise healthy business.
How can we help?
Our hands on business experience means we can help you clarify your vision, your goals and your strategy, challenge your thinking and hold you to account so you develop a business plan that guides your business towards success.
In or last article, “Measuring What’s Important” we discussed key performance indicators or KPIs. There are lagging KPIs such as financial measures that tell you what just happened and leading KPIs that indicate what your financials are likely to look like.Read More
Following on from our previous blog in this series, “The Most Important Thing”, the next step is to translate your goals into action. For this, setting your targets and measuring your performance against them is vital to making them happen.Read More
What do you want to achieve in your business? Every owner manager had their reasons for why they started out on that journey – what are yours? And more importantly, are they still valid, are you on track, or are your hopes and desires being frustrated?Read More