Prior Preparation Prevents Pathetically Poor Performance
How many people have excuses when they did not do something, when something did not work out the way it was ‘planned’ or why something simply failed? When in reality they just didn’t spend enough time in the reparation and planning. The old saying “If you fail to plan, you can plan to fail”. If you think you don’t have time to plan, change your attitude. Make time for business planning and you will find you have time.
It is the process of researching all the material/data of your business that is the first step.
You need to know why you are writing a business plan because if you are writing a business plan for gaining finance it will be different to a business plan you are writing for yourself. A business plan you are writing for yourself and your staff may end up being a one pager on the wall with clear strategies, actions and measurements of success. A business plan for finance will be more about the ability to repay your debt and who is responsible.
- Research, Analysis, Plan, Implement and Review regularly for continuous improvement.
- Know your Vision Mission – your business objectives.
- Know your internal strengths and weakness – every part of your business.
- Know your external environment: Your customers, Competition, Industry, and Market.
- Know your Key Performance Indicators.
- Know what actions you need to take to achieve your outcome.
- Regularly review.
