Thank Goodness it’s Friday! Beginning with this post I will offer a TGIF business tip blog every Friday to help you grow and sustain your business.
Every business needs a firm foundation, so let’s get planning in 2013. You’d be surprised at how many small businesses say they are in business but don’t have a business plan. Many small businesses don’t have a strategic plan. Still others are lacking a marketing plan. Some businesses that have marketing plans have not looked at them recently.
What kind of business planning have you done lately? If you’re serious about growing your business it is time to ensure that you have a sound business plan. If you don’t have one, take the time to develop one. If you have one in place, dust it off and update it.
If you don’t have a strategic plan, put one in place to help anticipate how business trends and environmental changes can impact your business.
Your marketing plan is an essential part of your business plan. If you have one, take a look at it and update it, too.
Other sub-plans that you may want to develop for your business are:
- Customer plan
- Staffing plan
- Facilities plan
- Social media plan
- Product development plan
You’ll only want to develop plans that stem from your business or strategic plan. What is most critical is to be able to ensure that you can determine key objectives and activities that should be implemented to achieve the results you want. Those results are your outcome measures.
Why do most people avoid business planning? Because it takes time. Very small businesses don’t have the time or expertise to devote to planning. But one thing is certain; focused planning leads to focused results.