Every day, new businesses start. Every day, existing businesses look for opportunities to expand. At the same time, we see many new and existing businesses fail. Most often, that failure, to a large extent, is as a result of failure to plan effectively.
While planning is absolutely essential in business, not every business owner sees the need for it. Many are reluctant to have their plans written down. In fact, there are numerous articles online claiming that the business plan is dead or irrelevant.
The truth is, planning is one of the most important activities you can do as a business owner. It sets the direction for the business and establishes specific goals. Plans serve as guides for making decisions. They are also used to determine whether the business is making progress. Careful planning encourages you to be more specific and objective in your decisions, and forces you into disciplined and strategic thinking.
So, if you’re still not convinced that planning is important, here are two things to remember:
· Business owners who plan effectively are much more likely to be successful than those who concentrate only on day-to-day operations.
· Successful businesses develop and work from written business plans. They carefully analyse every detail in advance. They do not rely on luck or chance. They plan their work, then work their plan.
If you need help with your business planning, send me a message.
Janice is a Certified Business Coach whose extensive professional experience in various aspects of business has set her on a mission to help business leaders turn their Vision into Reality. She works with them to develop and implement strategies, best-practice systems and take action steps that will help move their business forward. In addition to Business Coaching, she is an Entrepreneur, Certified Life Coach, Trainer, Wife and Mum. She also works with Christian business owners who desire to run their business based on Biblical Principles.