How many business owners refer back to their business plan after start up?
How many business owners refer back to their business plan after start up?
I confess I don't look back that often. About a year ago I came across my business plan from 5 years ago more by accident than by design. It was an interesting read but mostly not relevant to the current challenges.
However, I do draw up a new business plan each year and carry it around with me to remind me of my strategic objectives and priorities for the year.
Participation is voluntary.
Alcocks Electrical Services | Alcocks Pest Control & Entomological Services | Alcocks Hygiene Services
At the start of each year in draw up a plan and try look back at least once a month. I have found this to be very helpful to me.
This year I have done a one pager with the big goals/challenges and have broken it down into several pages thereafter.This really works well for me as I get sidetracked easily and in a glance I can focus again.
It is very interesting as Dave said to go back a few years and see what has happened since.
I found that very few business owners actually use a business plan. Why do you need one?
Well at least you have to set goals for yourself and your business. This you can do in various forms as long as the goals are attainable and can be measured. You may break your goals down into monthly increments and use your diary, spreadsheet or any practical way of reminding yourself and measuring your progress. A projected cash flow is one of those essential measurement tools and should be part of your business plan. Look at it often and measure achievement against projections.
If you are looking for funding or investors, you need a more elaborate business plan that also tells the funder about your business, what you stand for, past achievements and where you are heading. And of course how much money you need and how it will make the business grow.
Once you have this document prepared for the bank etc, revise it and keep it up to date. You will be amazed how much you learn about your own business and thought processes. .
Excellence is not a skill; its an attitude...
The main problem with small business, is like trying to keep a rowing boat on a straight line course on a choppy sea. Any small wave has the strength to move you off your course, no matter how hard you row, you will be shifted from your line. The shift in no way means that you are not moving. In the current times, no matter how good your business plan, by year end it will be no nearer to it. To me goals and business plans are not the same, and this is the reason that small business survive, simply because they can practically move anywhere on a dime, this ensures the goal is met which ultimately is financial reward.
Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
Solar pumping, Solar Geyser & Solar Security lighting solutions - www.microsolve.co.za
I have attached a draft of a business plan please don't me if this is not the layout you would prefer or not to your likings.DynamicBusinessPlan-word.docBusinessplan_Booklet.pdf
Geraldene Kapp
Professional Tax Help
www.mytaxhelp.co.za
Dave A (21-Feb-12)
thanks for the business plan layout Geraldenek
Could you say its more of Strategic planning?
Hate to throw a cat amongst pidgeons, but have you checked out http://www.bplans.com/sample_business_plans.cfm I used to check them out for writing Business plans for feasibility of my many ideas....Originally Posted by http://tutor2u.net/business/strategy/strategy_marketing.htm6
once there was a man. the end.
Participation is voluntary.
Alcocks Electrical Services | Alcocks Pest Control & Entomological Services | Alcocks Hygiene Services
Did you like this article? Share it with your favourite social network.