Anyone that is wanting to increase the level of growth, profitability and cash flow in their business should have a business plan to support and unlock their true potential.  Preparing a plan does not mean being locked away in a dark room for hours on end while writing a 40 page document, keeping it short and focused on clear and measurable goals is the best solution.

 

Get clear on where you want to be:

Before you can move from your starting point towards your destination, you need to get really clear on what it is that you want to be and where you want to be heading.  Remembering that your business is there to serve you rather than the other way around, take the time to think about a few things.

• Where do you want to be in 12 months? Where do you want to be in five years and beyond?
• What are all the roles that currently require your time (Mum/Dad/partner/leader/shareholder)
• What activities, both at work and away from work, do you want to spend more time doing?
• How many hours would you like to work each week?
• What level of income do you and your family need?

 

Reviewing your business:

When done properly, a business planning session will force you to take time away from the day-to-day operations of your business and assess your current performance.  To gain a true and accurate picture of where you are at, the good, bad and the ugly, will require you to be open and honest when thinking about

• Your current level of activity (i.e. leads, sales, revenue)
• The culture of your team (i.e. level of commitment to support you and your vision)
• The accuracy of your measurement and reporting systems (are you able to accurately track your results over time?)
• Your biggest strengths, weaknesses, opportunities and threats.

 

Making a better plan:

Referring back to where you want to be in 12 months’ time, build your plan around what it is that you personally will need from your business, whether that be more time, less stress, increased income (or all of the above!) and directly link each of these things back to your plan.

Keep these simple rules in mind to create a solid plan

• Keep it on one page – two sides if you really must
• No more than 4 main goals for the year with mini goals (90 days) for each to make each main goal achievable. Make your goals SMART – specific, measurable, action-oriented, realistic, time bound
• No more than 5 key performance indicators or measures (KPIs). Any more than this and you can quickly lose focus.

 

Share it with your team:

Help your team to link their personal goals with your plan, making sure that they know and understand their own required actions and KPIs that they will need to achieve.  Encouraging your teams input will give them ownership and focus and the motivation to succeed. They will be more likely to contribute with enthusiasm and continue driving ahead if they feel invested in your vision.

 

Review your plan regularly:

Reviewing your plan, goals and achievements every quarter by an independent person will hold you accountable and keep you on track. Be sure to celebrate any successes with your team and make any necessary tweaks to ensure that your plan continues to meet your business needs.  Staying on top of your business will enable you to be on the front foot and make timely changes to business before it is too late.

 

We are here to assist you develop and review your business plan.  We will also offer you the level of support that you require to make sure that you are on track to achieving your goals.

End up in the right place by calling us today to discuss how we can get your business planning session started.

Find out more about our business planning sessions here.