Too many business owners are willing to start a business and just ‘wing it’. You cannot wing a business! imagine going to a builder and asking for a house to be built and the builder says, ‘Sure, we’ll just wing it’.
Would you build a house without a picture of what it will look like when it is finished?
Would you allow a builder to build your house without a plan?
Then why do so many business owners run their business without having a plan in place?
Failing to plan is planning to fail – Alan Lakein
Many business owners are under the impression that their passion and confidence will be enough to create a successful business, but operating without a business plan proves to be more time-consuming as well as costly in the long run.
So, what exactly should be included in a business plan?
- Your business goals and objectives should be SMART (specific, measurable, achievable, realistic, timeframe)
- What are your products or services you sell and how much & costings?
- Who is your target market and what are their needs?
- How are you going to reach your market?
- What are the critical success factors?
- What are your current and future expenses?
- What does your ideal team look like?
The clearer you are on where you are now and where you want to be, the easier it is to build a step-by-step path and timeline to achieving it. Clarity of direction and peace of mind can contribute enormously to reducing the feelings of stress and anxiety.
To make changes to your actions, you must first increase your knowledge and education. By doing so, your beliefs & dreams will be amplified and in turn you’ll find yourself asking better questions and you will start to consistently make quality decisions.
TEAM: Together, Everyone Achieves More
Figure out a way to smooth the ravaging effects of cyclical business and learn how to support your team, so the team can support the customer, so the customer supports the business, and the business supports the owner!
Make your goals a reality by ensuring you take the time to work ON your business, instead of just IN it. Don’t just have a job… build your business for ongoing success!
If you want to get your team on the same page, and share a clear direction, or if you would like to show the bank or a financier where you are taking the business, our two-day Business Planning Workshop will give you a professional plan. During the 2-day workshop we support our clients to build their financial information from the ground up. To assess their assumption regarding Product, Position, Price and Place! To assess their assumptions regarding unit sales, pricing to the consumer and the underlying costs to run the business.
For dates of my next workshop and more info, follow this link: www.bit.ly/bpw-perth