THE JOURNEY IS AS VALUABLE AS THE DESTINATION

Arguably, the process of developing a business plan is as valuable as the result. It raises key strategic questions and debate that might not otherwise happen, helping you and your team to agree on vision and priorities. It requires you to take a step back and look at your business from the outside, examining your market, customers & competitors. The result is a statement of how the business will maximise opportunities and counter threats given the external factors.

ALIGNMENT COHESION AND ACTION

Once completed the plan becomes a focal point for the business aligning the whole team around a clear vision and set of goals. It gels the team with a shared purpose and understanding. The outcome from the plan is a series of actions that are assigned to members of the team. In this way the plan becomes a reality.

HOW DO I WRITE ONE?

There is no single ‘right’ way to develop a business plan but there are a number of key elements it should include. The overarching aim is to analyse the external environment and develop your business’ response. This is then turned into actions. An independent expert can add great value to the process, providing an external impartial view which can be difficult to achieve when you are so immersed in your own business.

It is essential that your business has the right plan. Keep it clear, simple and achievable. Make it action-based and follow it through.

QUESTIONS TO CONSIDER

- How relevant is my business plan?

- Does my plan need updating or improving?

- Am I on target to achieve my plan?

- Are my team’s goals and objectives aligned with my plan?

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