There has been a lot written about the importance of business plans for the success of a business. Government supports emerging businesses by paying them to produce business plans via
However, there are many successful businesses who don’t produce formal business plans.
There is no question, the discipline of writing a plan for your business assists you in remaining focussed and helps you in avoiding problems. A plan is like a map, it shows you how to get from point A to point B without getting lost. You can divert or ‘stop over’ on the journey, but as you know where your destination is, you will get there, and with very little wastage of resources.
Most people when planning for a major event in their life (for example a holiday or a wedding) have a plan. Most of the plan is in their head, and occasionally they write some points down to help them remember specific details. A business plan should be much more formal than simply ‘jotting down notes’.
Comprehensive business plans are of importance to
So how does
It is advisable to have assistance in putting this plan together to make sure that the operator covers all the important goals that have to be achieved. It also increases the chances of success if the operator meets with their adviser on a monthly basis, ensuring that the Plan of Action is just that – a Plan followed by Action!
A Plan of Action is a structured plan to assist you in;
It should also include such things as (HOW, WHEN, WHERE, WHY & WHAT), for example
The business plan should include separate plans on such topics as:
All plans should be placed within a time
The time frame should initially be worked monthly for 12 months. Plan what you want to achieve each month. These become goals that you work towards. Then plan for weekly and finally for each day. The weekly plan should be worked out in monthly units of four, and the daily plan should be worked in weekly units of seven.
Remember, if you do not achieve your goals, it doesn’t necessarily mean that you have failed. More likely it means that your expectations were unrealistic, or that you have forgotten some factor which influences the development of your business. It can also mean that an unexpected opportunity arose, which you took advantage of, and in
This is the advantage of a Plan of Action – you check your achievements against the goals you set, allowing you to measure your progress. This measurement
Once the first year of your business is completed, you can produce a two year or a five year plan. It is easier to plan for long periods of