Just as you need to plan for the future you also need to plan for the future of your business. Planning can mean taking control of what your future holds, to have that certainty that you are deciding what path your business is taking can give you the confidence needed to create that compelling future we all want and need for our businesses. As we are all very much aware that as in life not planning will most likely lead to external forces controlling you and taking you where you don’t want to be.
The first step to business planning is to know where you are right now, to have an honest open assessment of where your business currently stands. This will allow you to see where your business is doing well but more importantly where it can be improved.
There are several well-known business planning methods for measuring this, some examples of these are noted below:
– SWOT Analysis. Locate Strengths, Weaknesses, and Opportunities & Threats.
– Analyse or ‘audit’ internal structures.
– PEST Analysis. A look at the Political, Economic, and Social & Technological factors which could affect a business.
The next step is to figure out where your business is going or rather what direction you want it to go.
To have this compelling future you want for your business is one of the strongest tools to have at your disposal. You don’t need to have everything absolutely perfect, but by beginning today with a vision for how you want your business to be will give you confidence and a sense of freedom. Even in these tough economic times you will have your blueprint to building and sustaining a successful business.
Planning for us isn’t about trying to sound smart, giving out some forecasts and discussing some ratios, it’s about helping you get from where you are now to where you want to be.