We believe the most effective business planning process is one that produces a succinct one page plan which encompasses a number of traits. We believe that gone are the days of phone book style business plans which are filled with words. Whilst they might have all the necessary information relating to the business goals and objectives, they are prepared in such a way that finding the fundamentals (key points or KPI), is akin to finding a needle in a hay stack.
A short form (one page) business plan, if prepared well and done with the following traits in mind, should provide all the necessary information to identify the business goals and objectives and, more importantly, targets for the short and longer term. As you read through the list below, we challenge you to compare these points with how your current plan, should you have one, stacks up.
A good business plan should:
- Provide a very clear direction of who you are as a business, where you want to be in 12 months’ time and where you want to be in ten years’ time? (Note: Whilst this ten year goal is by no means set in stone, it is at least identified for now in light of prevailing circumstances).
- Identify the biggest opportunities and obstacles ahead for your business?
- Highlight the conviction and greater commitment to your business strategy? The aim of which is to share and build with your team and the market place.
- Allow you to enrich your leadership capabilities?
- Inspire your employees with a crystal clear vision that reinforces their efforts every day?
- Unleash a culture that empowers employees with responsibility and accountability?
- Eliminate tasks and priorities that simply don’t fit with your business’s strategic direction?
- Uncover hidden issues that are inhibiting success?
- Look to generate momentum in business operations?
- Provide clarity and consistency as to the business direction?