The importance of a good plan when growing your business

Posted by Bartercard on Jun 1, 2016 6:02:31 PM

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Everything worth having, from the perfect wedding day to earning a university degree, requires careful preparation. Business plans provide a mission and a path for your company that can keep things moving in a forward direction. As a small business owner, effective planning is the difference between success and failure, growth and stagnation.

But it's challenging to create a high level plan for your business when you're used to having your boots on the ground. The eBook The 7 Habits of Highly Effective Small Business Owners can help you learn the skills necessary to work on your business despite your role in your business, balancing your dedication with the entrepreneurial skills that inspired you to start a company in the first place.


Few things in life go off smoothly without a plan

You've probably planned for a lot of things in your life, from a timeline for having children to securing the capital necessary to get your business off the ground, but planning in business is a very different thing. In business, there are countless outside factors and many different scenarios that may call for independent plans.

For example, a short-term staffing plan, a quarterly financial plan, and an annual marketing plan will all require individual attention, but must also work together in unison in order to accomplish your long-term goal of profitability. The ability to create and maintain a cohesive strategy across different aspects of the business is one of the most vital skills a business owner must have, whether you're a sole trader or bent on world domination.


The perks of professional guidance

You may be asking yourself, "how am I expected to spin so many different plates effectively?" It’s a question that many business owners struggle with over time. After all, unless you've been at the helm before, few new entrepreneurs have the cross-departmental experience necessary to develop and implement comprehensive business plans.

You may find that your best strategy is to seek help outside your company. It may be hard to justify the investment when you're just getting started – and it's true, a good consultant can be expensive. But what can be far more costly is the damage a DIY plan can do when it falls short through lack of specialist expertise.

Working with a professional can provide new insights and clarity, helping you make sure your business takes off on the right track. Being an effective business leader takes a lot of energy and focus, which is why the mindset and practices you develop now can make a tangible difference in the future.

The 7 Habits of Highly Effective Small Business Owners eBook is your quick, comprehensive guide to doing what's right for your company, teaching you the ins and outs of planning for the future.

 

Topics: business strategies, small business new zealand, growing your business

 

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