business planning success
TRANSCRIPT
Fast Track Your Way to Business Planning Success
A Little Bit About Me…ü Organisa(onal Performance Improvement
ü Workshop Facilita(on and Training
ü Behavioural Profiling ü Personal Development Coaching
Why have a Business Plan?
Why have a Business Plan?
Why have a Business Plan?Ø Provides a roadmap for success Ø Gives you control of your business Ø Secures finance for your business Ø Ensures everyone on your team is on the same page Ø Helps avoid big mistakes Ø Helps manage your emo(ons
Ø However…
Don’t Invest Too Much Time in Developing a Business Plan because…
The longer you plan, the longer you are not in the marketplace
Need Further Proof?
Ø 21% of small business owners claim they don’t have (me to write a business plan, yet one third of small businesses fail because they lack one • Overall, 40% of small businesses don’t have a business plan
Ø Independent studies in the US suggest businesses with a business plan enjoy 63% higher sales growth than those without.
What is a Business Plan?
Ø A wriTen document that describes how a business is going to achieve its goals
Ø Defines the poten(al costs and drawbacks to certain business decisions and to help business owners modify accordingly before implemen(ng these ideas
What does a good Business Plan look like?
What does a good Business Plan look like?
K.I.S.S Principle – Use One-Page Format
Why?
Ø Since your ideas are changing all of the (me, it’s easier to update Ø It provides clarity to whoever is reading it as important informa(on
s(cks out Ø It will assist you with your pitch to poten(al investors, clients Ø It helps get your team onboard with the company vision and goals Ø With the plan having very specific goals you can create a straight
forward strategy around each of them
Standard Business Planning Process
Goal Setting Ø Goals are statements that guide companies and staff to
meet their responsibili(es and business needs Ø Goals are important on many different levels: • They set standards for improvement • They focus ac(vity • They measure progress • They connect the staff/team to the organisa(on • They mo(vate and energize • They are the basis for decision making
Goal Setting
What Then?
What Then?Ø A business plan is not a document you create once and store in your boTom drawer. It's a living guide that you should develop as your business grows and changes
Ø Test drive your business plan Ø Share the business plan with your team Ø Review your plan on a monthly basis
Useful Hints and TipsØ If you are pitching to a government ins(tu(on or large
corporate, a 1-‐page business plan won’t be appropriate Ø Tailor your business plan to the audience’s preference Ø S(ck to key words and short phrases Ø Use the 1-‐page plan to build yourself and your team a to-‐
do list Ø Ensure the business plan is reflected throughout the
business including in other plans (e.g. marke(ng, financial) as well as staff performance plans
Your Takeaways1. Wri(ng a Business Plan makes financial and emo(onal
sense 2. Don’t spend too much (me wri(ng a Business Plan 3. The challenge is not wri(ng a Business Plan – it is pu`ng
it into ac(on 4. S.M.A.R.T goals -‐ You can’t manage what you can’t
measure 5. Monitor, Review and Reflect – iden(fy and act on
learnings for future
Christian Anderson Consultingwww.christianandersonconsulting.com
0403 913 [email protected]
ChristianAndersonConsultinghttp://au.linkedin.com/in/ckmanderson/