As the owner of a small business you rarely have enough time: the urgent often overwhelms the important and running your business can seem like snakes and ladders in a maze. Business planning, although vital for your success, seems the preserve of larger businesses, an impossible luxury for a small business. You can, however, effectively apply the fundamentals of big-business planning to your small business by translating corporate-speak into your language.
|Business Plan||What does your business need to accomplish to be successful?|
|Vision||How do you see your business in the future?|
|Values||What do you want to be known for?|
|Mission||Why does your business exist?|
|Goals||What are you trying to achieve?|
|Objectives||What measurable targets will you achieve, by when?|
|Strategies||How will you build and manage the business?|
|Action Plan||What actions will you take?|
|Milestones||What will your actions achieve, by when?|
|Forecasts||What will your sales, costs, profitability and cash-flow look like?|
|Unique Selling Proposition||How are you different, and so better, than your competitors?|
|Value Proposition||What does your customer get, of value to them, from you?|
Simple doesn’t mean simplistic. You may have to do some hard thinking and research to answers these questions. Once done you have the first stage of your business plan.
Have a look at my Accomplish Business Plan Summary Guide
What are the second, third and fourth stages of business planning? Implementing the plan, working out what you have actually done, re-planning …..