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Why is business planning still the primary concern for business owners?

Strategic Planning ( more commonly known as business planning) has yet again been the highest ranked concern for business owners in 2018, according to 2018 Bstar SME Business Report

Here’s the thing – this is no surprise. We all know a strong strategic plan is needed for a successful business. So why is it still the highest concern?

 

The challenge

Many business owners realise they lack the necessary business skills to grow their business to the next level. It can be a real challenge.

The general response from the 2018 SME business report from Bstar was:

‘We would love to have a proper growth plan, we know we need some direction. But – at the moment, it is just about selling as much stuff as possible!’

In many cases, business owners concentrate their efforts on day to day operations of their business, without analysing their performance.

This means, they genuinely don’t know if they are doing well or how to improve their business.

 

The solution

It’s simple –  a strategic business plan.

This is crucial for a business’s success. You need something that outlines your goals. And provides a framework to help you work towards achieving them.

A good business plan answers three important questions for the business owner:

1. Where we are now?
2. Where do we want to be?
3. How are we going to get there?

However, the best plans are only as good as the implementation of them.

There is a far greater chance of success when responsibility can be spread. This can be done by using staff, or external experts, to assist in the process.

DFK Everalls offers Business Coaching & Advisory services, including Planning and Strategy Implementation.

We can help you to create and document a detailed strategic plan. A sensational document, that will become your roadmap for running your business – and growing it into the future.

 

Here’s an idea – What about a Strategic Planning Day?

A Strategic Planning Day is a great start towards establishing the building blocks of your business.

It helps to answer some key questions:

  • What does your business exist to do?
  • What problems does your business solve for clients?

These things will be outlined at your planning day. They will shape your core business purpose.

We can facilitate this day for you, to keep everyone on track and make sure things go smoothly.

If you would like to find out more about business planning, contact us today. We would love to be part of your journey.

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