Why You Need A Business Plan
Every Gold Coast Business Needs A Business Plan
Most businesses manage their day-to-day operational functions well. The trap for many business owners however, is spending too much time working “in” the business rather than “on” the business. A well constructed Business Plan will help you step back and look at the long term strategic issues for your business, both internal and external.
An effective Business Plan will form the basis for operational and marketing plans so your business can achieve its full performance potential. And your business will benefit from developing a strategy to differentiate from the competition.
Elements Of An Effective Business Plan
An effective Business Plan starts with a Vision Development – every business needs to know where it’s going! So we start with a Personal Vision for the owner followed by the Business Vision – this way the goals of the business line-up with the personal goals of the owner.
The next phase is Strategy Development where we work with you to set the roadmap to reach your destination and goals. Then, we address Structure Development, that is, the design of the organisation and establishing who does what. This goes hand in hand with Culture Development, the process of developing happy and motivated team members who will drive your business.
These Strategic Elements are where the Owner works ON their Business starting with a clear path for growth towards their Vision. The Strategy needs developing to take the Business towards its Vision. Getting the rest of the Business on board is achieved by getting the Structure and Culture aligned to this new direction. This planning process will change the way the day-to-day activities are approached and improved.
Without time spent on Strategic Elements, the Business will not achieve its growth potential. Not only is the Owner unclear on how the Business will grow, there is usually no plan that spells out to the staff where the Business is going and the role they will play in getting it there.
Only once the Strategic Elements are in place can the owner spend time effectively working IN their business. These are the day-to-day Operational Elements where money flows in through sales, profits are generated and expenditure takes money out of the business. These include Products & Services, Sales & Marketing, Finance, People and Systems & Processes.
So with an effective Business Plan formulated by JWA Business & Wealth:
- You make more right decisions and less of the wrong ones
- You have a clear direction of where you are going
- You are more accountable
- Your Team is more accountable
- Your Business is more accountable
- Your Business provides a better lifestyle for you and your family
- Your Business grows into a valuable asset