Business Planning

Every business owner is on a journey and, like any traveller, you need to know two fundamental things:

  1. The destination – where is your business going?
  2. The route – what are you going to do to get it there?

Before setting your destination, remember the importance of allowing yourself time to think about your aspirations for both yourself and your business. Many business owners tend to stray towards caution when setting out their journey into what can be the unknown, so be mindful of letting this apprehension dominate your vision.

 Of course, there must always be a balance between realism and dreams when setting business goals. Ultimately, only you can determine the destination of your business but, unless you do so, you will find the path is long and meets dead-ends. Too many business owners do not have a clear understanding or definition of the direction of their business and, as a result, they risk leaving the future of their business to chance, or failing altogether.

Whilst some business owners have made a clear decision about the goal of their business, they have not taken the time to consider their route. Consequently, the journey is often inefficient and encounters problems along the way which, with proper planning, could have been avoided.

Good business planning is a fundamental part of building success and profit. You may of course ‘get lucky’ along the way, but this type of good fortune can often be a short-term win and, in reality, your business will not realise its full potential unless you take the time to plan your route.

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