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Business Planning

A business plan, is a written statement about where an organisation is going, how it plans to get there, and what it will look like once it has arrived where it wants to be. Your business plan is therefore a valuable tool for setting goals and objectives for business growth and improvement with your leadership team and your employees.  Whether you are writing your business plan for the first time, or updating it as part of your annual business review, there are several useful steps to consider so that you have a clear, concise and useful business plan. They are:

1. Identify Objectives

Create a list of what aspects of your business you think will be most important to the growth of the business. This list will vary from business to business, and in developing this list, keep in mind what you think is important for your business.

2. Outline of the Business Plan

Develop a general outline of everything that you want in your final plan. The more detailed it is, the easier it will make writing the final plan. Use the outline to workshop the detail with your team and ensure that you have buy-in from your employees.

3. Develop and write the Business Plan

Before beginning this step, ensure that you and your team have sufficient market and competitor information and internal comparative data available to you. This will assist you thinking about the business strategy you want to adopt and in identifying the actions you need to put in place that will help you to realise your goals and objectives. Make sure you assign a responsibility for each action and a target date for achievement.

Keep the business plan as concise as possible but make sure you cover every key goal, objective, business strategy and action you will take in the plan.  As a last step in writing every business plan, prepare an Executive Summary. This should be no more than 2-3 pages in length.

4. Monitor your progress against the Plan

Monitoring and revisiting your business plan progress is a good way to keep your business development on track. Regularly reviewing your business plan means that you are keeping it relevant, as well as providing a means to reflect any changes to your business development and growth objectives that naturally occur over time. 

Value Network has extensive experience in facilitating your team’s business plan development and in preparing the business plan. This we have done for various organisations in several industries. Contact us to see how we can help you with your business plan.

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