As an owner-managed business operating in a competitive and challenging market, if there was ever a time to sit back and evaluate your game plan for the next 12 months, it’s now.
Whether 2019 was a great year or a tough year for you and your staff, an up-to-date plan is the one crucial aspect that many operators tend to overlook as the new year rolls over. Many forget to review theirs (if they even have one) on a semi-regular basis and so consequently launch head-on into the new year making the same mistakes and missing the same opportunities as they had done in the past.
The simple fact is that writing a business plan is time-consuming and hard word but if done properly it comes with great rewards. These include:
When revisiting or reformulating your business plan, it’s important to consider the following:
Above all, don’t jump blindly into the new year. Spend some quality time working on your business plan now and I can guarantee you will save yourself a mountain of headaches in the coming months.