Your Business Plan is your business roadmap. It details where you are going and how you plan to get there. Without a plan your business is essentially rudderless.
Your business plan should be driven by your business purpose, brand promise and vision.
Business Planning is a four part process:
- Planning WHERE you want to go. (Goal setting).
- Deciding HOW you are going to get there (Strategies).
- Working out WHAT you need to do, WHEN you need to do it and, if you have a team – WHO is responsible for getting it done (Action or project planning).
- IMPLEMENT, REVIEW, RINSE AND REPEAT: Monitoring and measuring your progress and revising your strategies and action as needed.
What are the benchmarks of best practice business planning?
We have a clear vision for our business which is congruent with our purpose and core values. It is clearly articulated and resonates with our people and ideal clients and guides our strategic planning and all our business activities. Review the checklist
We have a strategic business planning process which documents our goals, strategies and activities across the business for the coming 12 months and maps out our strategic direction for the next 3 – 5 years in line with our business purpose, brand promise and vision. Review the checklist
We have a rigorous business planning review process including daily, weekly and monthly meetings attended by all staff covering results, challenges and issues, opportunities, and forward planning. Review the checklist
We have an ongoing business improvement process in place focusing on improving quality, reducing costs and creating new opportunities across all areas of the business. Review the checklist
Rate your business against all of the elements of a best practice business
Find a Synergy48 best practice business planning advisor to help you implement best practice business planning in your business