Business Planning

In Summary

Throughout this document we have identified the steps you should follow to create a meaningful business plan.

To achieve success, you must:

gather information, manage that information, create and implement plans, and monitor and review the improvements.

The tasks will involve you in:

• Researching and collecting data from inside and outside the business
• Establishing your current position in all key areas
• Determining the strategic direction of the business
• Defining objectives (which are realistic, demanding but achievable and have the commitment of those who will set about achieving them) to take your business towards the vision you have for it

Last, and possibly most important, you must be prepared to take action and monitor results. The tasks need not be onerous, and it need not involve you in expenditure other than time and effort. But the results should outweigh any costs. With competition intensifying and customer expectations increasing, your business plan could make the difference between success in the years ahead and failure perhaps very much sooner.