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Business Planning – there’s no better time to do it!

10 Jan

Business Planning – there’s no better time to do it!

  • Posted by tonyw

It’s the New Year. How time flies. Resolutions all made? Perfect.

But have you set 2015 goals for your business? Have you set your objectives for the year ahead – with the plan of the action needed to make it all happen? 2015 could be your best year yet, but a clear-cut plan is mandatory. Without it, you could be left high and dry.

In the run-up to Christmas, with all its pressures and demands, it’s easy to procrastinate about the year ahead. And yet it’s the ideal time to plan for growth. Here’s how to get on board and make it happen:

* First, you need to evaluate your company’s progress over the last twelve months compared with the same period in the previous year. Compare sales volume, net revenue and gross profit (that is, profit after direct costs of sale), the number of customers you’ve retained, the number you’ve lost and the new ones you’ve been fortunate to secure in the last 12 month period.

* Next, set down your goals for this year ahead in exactly the same way – for volume, revenue, gross profit and customers. OK, so now you need a plan. Will you keep the same pricing? How many customers can you confidently retain and how many will you have to gain to meet your sales targets? What should you be doing to help customer retention (better customer service perhaps?) What can you do to win new ones?

Crucially, these decisions and strategies need to be auctioned to a time plan so that you can confidently achieve your goals. At least when you’ve committed the targets and actions to ‘paper’ – you’ll feel you have a plan to follow.

This simple approach to annual planning will focus your efforts in the right place, at the right time. And will act to make you consider other initiatives which may be necessary too.

2015 may be the best year you’ll ever have. And with a decent plan, you’re well on your way. The time to do it is now!


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