The week between Christmas and New Years is the perfect window for small and home-based businesses to reflect and plan for the coming year:
* What is working and what is not?
* Look at Google Analytics for your Website to identify areas for improvement.
* What industry and economic trends are likely to affect your business next year?
* Are there any opportunities which you can take advantage of?
* Set goals and develop a business plan for 2011.
Taking a day or two to perform this useful exercise can have immense payoffs for your business in 2011.
Showing posts with label business goals. Show all posts
Showing posts with label business goals. Show all posts
Tuesday, December 28, 2010
Sunday, April 15, 2007
Business Plan Sanity Check
For a small business or start-up, getting a "sanity check" for your business plan from an experienced consultant can mean the difference between success and failure. The small expense of having an experienced person review your business plan (or simply your strategy, whether it's written down or not) is more than recovered by the insights gained and the avoidance of costly pitfalls.
And for those of you who do not have a written plan that has been scrutinized by someone who is "business knowledgeable," recognize that you are winging it! Are your goals realistic? Are they achievable? Are they even the right goals for your business? And do you have realistic action plans to achieve your goals? Are you leveraging your strengths while minimizing your weaknesses? If you don't know the answers to questions like these, you may already be headed for serious trouble.
Too often, start-ups and small businesses don't even see trouble coming until it is too late to do something about it. That's the purpose of a well-thought-out business plan - to look ahead and increase your odds of success by avoiding likely speed bumps. The failure rate of businesses who don't take the time to think through their objectives and strategies is dramatically higher than those who accomplish this upfront and perform at least annual reviews.
Without a roadmap for your business, how will you know if you're going in the right direction? If you don't have the experience, aptitude or skills to prepare a business plan, then employ a knowledgeable consultant to help you put one together. It will be the best money you ever spend.
And for those of you who do not have a written plan that has been scrutinized by someone who is "business knowledgeable," recognize that you are winging it! Are your goals realistic? Are they achievable? Are they even the right goals for your business? And do you have realistic action plans to achieve your goals? Are you leveraging your strengths while minimizing your weaknesses? If you don't know the answers to questions like these, you may already be headed for serious trouble.
Too often, start-ups and small businesses don't even see trouble coming until it is too late to do something about it. That's the purpose of a well-thought-out business plan - to look ahead and increase your odds of success by avoiding likely speed bumps. The failure rate of businesses who don't take the time to think through their objectives and strategies is dramatically higher than those who accomplish this upfront and perform at least annual reviews.
Without a roadmap for your business, how will you know if you're going in the right direction? If you don't have the experience, aptitude or skills to prepare a business plan, then employ a knowledgeable consultant to help you put one together. It will be the best money you ever spend.
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