Lynn Fox keeps her single page business plan on the fridge so she constantly sees it and stays on track.
Part of the strength of a small business is the ability to be flexible and respond quickly to changing circumstances. This is where the short term business plan comes into play as it lets you adjust quickly to new challenges and opportunities – especially during financially challenging times.
For most small business owners having a 3 – 5 year business plan is difficult to write and oftens lands and stays in the bottom draw. Even a 1 – 3 year business plan is often too hard to write and work with. The value of a plan is to look ahead, see opportunities and risks and make success come out by doing what’s needed to create success.
While looking ahead is valuable for any business, to think in terms of big pictures about what you want to achieve, the values associated with you and your business and identifying your competitors, it needs to be done every 12 – 18 months. It is often called business planning but it is more strategic than tactical.
Having a 3 – 6 month plan for the business will give you goals that can be achieved in that time, even if they are components of a 12 month long strategy.
By keeping it short and sweet and in a prominent position you can stay focused and achieve the business success you’re seeking.
Jewelry Display Stands make great presents for those birthdays coming up in the next few months!
All the best,