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8th October 2021
As a business mentor I often get asked what planning a business should be doing.
As the world seems to get busier and busier, we all seem to have less time to step away from the day to day and look at our businesses in more detail. However, if we don’t then we will not be able to keep on top of the changes and implement strategies to ensure our survival.
When clients work with me, one of the first things I do is assess what it is they want from their business, we set goals and discuss a detailed time frame to achieve those goals.
Planning involves understanding what you want, where you are going and lots of analysis, pulling apart each area of the business and looking in detail at it. So, if you want to grow the business, we need to look at what that means, staffing, equipment, getting new clients; if you don’t get the basics in place then, when you do land a new contract, you might not be ready to fulfil it.
If you want to have financial control over your day-to-day business, then having an up-to-date cashflow is crucial so you know when the big bills are coming and you don’t get any nasty surprises.
I work with clients to help them set up and maintain a cashflow as well as integrating it with bookkeeping software so it can learn your business and identify trends and patterns to help you forecast the next year ahead.
By having access to accurate financial data, you are ready for whatever direction you want to take your business and you can provide financiers with the data they need to be able to support you when you need it.
In summary business planning is about being in control over your business rather than being led by what’s happening within it.
If you want it to succeed, then you have to take the reins and lead it to where you want to go and if you want someone to help support you on that journey then give me a call and let’s talk it over.
have you read our previous post?