Why the New Year means it’s time to refresh your business plan
A business plan is a document that managers use to help run their businesses; with 30% believed to grow faster as a result. It identifies any problems, sets out goals, measures progress and clarifies the business idea. So, as the new year begins, why not take time to look over your business plan? How can you make 2019 the year of success for your company?
What are your current business visions, mission and objectives?
These are crucial tools for businesses. They set the tasks for the company to aim to meet. It is vital that each year, they are checked, to see if they are still in date and achievable. Goals must be SMART (Specific, Measurable, Achievable, Relevant, Time related), to be successful, as many theories suggest. Perhaps activities from the current year have meant the focus of the business has changed, or the current goals have already been achieved what better time than now to review this and accordingly update?
Doing this will give you and your working teams better a better indication of the purpose of the business. It can be found to motivate and provide better performance.
Rebecca Dunne is the freelance writer for KSA Group, Licensed Insolvency Practitioners in the UK, established in 2000. KSA Group runs www.companyrescue.co.uk which contains over 2000 pages of useful information for struggling businesses.