Step Two of the Value Builder system
Successful businesses tend to have some sort of targets and plan for the future. The second step of the Value Builder system is to plan your future.
Research over many years has shown that owners of high-growth businesses are goal-orientated, set ambitious targets, and plan for that ambitious growth. The vast majority of them check their plan at least quarterly. Finally, the research shows the majority meet or exceed those targets.
You may already have a plan to grow your business next year. However, in my experience, an SME business plan is often only a financial budget to use for monthly management accounts, and nothing else. There aren’t clear actions allocated across the business to achieve that budget.
Does this sound familiar? Unfortunately, this approach will not lead to the improvements you’re looking for. Employees won’t work better, care more for the business or take workload off you.
My approach to planning for a business like yours is to focus on what really drives the value of your business, through five stages:
What are the benefits of a proper plan?
Once you’ve developed your plan, the next step is to put it in action, and work it. Sure, there will be unforeseen events as the year progresses, but a plan can be changed. Otherwise you risk being reactive and not in proactive control of your business.
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