However, don't kid yourself.
Firstly, very few people are successful just because of luck. Secondly, you'll be surprised to hear that most of these people who seem to have 'all the luck in the world' have a well laid out plan, are persistent in their efforts, and also have set-backs which they use to learn from and drive their plan.
So, for all of us, lucky and just hard workers, having a plan is a key to success. A plan is especially important if what we want to do is to own and operate our own business.
A strong plan is key to a strong business
A strong plan will provide a business focus. It will focus your business and your team on the desired outcomes and the strategies to achieve those outcomes. It will also enable you to develop procedures to address possible threats to the business and exploit opportunities.
Most importantly, it will provide a timetable to action and map out a calendar of tasks and tactics to achieve your desired business.
Other benefits of a strong business plan include:
There are a number of other benefits of a well prepared business plan. These include:
- Staff
A business plan will provide an excellent framework for staff training and development. It will also provide a reference tool for team members managing the practice and helping you to achieve your objectives. - Service providers and suppliers
Many suppliers and service providers will be able to use the plan (and perhaps selected sections of the plan in particular) to ensure that services dovetail with your business. - Banks and financiers
Banks and other lenders want to know that you have a plan for the money you're borrowing. If you have a plan, they feel more secure that you will be able to pay back the funds.
Now's a great time to create a business plan
Now's a great time to create a business plan. The end of another year and the break will provide you an ideal opportunity to contemplate what type of practice you'd like to have and what your objectives might be for 2013.
It is not as easy as it sounds
There are numerous ways to approach your business plan and many tools available to help you develop your plan.
Medici Capital offers a number of business planning sessions throughout Australia. Other advisers can also assist. There are also many websites, books, and workbooks that can assist here too.
The year-end is a great time to reflect and consider your plans for the years to come.
Are you interested in attending a business planning session? Or simply looking for your next business opportunity? Start your search at www.practice4sale.com.au
Advertisement: