Ten Dangers of Not Having a Business Plan

Here you can download our 10 Dangers Of Not Having A Businees Plan booklet. An example of the useful information you can find in the booklet is featured below.

1. The 7 P's

The US and British Military have a well-known adage known as the 7P’s. A slightly sanitised version is “Proper Planning, Preparation and Practice Prevents Poor Performance”. This carries true for business too and the failure to plan will adversely affect business performance.

2. Stating Your Purpose

Making a written statement of intent is a powerful incentive to achieve an objective. What is it that you want your business to achieve? We all know that it is far easier to run 5 miles if you set your mind to it and prepare and plan your training, rather than running a mile without any planning training or preparation. What drives each of us may differ. It may be a personal ambition of earning a minimum income by a certain age or perhaps becoming the market leader in a certain product, but an absence of a clear objective makes it difficult to achieve.

3. Know The Journey

How do you hope to achieve your objective? How much will it cost, what are the obstacles to growth and when do you plan to arrive at your stated goal? Are there easier and quicker alternatives? Who will help you navigate your way to that goal? Give the journey some careful thought and write it down. Putting ink to paper is a powerful tool to provoke thought!

4. Monitoring

Once you’ve stated your objective and you’ve plotted your route to success, it is critical to adhere to the plan. There is little point to investing time and thought into your plan and then ignoring it. Set regular interval checks to ensure that you are on track. It may be that a quarterly check for your type of business is a more realistic time frame to assess progress than monthly.

IN ORDER TO FIND OUT MORE ABOUT THIS SUBJECT AND THE ANSWERS TO THE QUESTIONS LISTED BELOW, DOWNLOAD OUR HANDY TIPS BOOKLET HERE.

ALTERNATIVELY, CONTACT THE TEAM ON 020 7841 0390

5. Flexibility

6. Don't Over-Complicate It

7. Prioritising

8. A Shared Plan Is A Stronger Plan

9. Return On Investement And Finance

10. Mergers, Sales And Acquisitions

Should you require any further assistance at all with these matters, then please contact one of our corporate specialists on 020 7841 0390 and we will be happy to discuss this with you.