Business Planning

Habit 2 – Begin with the end in mind.

The 7 Habits of Highly Effective People – Stephen R. Covey

It’s often said that failing to plan is planning to fail. The reason that saying has lasted the test of time is because it is absolutely true. The facts are clear. Those business owners with a clear, written and visible plan with key goals and tasks are more likely to achieve their goals than those who only have a plan in their head or not at all.

Business Planning is a non-negotiable for all ActionCOACH clients. We believe planning is a critical element to the success of every business so all of our clients participate in planning sessions where you can build focus and clarity for the future of your business and life. We also provide planning workshops and tools for anyone who wants to develop their planning process.

Frequently Asked Questions about Business Planning

Why should I set goals?

We all use Google Maps. It works so well because we put in a destination and then Google Maps works out a plan on how to get you there. It wouldn’t work if you didn’t have a clear destination.

1. Direction – If you don’t know where you want to go, how are you ever going to get there.
2. Movement and momentum – When you have set a goal you are more likely to take the first steps towards achieving that goal, and once you have started on the path you can pick up momentum.
3. Shapes You – As you develop an set new goals, inevitably you will need to develop new skills to ensure you can implement the tasks required.

How long should my plan cover?

It’s impossible to write a detailed plan with key goals and tasks for a long period of time. Business and personal circumstances can change over time which make it impossible to plan in detail over long periods.

However as the great Stephen Covey said, you should ‘start with the end in mind’. What will your business look like when it is finished? By finished, we mean when it is a commercial profitable business that can work and function without you, as the owner, being there.

What are your 3-5 year goals? What will your numbers, your team, your structure, your client base and your life look like in 3-5 years time. Once you have your longer term goals you can work on the key goals, opportunities and challenges for the next 12-18 months.

Then you can look at the short term. Build a detailed plan for the next quarter. What are the key goals and tasks you need to complete in your business to move you towards your 12-18 month goals which will ultimately help you achieve your longer term goals.

Then, ultimately, you’ll need to plan out each month, week and day.

What should I include in my plan?

That all depends on what type of plan you want to build for you and your business and the length of time your plan is covering.

If you are developing a plan to assess the viability of your business model then you definitely need to include detailed financials (our ActionPLAN Planning Club would be ideal for this) and if presenting to potential investors or for finance then they may want to see your vision, mission, culture, people and operational plans too.

If you already have this in place and you are looking for a more focused look at your key goals and objectives then either a 3-5 year or 12-18 month plan  or for even more short term focus, a plan for the next 90 days with key must-achieve goals and a detailed plan  to achieve those goals.

How do I get started?

Check out the three options below and if you would like further information and a no obligation discussion with our coach, then just click the links. There are lots of options out there for business planning but I’m guessing as you are reading this, you already know that.