Just because 2019 has already begun doesn’t mean you should just skip out on business planning this year. It’s always a good strategy to come up with a business plan, no matter the time. It’s only mid-January, so you still have a lot of time to sit down and craft a plan for the new year and easily get caught up with the first couple of weeks of 2019.
Business plans do not have to be complicated affairs with a lot of pages. The simpler the better, because a streamlined plan keeps you and your team focused. It also makes it easy for you to actually execute on the plan and keep focus throughout the year.
A plan that’s too complex or detailed can derail a team who is trying to keep pace with every little niche and nuance inside of it. A good business plan will always rope in key people.
Managers, other department leaders, and team members who have a say in the business plan are going to be more invested into it. This makes teams work better together and that ensures everyone you are working with has a chance to give input about the future of the company and its immediate goals. Plus, you never know what innovative ideas or tips others can bring to the table when it comes time to actually craft a plan.
Even if you have not started a 2019 business plan, you can still stay on track for the year if you get a draft done soon. It’s important to have a solid timeline when it comes down to actually writing and revising a plan. Aim to jot down anything you want to accomplish as soon as possible so you can start revising your plans and get it ready to be reviewed. A second pair of experienced eyes will help you make sure the plan is realistic and feasible.
You should also take the time to actually think about the state of your business and see what should be accomplished in 2019. Consider this if you want to expand your profits or geographical footprint, and then see how these plans could be achieved.
You also need to account for changes like higher interest rates, fuel cost increases, and even tariffs. These types of changes can have a big impact on your business. Not accounting for them in your business plan can lead to issues down the road.
After you have all your ideas down, figure out who you need to speak with to make a solid plan of action. Our experienced attorneys will be able to execute. Once you get started, be sure to keep careful track of your progress at regular intervals. Break goals down into achievable pieces and consistently check your progress as the months go by. Staying on track makes achieving the overall business plan a lot easier.
Click here to learn 4 reasons why you need a business plan!
If problems start to pop up, a good plan will be a reference guide for you to fall back on and can help you get back on track. Just make sure to keep everything simple and to remember not to spend too much time on any mistakes.
Do you have a question about business plans? Click here to contact the experts at Hunsberger Dunn LLP today!
Courtesy of Cuselleration