It is said doing the same thing over and over and expecting different results is the definition of insanity. Yet business owners continue to do business as usual year after year.
Business planning is very important to help change the status quo. Whether you are having a great 2020 or not, putting together a business plan is a big part of making those changes.
It starts with asking yourself some questions.
Where are you now? Actually writing it out what the situation you are in currently helps you to see and read the situation better. It is easy to keep the information in your head and know where you are however, once you write it, you can realize where you are. You can also share it, so you can get help from others.
Where are you 5 years from Now? Go crazy and dream big with this. When someone has trouble thinking about this, I ask them to imagine they are at a banquet in their honor 5 years from now and someone is introducing them as “Person of the Year.” What are they saying?
What are your strategic objectives? This is more specific then the above question. They can be financial or growth goals. It could also be specific strategies you want to have implemented in your business or life.
What are your Strengths? This is what you are currently good at doing well. Maybe you are good at getting appointments with prospects. It could be you are great with financial analysis. List them and write about them.
How can you build on those Strengths? We are already strong enough to overcome any obstacle by working on improving what is already strong. It is easier and more fun to become better at something you are already good at doing. If you wake up in the morning dreading what your weaknesses are and working on improving that, you tend to not work as hard. If you wake up in the morning and know you are already good at something and you just want to get better, you tend to do it with more enthusiasm.
This is just the beginning of can become a great workable business plan.