Business Planning? 3 Tips to Improve the Process
When people think about a business plan, we normally find a spreadsheet with estimated revenues and expenses; we believe it needs to be more comprehensive with specific departmental action plans.
1. Take the business assessment evaluation from our website.It is a comprehensive tool designed to reflect your maturity level and an organization. It will measure management, sales, HR, marketing and other components of your business; the assessment will grade each section and provide you insights into what to potentially focus on in the new year.
2. Use the following questions......and pass them out to your management team. The team has two weeks to complete them. At your management meeting, compare everyone’s thoughts and discuss the findings. Then you can begin to develop your business plan.
- What went well in the past year?
- What did not go well?
- What are the key drivers?
- What are the key metrics?
- What are the risks?
- What are the opportunities?
- What are some of the specific factors you will be
facing in 2015?
- What assumptions are you making about the market in 2015?
- What assumptions did you make about your product
offerings in 2014? Still true?
- What assumptions did you make about your company
capability in 2014? Still true?
- Tactical Effect
By: Ken Thoreson