Writing a business plan may sound like a lot of work, but it doesn’t have to be. An annual plan might sound like even more work, especially if you don’t have enough time as it is. However, an annual plan can be as simple as a single page of goals that helps you prioritise your efforts. Having a clear outline of your goals will also help you evaluate opportunities.
When it comes to goal setting, be specific. Outline the steps necessary to achieve each goal, and use this to guide your strategic plan. Be realistic about the time, cost and resources needed to ensure you can meet your goal timelines.
Here are some examples of business goals:
- Reduce ongoing business expenses
- Improve customer service process
- Increase website traffic
- Increase social media engagement
- Increase market share
- Launch a new product or service
- Develop a new collaborative brand partnership
- Amplify brand awareness
A clear plan helps keep you committed to your vision, making it more likely to achieve your goals. It is also a useful compass for your business for when it comes time to make big decisions.
Here are some key elements to include in your annual plan:
- Business profile
- Vision
- Mission and methods (goals)
- Strategic plan
- Key performance indicators
Annual planning ties in directly with managing capacity and cash flow. Without cash flow you can’t build capacity, and without capacity you can’t achieve your growth goals.
To learn how to improve your business across the four pillars of Strategy, Cash, Capacity and Clients – register for The Business Bootcamp.
The Business Bootcamp is a program designed to help you take control of your business right now – giving you the opportunity to set yourself up for immediate and future success.
