The Importance of Business Planning
The single most common cause of business failure is from failing to adequately plan before launching. Businesses that have been established for years can often find themselves in uncharted territory and wondering what to do next and how to respond to changing market conditions.
Planning your business can save you thousands of pounds in lost income, unnecessary costs, false solutions, debts and the ultimate cost of the business failing.
The stress, worry and shame that accompany running a failing business is entirely avoidable and can be reversed very quickly with a clear, logical, purposeful and achievable plan.
“Fail to Plan is Planning To Fail” Benjamin Franklin
“Proper Planning and Prior Preparation Prevents Poor Performance” British army mantra
“A goal without a plan is just a wish” Antoine de Saint-Exupery
The planning stage is where misconceptions, assumptions, problems, costs and challenges can be identified and solved. Evidence to support the business concept can also be gathered and analysed.
With so many businesses ‘winging it’ and struggling, those who have defined their most successful processes and strategies have much more control over their success. A good plan, well executed can put success beyond doubt.
