Only 2% of business owners have a plan.
I am sure you’ve heard this before, but it’s worth repeating, only 2% of business owners have a plan.
Which I find strange given the value of having a business plan is undeniable. Studies show that planning improves business performance and helps a business grow 30% faster than those that don’t. That’s pretty impressive growth.
Now, a business plan doesn’t have to be a long winded document. It can be as simple as a 2 page high level strategic plan as long as it covers the salient action points that will drive growth in your business over the next 90 days, year or even 5 years.
Here are my top tips for creating and implementing your action plan for the next few months:
- Write it down – I can’t stress this enough. You are going to be checking progress against this plan often, so it’s critical it’s documented properly
- Define clear SMART Goals – Specific, Measurable, Achievable, Realistic and Timebound.
- Lay out the granular details of every step required to deliver the goal
- Test and measure actions surrounding the plan and tweak the plan to make sure you stay on track for success
- Involve your team, having their buy-in and commitment will only help you achieve your objectives
- Keep a growth mindset. Keep learning and applying those learnings to the business and the plan for continuous improvement
If you set your goals, write the plan then follow it, I guarantee you will enjoy the success you dream of.
For more tips on the importance of having a plan, check out our previous blog The Importance of Business Planning
And if you are keen to find out how to take your business to the level, why not take our quick 3 minute Next Level Assessment Quiz and find out where you should focus your efforts – Level Up Your Business
