"The company that fails to plan, plans to fail."
But before planning need to be able to analyse the situation and surroundings.
Would be very glad to know your ideas!
Every business needs a plan. This should be obvious, but surprisingly, many business owners overlook or just flat out ignore this basic requirement. Some may even operate successfully for years with a business plan, but when they least expect it, they discover that this omission may be keeping their business from reaching its potential. This discovery may come about when the business needs more funding, perhaps to cover increasing operating costs or for expansion. The business owner then approaches a bank, lender or investor, whose first response is to ask for the business plan. If there is none, then the business may be seen as being too risky, despite its history, which means no money.
It is important to plan in your business. Many people open and shut the shop door each day without any real direction year in year out. They get dragged along by their business wherever it takes them. Sometimes this can be in a good direction sometimes not. A plan is a living document that should be updated regularly. It accounts for the growth in your business and helps you obtain the lifestyle you are looking for and not the one you have to take. It highlights the strengths and weaknesses of the business and the areas that need to be monitored regularly to obtain success.