The importance of business planning 15 December 2006Posted by Catriona Pollard in Articles.
The importance of planning
A business plan is a roadmap for the business – a document that provides vision, goals and benchmarking. It creates momentum and also provides an opportunity for a reality check – what worked last year, where the gaps are, and what next year is going to look like.
Louise Woodbury from business planning company, Quantum Dynamics believes that business planning is important because it provides focus, guidance, commitment.
“It is a process that is focused on what you are passionate about. One of the best things about a business plan is that it highlights your successes. It creates a benchmark so you can recognise and acknowledge your wins as well as the areas you need to work on.”
“Plans make owners and teams accountable. When the year has been mapped out you can get on with running the business, rather than thinking about it,” says Woodbury.
Plans also can result in more freedom and flexibility for the owner. Through planning and putting the right systems in place Woodbury and her husband were able to take three months out of their business to travel around
For more information visit www.take3months.com